By Our Correspondent
The EFCC’s raid on Dangote and other major business establishments may scare foreign investors and exacerbate the difficult economic situation in the country.
This was the observation of the Arewa Consultative Forum, Kano State chapter in a statement issued to media by its spokesman Bello Sani Galadanchi.
The forum expressed concern about the raids, seeing it as detrimental to economic growth as it may erode investors confidence.
The Stentornews recalled that some national assembly members expressed similar concern on the issue recently.
The forum noted that given the current fragile economic situation of Nigeria, the move has the potential to worsen situation.
It observed that Dangote Group has played significant role in Government drive of changing the country’s economic narative from import dependent to net exporter in many facets.
It adviced the Federal Goverment, to employ advanced economies measures like US in sanctioning conglomerates without raids.
The forum pointed out that when Microsoft, Beta, BP and several other business conglomerates were found violating laws in US, heavy fine was slammed on them.
The statement said ACF is never against subjecting Dangote or any other company to legal sanctions but coutioned that at a time when major companies were closing business in Nigeria, the need to strengthen indigenous ones cannot be ignored.