ACF Decries Raid on Dangote Group, Says  It’s Inimical to Economy

Ahmad Sorondinki in Kano

The Kano State Chapter of Arewa Consultative Forum (ACF), has described the raid on Dangote Group as unhealthy development that could further worsen the economic situation in the country.

A press statement that was signed by the Publicity Secretary of ACF, Mr. Bello Sani Galadanci, described the raid as inimical to the economy and capable of scaring foreign investments.

The statement lamented that going by the current fragile economic situation, the EFCC raid on Dangote Groups would rather deteriorate the economic situation across the nation.

It said: “The move would further exacerbate our current difficult situation and deter potential investment.

“Now is not the time for this, it is the time for the nation to focus on the integration of African economies and the expansion of trade and investments across the continent to stimulate growth and create employment opportunities, not conducting a raid on its largest conglomerate.

“Dangote’s impact for decades has been felt through various facets of our economy. The company plays a crucial role in transforming our economy from heavy import dependence to a net exporter in critical industries.”   

The ACF reaffirmed that no individual, group, or institution is above the laws of the land. “Our position is that if any company violated any of our laws, appropriate sanctions should be applied. That is what is obtained by the more advanced economies the world over.

“For instance, at various times Microsoft, Beta, BP, and several business concerns had been fined by he US government for infractions committed.

“Recently, P&G and a few other conglomerates left Nigeria. Aliko Dangote is one of the most patriotic businessmen who had chosen to invest in Nigeria.

“There are several equally very rich people who kept their resources in portfolio investments, real estate, and other endeavors in foreign lands at the expense of Nigeria.

“We should celebrate Dangote and all our local big companies for their doggedness, persistence, and unwavering commitment to bolster the Nigerian economy.”

The ACF urged the federal government to devise amicable ways of enabling top business establishments to make greater contributions to the economy and halt the raids, as the nation struggles hard to attract foreign investment and other key ingredients to redeem the economy.