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EFCC’s Sweep: BUA Cement’s Office Raided In Forex Probe
EKO HOT BLOG reports that Operatives of the Economic and Financial Crimes Commission (EFCC) have reportedly stormed the office of BUA cement in relation to an investigation on the forex transactions of the company.
This online media platform understands the EFCC besieged the BUA Towers located at PC 32, Churchgate Street, Victoria Island, Lagos State, on Thursday.
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The development followed an earlier ‘raid’ on the Lagos head office of Dangote Group on Thursday as well.
It is understood that the activities of the anti-graft agency are part of an investigation into the forex transactions of some companies in the country.
The companies are being investigated for the forex allocations they got during the tenure of Godwin Emefiele as governor of the Central Bank of Nigeria (CBN).
Some of the companies being investigated by the anti-graft agency include Dangote Group, BUA Group and Flour Mills. It is understood that a total of 52 companies are under the searchlight of the EFCC.
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The information available on the investigation revealed that the EFCC had earlier written to the various companies asking for documentation on their forex transactions in the last 10 years, and they have all denied wrongdoing in their communications with the EFCC.
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