Dangote Says It Has Repatriated Over $576m from Its Operations into Nigeria

The Dangote Industry Limited says it has repatriated over $576 million from its operations in African countries, into Nigeria.

Also, the company claims it assisted the Central Bank of Nigeria (CBN) in clearing $111.9 million in foreign exchange with Ethiopian airline, through cash swap.

The company which stated this in a statement, accused BUA Group of sponsoring fake news about its foreign exchange transactions, approved by CBN for its operations in other African countries.

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It also urged all relevant agencies to review its foreign exchange transactions over the past decade and make public any irregularities that were noticed or discovered.

The company stresses that all foreign currency used for its Africa Project Expansion was real and used as planned, and the projects were visible for everyone to see.

According to Dangote, some of the projects were commissioned by Nigeria’s top government officials, with chief executives of banks, captains of industry, and presidents of host countries in attendance, supported by senior government officials.