Abdulsamad Rabiu, BUA Group logo
By Our Reporter
Facts have emerged on why the operatives of the Economic and Financial Crimes Commission, (EFCC) stormed Abdulsamad Rabiu’s BUA Group head office located at PC 32, Churchgate Street, Victoria Island, Lagos State.
Operatives of the anti-graft agency visited the office
to conduct a search on the BUA office
It had been reported that the EFCC is probing the foreign exchange allocations made to about 52 companies, including BUA Plc during the tenure of the former Governor of the Central Bank of Nigeria, Godwin Emefiele
It was gathered that the EFCC had written to BUA directing it to supply documents supporting the allocation and utilization of foreign currencies to them in the last 10 years.
The EFCC letter to the company is part of ongoing investigation into alleged preferential Forex allocations to individuals and organisation.
Investigators had in the past months accused the CBN of favouring BUA and some other companies through non-transparent allocation of foreign exchange to them.
