Ikenga Ugochinyere, a prominent member of the Peoples Democratic Party (PDP), has responded to the raid by agents of the Economic and Financial Crimes Commission (EFCC) on the Dangote Group’s headquarters in Lagos State.
According to Anaedoonline.ng, Ugochinyere is a representative for the Ideato North/South Federal Constituency of Imo State in the House of Representatives.
Recall that as part of an ongoing investigation concerning foreign exchange allocations in the nation, EFCC agents searched the Dangote Group headquarters on Thursday.
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According to reports, the EFCC agents requested documentation about the foreign exchange that the Group had received over the previous ten years upon their arrival at the Dangote headquarters.
However, Ugochinyere claimed in a statement released on Thursday night that the corporate raid was a mistake that would undermine attempts to stabilise the economy and send the incorrect message to foreign investors.
He went on to say that the EFCC raid on one of Africa’s biggest companies at a time when the country was struggling to prop up its collapsing economy looked awful for the Bola Tinubu administration.
He said, “This evening, I read about the raid of the headquarters of the Dangote Group in connection with the ongoing investigation into forex allocations in the country. The EFCC was reported to be investigating forex allocations to some companies during the tenure of Godwin Emefiele as Governor of the Central Bank of Nigeria (CBN).
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“I’m of the view that the timing of the raid on Dangote Group is not only very suspicious, but most importantly capable of worsening the economic situation and scaring investors. In the last few months, our nation has lost so many foreign investors. While some of the foreign companies operating in the country are leaving, potential investors are also sidelining us. Now you have the EFCC despite the word the nation is currently facing, raiding the headquarters of the largest industrial conglomerate in West Africa.
“The Dangote Group, with investments in several sectors and across 14 countries in Africa. This is not good look for us internationally. What will the international community think of Nigeria when they read about news like this? Dangote Group’s impact for decades has been felt through various facets of Nigeria’s economy.
“The President of Dangote Industries Limited, Aliko Dangote. has helped transform our economy from heavy import dependence to a net exporter in some critical industries, including cement and Fertiliser. Given our current fragile economic situation, I believe this move by the EFCC will worsen things, now is not time for this, it’s time for the nation to focus on the integration of African economies and expansion of trade and investments across the continent to stimulate growth and create employment opportunities, not carrying out raids on its largest conglomerate.”
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