Sun International, a South African hotel and gaming group is being investigated by the Economic and Financial Crimes Commission (EFCC) for its initial investment in the Tourist Company of Nigeria (TCN).
The company confirmed Monday night, that it had on secured the release of four of its employees, three South Africans and one Nigerian, who were detained by the EFCC.
The reason for the arrests are unclear, but Sun International in a statement said;
“The EFCC still wishes to investigate the nature of Sun International’s original investment into TCN as well as TCN’s trading records and has requested that TCN provide them with information and documentation,”.
“Sun International has no difficulty with this request and intends to work with TCN to collate and provide the required information to the EFCC.”
In 2006, Sun International purchased 49.3 percent of the Nigerian Stock Exchange listed Company Tourist Company of Nigeria Plc (TCN), making it the largest single shareholder. But Over the years, the South African company has been drawn into a long standing family dispute between its fellow shareholders, the Ibru family that between them control a 49 percent share in TCN.
Reuters originally reported this