The Central Bank of Nigeria (CBN) has is investigating foreign exchange transactions of about 55 companies and individuals.
Sources in the CBN linked the companies and individuals to foreign exchange deals outside the official Investors & Exporters (I&E) window.
It was gathered that the investigation is aimed at ensuring that the country’s foreign exchange resources is prudently managed and used for importation of priority goods.
As part of the investigation, the companies have been asked to submit details of all their accounts, in both local and foreign currency.
CBN sources revealed that some companies specialised in buying foreign exchange from unauthorised sources, thereby avoiding documentation.
The development contributes in overheating exchange rates.
The companies and individuals being investigated include Stallion Nigeria Limited, Solem Agro Limited, Deekay & Sons Limited, Hana Nigeria Limited, Emel Nigeria Limited, Sonnex Nigeria Limited, Montana Nigeria Limited, Daraju Nigeria Limited, Dasco Nigeria Limited, Savvy Corps Limited, Pan-Cat Nigeria Limited, Mustafa-Multipurpose Services, Olayfis Global Resources Limited, Pals Interchange Concept Limited, 2015 Petroleum & Investments Limited, Manann Nigeria Limited, Brollo Pipe & Profile Ind. Limited, Altrunk Nigeria Limited and Dartford Energy Services Limited.
Others are Global Links Ventures Limited, Elemental Integrated Associates, New Home Distribution (Africa), ACCI Ventures (Nig) Limited, Dover Engineering Limited, John Kell & Associate Nigeria, Maaway Ventures Limited, Good Metal Enterprises, Medlog Logistics Services Limited, Interswitch Nigeria Limited (Dollar Acct), Beirut Hill Construction Limited, CMA CGM Nigeria Shipping Limited, Agrinexus International Limited, Sylvangel Maritime Resources Limited, Unimer SRL Limited and SCIB Nigeria & Company Limited.
Also being investigated are Domenik LLC, Petro-Afrique Energy Services, Silver Dome Enterprises Limited, Ajibola Bankole Adebutu, Petro-Afrique Energy Services Limited, Steel Force Far East Limited, Stemcor London Trading Limited, Fix Nigeria Limited, SA Turutu International Ent, New Brand Metals Global Limited Ventures, Auto Petroleum Company Limited, Cavendish Mechanicals Limited, Aquashield Oil & Marine Limited, Haitch & Elf Integrated Services Limited, Fenog Nigeria Limited, Promasidor Nigeria Limited, Hatford Resources Nigeria Limited, Don & Chyke Nigeria Limited, BCL Trading Services Limited and Omniworx Export Enterprises.
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