According to a report by Daily Trust on January 7, 2024, the BUA Group, a significant player in Nigeria’s economy, reaffirmed its commitment to ethical practices and pledged complete cooperation with the Economic and Financial Crimes Commission (EFCC) regarding ongoing foreign exchange transaction investigations.
In a statement, the conglomerate stated that it had already submitted the initial set of documents required by the EFCC and was actively assembling the remaining information promptly to support the investigation.
The conglomerate emphasized its substantial contribution to the national GDP, being a principal private sector employer and one of the leading entities listed on the Nigerian Exchange.
Additionally, BUA Group highlighted its role as one of the country’s top taxpayers and expressed unwavering faith in Nigeria’s commitment to the rule of law, fostering an investment-friendly atmosphere for both local and international investors.
In light of the ongoing inquiry, the company appealed to all stakeholders for patience and understanding, assuring them of transparent communication on any further developments in the investigation.
Daily Trust’s report revealed the EFCC’s broadened investigation into forex transactions during the tenure of former Central Bank of Nigeria (CBN) governor, Godwin Emefiele.
The inquiry encompasses various top companies, including BUA Group and Flour Mills, accused of receiving forex at the official rate from the CBN.
However, all implicated companies, including BUA Group and Flour Mills, have adamantly refuted any allegations of misconduct in their correspondences with the anti-graft agency.
