The Economic and Financial Crimes Commission (EFCC) has come under scrutiny following allegations of intimidation and overreach in an ongoing investigation involving an international funds transfer.
The matter arose after Mr. Chidozie of Chido Power Oil and Logistics Services reportedly transferred funds to a client outside the country. According to him, the client later alleged—citing Chinese police—that the funds, despite being backed by receipts and confirmations, were “fake.”
Mr. Chidozie maintains that his business dealings are legitimate and has accused the EFCC of harassment and interferencein the matter. He alleged that he has been issued multiple summons via WhatsApp and threatened with arrest, without being provided with official correspondence or clear evidence of wrongdoing.
Documents made available to reporters indicate that Mr. Chidozie had earlier engaged the International Criminal Police Organisation (Interpol) on the matter, raising questions about why the EFCC has chosen to intervene with what he describes as “forceful tactics.”
He also presented records of financial transactions and client acknowledgments, which, he argues, validate his position, stressing that the claim of fake currency is an afterthought by those who want to tarnish his image, he said.
Observers note that three critical issues are now at stake:
Whether the EFCC can justify its approach in the investigation.
The credibility of Mr. Chidozie’s defense and supporting evidence.
The broader implications for cooperation between Nigerian authorities and international law enforcement bodies.
The Ministry of Interior and Foreign Affairs is also being drawn into the conversation as they mediate in the matter, which involves cross-border transactions.
As the controversy unfolds, stakeholders warn that the eventual resolution could shape future expectations on how Nigerian regulatory agencies handle disputes in international business dealings.