THE anti-graft agency, Economic and Financial Crimes Commission, has broadened its investigation into forex allocations, now encompassing scrutiny of certain foreign firms that operate within Nigeria.
Recent discoveries revealed that the Economic and Financial Crimes Commission (EFCC) is currently investigating the allocation of a minimum of $347 billion to companies in Nigeria between January 2014 and June 2023.
Nevertheless, an analysis of Central Bank of Nigeria data conducted on Wednesday revealed that both local and foreign companies in Nigeria received a minimum of $347.49 billion from Apex Bank to fulfil their foreign exchange requirements and obligations within the 10-year period.
This data, found in the sectoral utilization of the CBN’s forex data, provides insights into how foreign exchange is allocated and utilized across various sectors or industries of the economy.
This development unfolds in the context of the EFCC’s investigation into forex allocations to Dangote Group and 51 other companies during the tenure of the immediate past Governor of the Central Bank of Nigeria, Godwin Emefiele.
