…says foreign investors may be scared away
From George Onyejiuwa, Owerri
The Chairman of the House of Representatives Committee on the Petroleum Downstream and Member representing Ideato Federal Constituency Hon. Ikenga Imo Ugochinyere, has berated the anti graft agency , the Economic and Financial Crimes Commission (EFCC) in the manner they raided the headquarters of the Dangote Group.
He noted that the EFCC does not need the drama to investigate an issue on which they can demand the forex transaction between the Dangote Group from the Central Bank of Nigeria, and that criminalizing a company where foreign investors have invested billions of dollars may create doubts in the minds of willing foreign investors if their would be safe in Nigeria.
Briefing journalists in his country home, Akokwa, Imo State, Ugochinyere said the raid was unhealthy and appeared to have ulterior motive.
The lawmaker wondered why EFCC which had demanded documents from the Dangote Group, could not wait to receive the documents, but opted to raid the company, when every stakeholder in the country is eagerly waiting for the take-off of his refinery which is 90 percent completion.
He said : Why go to a company that you have written to submit documents to you that has to do with its forex transaction for the last ten years with 300 armed police to raid the place and the media .Why , the drama ? The EFCC has unrestricted access to the information from the CBN. All they need to do is to request that the CBN and when you do your investigations and if you discover discrepancies you can then invite the company .But raiding the company is unneccsary and unhealthy which may scare foreign investors . I think there are other motives behind it because before this time the story is every where in the media. I Am not against the EFCC doing their jobs but you don’t disrupt people’s business in the name of carrying out an investigation, especially when direct foreign investment is coming in. We learnt that are about 55 companies being investigated . I condemned the method employed by the EFCC to raid the company especially this period that every stakeholder is working to ensure that the Refinery comes on stream. I repeat , am not against the EFCC doing their jobs but disrupting people’s business or blackmailing people is not part of it when they can get all the information they need from the CBN on the forex transaction . ”
Meanwhile , he commended the EFCC and the Ministry of Humanitarian Affairs, for uncovering N44 billion fund of the National Social Investment Programme Agency (NSIPA) into private accounts.
He frowned that people could divert funds meant for the poorest of the poor and urged the federal government to ensure the money gets to the people it is meant for.
Ugochinyere noted that his committee is working round the clock, such as assessment of refineries and engagement of marketers, to ensure that the down stream sector is stabilised.