•Describes invasion as sheer brigandage on display

The Manufacturers Association of Nigeria (MAN) has described the invasion of the corporate headquarters of the Dangote Industries Limited by dozens of Economic and Financial Crimes Commission (EFCC) operatives as a Gestapo styled exercise and sheer brigandage on display.

MAN also expressed concern that the invasion would hurt the corporate reputation of the industrial giant and could scare away would be foreign investors intending to do business in Nigeria.

It expressed these views yesterday in a statement titled, “MAN Calls for Civility in Operations by Government Agencies,” in which it stated that the outcome of the, rather unfortunate incident may have great impact on how Nigeria would be perceived as respecter of the right of business entities because of the status of the Dangote Industries within the Nigerian economy, Africa and the world.

The Director General of MAN, Mr. Segun Ajayi-Kadir, who issued the statement wondered: “Why hurt the corporate image and disrupt the business operations of the company? The fact that the administration is currently actively engaged in activities aimed at attracting foreign investors should dictate a more circumspect and civil way to make enquiries and secure documents from existing/domestic operators.

“There is no doubt that this news has gone around the world and many, including would be investors, would be taken aback and anxiously awaiting how the story will end. This may not be the best way to show that Nigeria is committed to good corporate governance.”

Ajayi-Kadir, said MAN received the news of the invasion of the Dangote Industries by dozens of EFCC operatives with great shock and expressed concern that the same ill treatment might be meted on about 50 other companies also being investigated by the agency.

He said: “Not that any company is above investigation, but it is about the appropriateness of the method and the sheer brigandage we saw on display. It is whether it will take an armed invasion by dozens of security operatives to get documents from a well-structured and clearly identifiable company like the Dangote Industries.

“What we understand is that it is part of EFCC’s ongoing investigation into foreign exchange 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 of Nigeria 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?

“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.”

Ajayi-Kadir, therefore, advised government’s agencies to exercise restraints and be mindful of the wider implications of their actions on the country’s fragile business environment.

“I think it is important for the EFCC to take steps to clear the air on the negative interpretation being adduced to this action. This is necessary to reassure existing business concerns and encourage would be investors,” he said. (THISDAY)

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