BREAKING: EFCC operatives storm BUA Lagos office

Operatives of the Economic and Financial Crimes Commission have besieged the BUA Towers located at PC 32, Churchgate Street, Victoria Island, Lagos State.

The development followed an earlier siege on BUA Plc’s major competitor, Dangote Plc’s office in Nigeria’s commercial city, Lagos.

Our correspondent gathered that the search by the anti-graft operatives on both offices which commenced around 3pm on Thursday is still ongoing as of the time of filing this report.

A source, who spoke on condition of anonymity, revealed that the EFCC is probing the foreign exchange allocations made to about 52 companies, including BUA Plc and Dangote Plc, during the tenure of the former Governor of the Central Bank of Nigeria, Godwin Emefiele

The source revealed, “Our operatives are currently at BUA’s office in Lagos Island. The commission (EFCC) is also investigating BUA Plc for the same reason as Dangote Plc, over the preferential foreign exchange allocations made by the former CBN Governor, Emefiele in defiance of extant financial rules and regulations and in disregard to the CBN Act.

“There are about 51 other big companies under probe over the development too; and the commission discovered that the allocations were not approved by the former President Muhammadu Buhari.”

When contacted over the development, the spokesperson for the EFCC, Dele Oyewale, confirmed the presence of the anti-graft operatives at both locations, however, he could not confirm the reason for their presence.

Oyewale said, “Yes, our operatives were at BUA office in Lagos too as they were at Dangote’s, but I can’t comment on the reason for their presence there.