Economic and Financial Crimes Commission (EFCC) is currently probing 52 companies over forex transactions.
Gatekeepers News reports that EFCC is investigating forex allocations to these companies during the tenure of Godwin Emefiele as governor of the Central Bank of Nigeria (CBN).
The EFCC wrote to the various companies asking for documentation on their forex transactions in the last 10 years.
Although some of the big companies under investigation include Dangote Group, BUA Group and Flour Mills, they have all denied wrongdoing in their communications with the EFCC.
According to insiders, the Dangote Group said it is ready to explain every detail of its forex transactions as it did not breach any laws.
Meanwhile, details of the EFCC investigations are still sketchy but it appears to be a blanket investigation into the biggest companies that got forex allocations from the CBN under Emefiele.
