Sunday, 05 November 2023 04:40

Dangote, Rabiu feud publicly, accuse each other of treachery

Rate this item
(0 votes)

Nigerian billionaire Aliko Dangote blamed fellow tycoon Abdul Samad Rabiu for attempting to instigate a probe into alleged money laundering at companies run by Africa’s richest man.

Dangote, who runs Nigeria’s biggest cement maker and is about to start operating Africa’s largest oil refinery, in a seven-page advertisement published in local newspapers alleged that Rabiu was behind an attempt to get President Bola Tinubu’s government to embroil Dangote Industries Ltd.in a probe into the Central Bank of Nigeria. Dangote’s companies aren’t under any investigation.

A spokesman for Dangote didn’t answer phone calls or respond to messages, while a spokesperson for BUA couldn’t be reached for comment.

The allegations, which first surfaced in 2016, were resurrected when Tinubu in July ordered a probe into operations at Nigeria’s central bank over the past eight years. Tinubu alleged that several unidentified Nigerian businesses engaged in money laundering as the central bank oversaw a complex foreign-exchange regime that critics say encouraged arbitrage.

“As an organization, it is not our custom to respond to any spurious allegation,” Dangote Industries said in the advertisements published on Friday. “But to the fact that this is a rehash of a similar report peddled by a competitor masquerading as a concerned Nigerian in 2016, we are therefore constrained to provide context to this issue.”

Rabiu responded hours later accusing his rival of a litany of infractions against his business since the early 1990s, including giving him a dud cheque on one occasion.

“To Dangote and the Dangote Group, we say: Let us build, not belittle,” Rabiu’s BUA Group said in a post on X. “While we may share the marketplace, we need not share malice. We have nothing to do with your self-inflicted issues. Blame no one but yourself.”

Dangote has a net worth of $16.4 billion, according to the Bloomberg Billionaires Index, while Rabiu’s wealth is valued at $5.5 billion.

 

Bloomberg

March 05, 2024

Want to hire good employees? Look for 4 positive work traits

Hiring the wrong person is costly on every front: money, time, energy, and the well-being…
February 26, 2024

Afenifere opposes curtailing Yorubas’ right to protest against Tinubu's harsh economic policies

PRESS RELEASE Afenifere has distanced itself from the call by some renegade Afenifere members for…
March 02, 2024

I’ll tell you the secret of cancer - Caitlin Flanagan

It’s been almost 20 years since my diagnosis, and I’ve learned quite a bit. Are…
March 02, 2024

Man tries to hide stolen horse in his third-floor apartment

A 19-year-old man faces three months to five years in prison for stealing a horse…
March 05, 2024

Banks enable 70 percent of financial crimes in Nigeria - EFCC

Economic and Financial Crimes Commission, on Monday, indicted banks as being linked to about 70…
March 05, 2024

Here’s the latest as Israel-Hamas war enters Day 151

UN envoy says 'reasonable grounds' to believe Hamas committed sexual violence on Oct. 7 The…
March 03, 2024

Scientists may have finally solved the mystery of consciousness. Their discoveries are troubling

Throughout history, attempts by mere mortals to plumb the inner recesses of the soul have…
March 02, 2024

Super Eagles coach Peseiro leaves at end of contract

Nigeria's Portuguese coach Jose Peseiro said on Friday he had left the job only weeks…

NEWSSCROLL TEAM: 'Sina Kawonise: Publisher/Editor-in-Chief; Prof Wale Are Olaitan: Editorial Consultant; Femi Kawonise: Head, Production & Administration; Afolabi Ajibola: IT Manager;
Contact Us: [email protected] Tel/WhatsApp: +234 811 395 4049

Copyright © 2015 - 2024 NewsScroll. All rights reserved.