In a recent development, Aliko Dangote, the Chairman of the Dangote Group, has responded to the visit by officials from the Economic and Financial Crimes Commission (EFCC) to the group’s headquarters in Lagos. The visit was related to an investigation into foreign exchange allocations from the Central Bank of Nigeria (CBN) to the Dangote Group spanning the period from 2014 to the present.
According to Dangote, the company received a letter on December 6, 2023, requesting detailed information on foreign exchange allocations. Notably, similar letters were sent to 51 other groups of companies, seeking comparable information over the same time frame.
In an official statement, Dangote clarified the group’s response, acknowledging the receipt of the EFCC letter and seeking clarification on the specific subsidiaries or companies within the group for which information was required. The company also requested additional time to compile the extensive documentation covering the past ten years.
Despite these requests, the EFCC did not provide the clarification sought and insisted on receiving the complete set of documents within a limited timeframe. The group, in an effort to cooperate, delivered the first batch of documents to the EFCC on January 4, 2024. However, EFCC officials declined to accept the documents, insisting on visiting the offices to collect them directly.
Expressing concern, Dangote emphasized that the EFCC’s approach appeared designed to cause unwarranted embarrassment. It is noteworthy that no documents or files were taken from the group’s head office during the visit, as they were already available at the EFCC’s office.
Dangote clarified that, to the best of the group’s knowledge, no accusations of wrongdoing have been made against any entity within the group. The company is actively responding to a request for information to assist the EFCC with its ongoing investigation.
Despite the challenges encountered during this process, Dangote Group remains committed to providing the EFCC with all necessary information and cooperation. The company, as a law-abiding and ethical corporate citizen, is actively working to compile and submit the remaining documents to aid the investigation.
Dangote Group, being a significant contributor to the national GDP, the largest private-sector employer, and one of the largest groups listed on the Nigerian Exchange, reiterates its belief in Nigeria’s commitment to the rule of law and fostering an investment-friendly environment. The company calls for understanding and patience from stakeholders and pledges to keep them informed of any further developments in the ongoing investigation.
