MAN knocks EFCC over raid on Dangote’s office

The Manufacturers Association of Nigeria (MAN) has expressed worries over the recent invasion of the premises of Dangote Industries Limited by the Economic and Financial Crimes Commission (EFCC) as part of ongoing probe of forex allocation to 52 firms by the Central Bank of Nigeria (CBN).

The association, in a statement on Monday signed by its Director-General, Segun Ajayi-Kadir, said though it is not averse to the conduct of due investigations into the activities of companies, such inquiries should be done appropriately and devoid of what it described as sheer brigandage.

“What we understand is that it is part of EFCC’s ongoing investigation into forex allocations in the country. We believe it is within the remit of EFCC to do so,” the statement said.

“But the question is, what is the wisdom in security operatives swooping on the headquarters of a leading African conglomerate only to demand documents relating to the allocation of foreign exchange to the Group in the last 10 years? Is it that the company refused to respond to a request to present those documents?

“It is whether it will take an armed invasion by dozens of security operatives to get documents from a well-structured and identifiable company like DIL.

“We also understand that about 50 other companies are also been investigated, probably with a likelihood of receiving the same ill-treatment.”

The manufacturer’s association noted that since there was no possibility of armed resistance by the company, there was no need to hurt the corporate image and disrupt the business operations of the company via a ‘Gestapo’ form of invasion.

“It is important for the EFCC to take steps to clear the air on the negative interpretation being adduced to this action. This is necessary to reassure existing business concerns and encourage would-be investors.”

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