Dangote appears before EFCC

Seasoned industrialist Aliko Dangote, is expected to appear before the Economic and Financial Crimes Commission (EFCC) today over the African Petroleum (AP) Plc’s shares’ row.

Dangote’s invitation by the agency followed last week’s grilling of AP Chairman Femi Otedola.

A source, who confided in our correspondent, said: “By our schedule, Alhaji Aliko Dangote, will appear before our team of investigators on Tuesday (today).

“This interaction is part of our ongoing probe of the alleged manipulation of AP Plc’s shares.

“Dangote will respond to issues raised by Femi Otedola in his petition to the EFCC. At the end, we will be able to determine if this businessman has a case to answer or not.”

But as at press time, there were indications that some business associates and mutual friends of the feuding businessmen are trying to reconcile them.

A source said: “Some of their associates and friends are trying to prevail on the Presidency to intervene in the rift.

“In fact some governors are already meeting on how to resolve the dispute. We hope in the next few weeks, there should be some progress.”

The Securities and Exchange Commission (SEC) last Thursday suspended Nova Finance Securities from the capital market for one year.

The SEC also disqualified the firm’s managing director, Mr. Eugene Anenih from “being employed in any arm of the securities industry for five years with effect from April 16.”

“For allegedly violating Sections 105, 106 and 110 of the Investment and Securities Act (ISA) 2007, Mr Eugene Anenih is hereby referred, pursuant to Section 304 of the Act, to the EFCC for further investigation and possible prosecution under Section 115 of the ISA.”

The SEC, however, said it did “not find any evidence to show that Dangote instructed Nova and Mr. Anenih to carry out any of the transactions in AP Plc purportedly done on his behalf.”