Nigeria’s anti-graft body visits Dangote Group in forex probe

Nigeria’s economic and financial crimes agency on Thursday inspected Dangote Group’s books as part of investigations into possible past misuse of foreign currency sourced from the central bank, two sources at the agency said.
The Dangote Group, which counts cement and fertiliser manufacturing and sugar refining among its businesses, is owned by Africa’s richest man Aliko Dangote. Dangote is also readying a 650,000 barrels per day oil refinery that cost $20 billion to build.
Under former Central Bank of Nigeria (CBN) governor Godwin Emefiele, the bank had multiple exchange rates and sold dollars cheaply to some businesses, including Dangote, to help them import raw materials.
A Dangote spokesperson did not immediately respond to requests for comment.