EFCC claims it recovered vital documents during raid of Dangote’s Head Office  

The Economic and Financial Crimes Commission (EFCC) has reacted to a claim by the Dangote Group that the raid on their office was meant to cause the company embarrassment.

A report by The Nation newspaper on Sunday quoted the EFCC as insisting that its officers visited the Dangote Group headquarters with a search warrant for some vital documents on forex allocations to the company between 2014 and 2023.

The period was when Mr. Godwin Emefiele held sway as the Governor of the Central Bank of Nigeria.

President Bola Tinubu sacked Emefiele shortly after assuming office and set up an investigative panel headed by Mr. Jim Obazee, former Executive Secretary/Chief Executive Officer of the Financial Reporting Council of Nigeria, to probe his tenure.

The EFCC probe of foreign exchange allocations made during the Emefiele reign in the CBN is a fallout of the findings of the Special Investigator probing the apex bank.

Obazee, in his findings and recommendations submitted to President Tinubu on December 9, 2023 accused Emefiele and his team of serious mismanagement.

Chief among the allegations against him was manipulation of the foreign exchange rate.

EFCC said it decided to search the head office of Dangote Group because the company was not forthcoming with the documents it was requested to provide.

The Commission, which said the visit was justified and yielded ample results because its operatives were “able to get the vital documents they wanted,” said it would not join issues with Dangote but asked Nigerians to wait for the outcome of the investigation.

According to Nation quoting an EFCC source claimed: “We demanded for some vital documents but Dangote Group was not forthcoming.”

The source said after obtaining a search warrant, the commission sent its operatives to the head office of Dangote Group.

“We did not storm or raid the office because we allowed staff, customers and visitors to go in and out of the place. The search was justifiable because our operatives got the vital documents they wanted on foreign exchange allocations to Dangote Group.

“As an anti-graft agency, EFCC will not join issues with Dangote Group but Nigerians should wait for the outcome of the ongoing investigation.

“No one or group can impede or delay investigation. We cannot be deterred, we will get to the roots of the forex allocations in 10 years.”

But in its reaction to EFCC’s visit to its headquarters, Dangote, short of calling it a witch-hunt said it was an “unwarranted embarrassment.”

The Group in a statement disclosed that it received a letter from the EFCC on December 6, 2023, requesting for details of all the foreign exchange allocated to it by the Central Bank of Nigeria from 2014 to the present.

Describing the request from EFCC as not being peculiar to Dangote Group, the Company management said “we understand similar letters were sent to 51 other Groups of companies requesting for same information spanning same period.”

According to the statement, Dangote Group responded to the EFCC to acknowledge receipt of the letter whilst seeking clarification on the subsidiaries or companies within the Group that they required information on. It also requested for additional time to compile and properly present the extensive documentation spanning ten years.

“However, the EFCC did not provide the clarification sought and also did not honour the request for an extension and insisted on receiving the complete set of documents within the limited timeframe.”

The management of Dangote Group further stated, “Despite this constraint, we assured the EFCC of our commitment to providing the information and pledged to share documents in batches as we complete the compilation. 

“On 4 January 2024, our team delivered the first batch of documents to the EFCC. However, officers of the EFCC did not accept the documents, insisting on visiting our offices to collect the same set of documents directly.

“Whilst our representatives were still at the EFCC’s office to deliver the documents, a team of their officers proceeded to visit our offices to demand for the same documents in a manner that appeared designed to cause us unwarranted embarrassment. Worthy of note is the fact that the officials did not take any documents or files from our Head office during their visit as these were already in their office.

“We must emphasize that, to our knowledge, no accusations of wrongdoing have been made against any company within our Group. At present, we are only responding to a request for information to assist the EFCC with their ongoing investigation.

“As a law-abiding and ethical corporate citizen, we remain committed to providing the EFCC with all necessary information and cooperation. We have already delivered the first batch of documents and are actively working to compile and submit the remaining documents, in good time, to aid their investigation.

“Our Group is a key contributor to the national GDP, the largest employer in the private sector, one of the largest groups listed on the Nigerian Exchange and one of the highest taxpayers in the country. We remain steadfast in our belief in Nigeria’s commitment to the rule of law and its dedication to fostering an environment cotocive for investment and value creation for both local and foreign investors.”