N30tn probe: Senate threatens to arrest CEOs of Glo, Dana Group

The senate on Wednesday threatened to arrest the chief executive officers (CEOs) of 16 companies, including Glo, for failing to honour its invitation over the N30 trillion revenue probe.

Hope Uzodinma, chairman of the senate joint committee on customs, excise and tariff and marine transport, gave the warning at a meeting with some of the firms in Abuja on Wednesday.

The committee had been asked to carry out a holistic investigation into alleged N30 trillion revenue leakages in forex as well as the entire import and export value chain between 2006 and 2017.

It has so far met with all indicted commercial banks as well as government agencies and is currently meeting with companies alleged to be involved in corrupt processes concerning the leakage.

The companies in question include British American Tobacco Company, CCEC Nigeria Limited, Dana Group, African Wire and Allied Limited, Admiral Overseas Nigeria Limited and Aarti Steel Nigeria Limited.

Others are Gagsel International, Fries Land Capina, Etco Nigeria Limited, Encounter Limited, Edic Chemicals & Allied Distributors Limited, Don Climax Group as well as De United Foods.

Uzodinma said out of the 30 firms invited only 14 honoured the invitation of the committee between Tuesday and Wednesday.

He also said the refusal of the firms to honour the invitation was a disrespect for the institution of the national assembly and will not be tolerated.

The lawmakers gave the companies a deadline of Thursday to honour the invitation or risk being arrested.

“It is only in Nigeria that the senate will invite an entity for an interactive session, particularly in a case that bothers on investigation, financial mismanagement, infractions and the company will be complacent,” Uzodinma said.

“The companies will not be willing to come or sometimes send junior officers.

“I have directed and we are working with security agencies, that any company that is invited and has something to explain and refuses to appear, we will issue a warrant for such persons to be arrested.

“We are giving them the final opportunity to appear and if they fail, we will issue a warrant. In this investigation, we are working with the Nigeria police force.

“This is because we are using their facilities to process some of our data so that the information we will present to the public will be information with high integrity that will not be questioned by anybody.”

Addressing the firms who were present at the meeting, Uzodinma said they would be given documents arising from the investigation carried out by the committee to study and comply.

He said the documents specified the various forms of infractions carried out by each of the firms involved in the import and export value chain.

“We have put everything in different categories and for category one it is unutilised Form M. You applied for Form M and approval and allocation were given,” he also said.

“Rather than import with the allocation, God knows what happened because you did not do that.”

Uzodinma said the committee would ensure that forex was given to genuine importers to strengthen the naira and that it would extend its investigation to the operation of trade free zone agreement.