The Manufacturers Association of Nigeria (MAN) has stressed the need for agencies of government to be civil in their operations,  as it  expressed shock over the invasion of the Dangote Industries Limited (DIL) premises by men of the Economic and Financial Crimes Commission (EFCC).

 

 

 

The association, in a statement issued by its Director General, Segun Ajayi-Kadir, noted that while no individual or group is above the law, it however queried the wisdom and appropriateness of the anti-graft agency’s armed invasion of a well-structured and clearly identifiable company such as Dangote.

 

 

 

MAN noted that while it is within the powers of EFCC to carry out investigation into forex allocations in the country, it however does not see any ‘wisdom’ in security operatives swooping on the headquarters  of a leading African conglomerate just to demand for documents relating to such allocations.

 

 

 

“What we understand is that it is part of EFCC’s ongoing investigation into forex allocations in the country. We believe it is within the remit of EFCC to do so. But the question is: what is the wisdom in security operatives swooping on the headquarters of a leading African conglomerates only to demand for documents relating to allocation of foreign exchange to the Group in the last 10 years?

 

 

“Is it that the company refused to respond to a request to present those documents? Are those documents only available with DIL and not in the Central Bank or the relevant commercial banks? Was there a possibility of armed resistance, if the EFCC operatives had come unarmed and devoid of the gestapo style invasion? Why hurt the corporate image and disrupt the business operations of the company?” it asked.

 

 

 

MAN argued that the anti-graft agency should have been more circumspect, going by the fact that the present administration is currently actively engaged in activities aimed at attracting foreign investors.

 

 

 

The association believes the news, which must have  trended globally,  could force  prospective investors to hold back and anxiously await how the story would end, a development, it added, might not be the best way to show that the country  is committed to good corporate governance.

 

 

 

“Because of the status of DIL within the Nigerian economy, Africa and the world, the outcome of this rather unfortunate incident may have great impact on how we are perceived as respecters of the right of business entities.

 

 

 

“Government agencies should exercise restraints and be mindful of the wider implications of their actions on our fragile business environment. It is important for the EFCC to take steps to clear the air on the negative interpretation being adduced to this action,  to reassure existing business concerns, and encourage would be investors,” MAN stated.