Dangote Group cooperates with Nigeria government investigation on forex misuse

Nigeria's financial crimes authorities probe Dangote Group over alleged foreign exchange irregularities linked to former central bank governor
Dangote Group CEO and Founder Aliko Dangote. Source: Reuters

's Dangote Group has affirmed its commitment to cooperating with the Economic and Financial Crimes Commission (EFCC) in an investigation into the potential misuse of foreign exchange from the central bank.

In its first statement since the EFCC visited the company's Lagos headquarters last week, Dangote Group, owned by Africa's richest man Aliko Dangote, acknowledged that the anti-graft commission sought certain documents for the inquiry.

According to the group, it initially received a document request in the previous month and submitted a batch on January 4.

However, the EFCC insisted on visiting Dangote offices to collect the documents in person.

Dangote stated that, despite its representatives being at the EFCC's office to deliver the documents, the commission's officers proceeded to visit their offices, creating an appearance designed to cause unwarranted embarrassment.

The company emphasized its dedication to providing the EFCC with all necessary information and cooperation.

As of now, no accusations of wrongdoing have been levelled against any entity within the Dangote Group, which encompasses diverse businesses, including cement and fertilizer manufacturing, sugar refining, and a substantial oil refinery with a capacity of 650,000 barrels per day.

The EFCC has yet to respond to requests for comment on the matter.

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