EFCC moves in on Nahco

The Economic and Financial Crimes Commission (EFCC) is investigating top management and directors of Nigerian Aviation Handling Company (Nahco) Plc over allegation of corrupt enrichment, diversion and fictitious transactions.

Sources close to the investigation stated that the anti-corruption agency was acting on a tip-off from insiders within the company.

The management of the company at the weekend confirmed that the EFCC was investigating a petition against the company.

Operatives of EFCC had earlier last week stormed the headquarters of Nahco and subsequently invited the some top managers and directors of the company for further questioning at the agency’s office.

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Nahco stated that it has fully cooperated with the operatives of the Commission, insisting the visit of the EFCC operatives and the invitation of top managers and some directors to their offices have minimal impact on operations and business continuity.

“Nahco wishes to assure its numerous customers, shareholders and its European Union strategic investors that core operations of the company will be sustained under the current difficult situation.

“The Managing Director who was on a short vacation has since cut short his vacation and is back at the helm of affairs at the company. Management will provide updates as and when available,” Nahco stated.

The management of the ground handling and logistics company noted that as a publicly quoted company, Nahco is guided by the guidelines set by capital market regulators and it is also aware of its shareholder rights as enshrined in the constitution of Nigeria, extant rules and the mutual investment protection treaty covering European strategic investors on its board.

 

 

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