Let Us Stop the Aliko Dangote Mafia Gang-Up against African Petroleum Plc

I have decided to address the case of "The Unethical Manipulation of AP Shares Leading To a Decline in Value by Nova Finance & Securities Limited and Alhaji Aliko Dangote" published on pages 94-95 of The Guardian on Tuesday, March 24, 2009.

It is important that this grievous allegation by the management of African Petroleum Plc against the Nova Finance & Securities Limited and Alhaji Aiko Dangote should be well investigated and the findings should be well circulated for the public knowledge of Nigerians and citizens of other nations, because hundreds of thousands of them are shareholders of these public quoted companies in Nigeria. Any act of economic misconduct or sabotage in Nigeria should be dealt with by the Nigerian Stock Exchange (NSE), Securities and Exchange Commission (SEC) and the Economic and Financial Crimes Commission (EFFC). The alarm raised by the management of African Petroleum Plc is in the interest of their nearly 200, 000 shareholders and the general public.
If Alhaji Aliko Dangote has personal scores to settle with his business archrival Chief Femi Otedola, he should do so privately and not on the floor of the Nigerian Stock Exchange. Aliko Dangote should not use innocent shareholders as pawns in his desperation to checkmate the advancement of Femi Otedola in the business leadership of Nigeria.
He should not use the shares of AP Plc to learn how to play Chess on the floor of the Nigerian Stock Exchange.

The fact is, without the Yorubas of Femi Otedola’s tribe, Alhaji Aliko Dangote would not have become as rich as he is today, because the majority of his customers or the consumers of his products are Yorubas. His own people the Hausas do not buy as much cement as the Yorubas, because Hausas hardly build houses as the Yoruba landlords who have landed properties from the Western region to the Northern region of the Hausas. Yorubas are the ones who buy most of the products produced and distributed by Aliko Dangote and not the Hausas who hardly indulge in extravagant parties as the popular Yorubas “Owanbe” parties. If the Yorubas should boycott Dangote’s products, the Dangote Group will collapse within 12 months. Imagine what would happen to the conglomerate of Alhaji Aliko Dangote if I make a clarion call to all Southerners from the East and Western states of Nigeria to boycott Dangote’s products and services? The Dangote business empire will crash!

Alhaji Aliko Dangote and his gang of Nova Finance & Securities Limited should stop their mischievous and unethical economic sabotage of “crossing” and devaluation of the shares of African Petroleum Plc at the Nigerian Stock Exchange. Any Dangote Mafia gang-up against Chief Femi Otedola and associates will fail woefully.


The ruling People’s Democratic Party (PDP) of Nigeria connived with Aliko Dangote to use the Nigerian economy to practice monopoly and Totopoly and he monopolized the importation of cement with the support of the corrupt political mafia of the PDP. But the time has come to stop the greediness of Aliko Dangote and demand for equity and probity in the economic development of Nigeria for the mutual benefit of all the citizens and other stakeholders.

Business and Poilitics go together, and i think you are being tribalistic, People like you are the people that prevent nigeria from growing with your tribalistic minds.

Wetin concern me?!

I wonder!

why should an average nigerian support any of them both?they r both thieves who have been raping the nigerian economy for ages so the more they fight,the better for us

Many average Nigerians have AP shares and this could have ruined many people. It is illegal and Dangote should be punished if this is true

lucabrasi:

why should an average nigerian support any of them both?they r both thieves who have been raping the nigerian economy for ages so the more they fight,the better for us

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Every average Nigerian should be concerned by the illegal actions of Dangote. A vibrant economy requires a thriving stock market. Dangote's manipulation of the stock market will destroy the integrity of the market and adversely affect the economy.

I have stopped investing in the Nigerian equity market because of the lack of integrity and transparency. We continually allow the priviledged few to steal the resources of Nigeria because the average Nigerian does not feel that the wealth of this nation belongs to us all.

An action of two men should not be generalized to include the whole market. These men should be allowed to sort out their grievances whatever it may be through the authorized channels. What the average nigerian can do is to avoid any stock in which either or both of the men have interests; but i don't think it has come to that yet. There is absolutely no cause for alarm.

Outstrip:

Many average Nigerians have AP shares and this could have ruined many people. It is illegal and Dangote should be punished if this is true

jazzsoul:

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Every average Nigerian should be concerned by the illegal actions of Dangote. A vibrant economy requires a thriving stock market. Dangote's manipulation of the stock market will destroy the integrity of the market and adversely affect the economy.

I have stopped investing in the Nigerian equity market because of the lack of integrity and transparency. We continually allow the priviledged few to steal the resources of Nigeria because the average Nigerian does not feel that the wealth of this nation belongs to us all.

i dont think you get the context of an average nigerian,an average nigerian cant afford 3 square meals talk less of buying shares worth about260 or so naira while at its best before crashing,their feud will favour the average nigerian because the price of dangote's monopoly will be forced down namely cement,sugar,rice,macarony,flour e.t.c and otedola's stranglehold on diesel,kerosene e.t.c
the fact of the matter is that a country where one of the major businessmen who has monopolised and taken advantage of the financial market,is made the vice president of its stock exchange isnt ready to enter the world market,as for destroying the integrity of the stock market,we they didnt have any to start with,i was all a smoke screen,i lost faith the day i heard that the woman onyiuke with the collusion of obasanjo were using the nse funds to run pdp campaigns

lucabrasi:

i dont think you get the context of an average nigerian,an average nigerian cant afford 3 square meals talk less of buying shares worth about260 or so naira while at its best before crashing,their feud will favour the average nigerian because the price of dangote's monopoly will be forced down namely cement,sugar,rice,macarony,flour e.t.c and otedola's stranglehold on diesel,kerosene e.t.c
the fact of the matter is that a country where one of the major businessmen who has monopolised and taken advantage of the financial market,is made the vice president of its stock exchange isnt ready to enter the world market,as for destroying the integrity of the stock market,we they didnt have any to start with,i was all a smoke screen,i lost faith the day i heard that the woman onyiuke with the collusion of obasanjo were using the nse funds to run pdp campaigns

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I do get the fact about most average Nigerians living in misery in a land of so much. That is the crux of my saddness. Why would so many people allow a few clowns in government to usurp what belongs to all? It appears that majority of Nigerians have resigned themselves to a life of misery.

I just read on this forum that the House Speaker has 4 bullet proof jeeps awaiting clearance at the port for his official duties. Does a public servant in the same position in England have those types of luxury at the expense of the citizens? I know this is not the case where I live in North America.

The Nigerian Stock Exchange is a sham and should be abolished.

jazzsoul:

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I do get the fact about most average Nigerians living in misery in a land of so much. That is the crux of my saddness. Why would so many people allow a few clowns in government to usurp what belongs to all? It appears that majority of Nigerians have resigned themselves to a life of misery.

I just read on this forum that the House Speaker has 4 bullet proof jeeps awaiting clearance at the port for his official duties. Does a public servant in the same position in England have those types of luxury at the expense of the citizens? I know this is not the case where I live in North America.

The Nigerian Stock Exchange is a sham and should be abolished.

exactly,the problem is that nigerians have been betrayed so many times that they have lost faith and are cautiously optimistic when anyone tells them what to do, remember the hundred or so ppl that died during the mko abiola riots,they never got compensated,yet the nadeco chieftains all got their political appointments through this,when abiola came back before he was arrested,he said he never sent anyone to riots, the likes of festus keyamo,ozehkome e.t.c all used the average nigerians to further their careers,and then dropped them like rotten oranges,i believe things will start to change first if we diasporians can start to go back home and sensitize the illiterates,villagers e.t.c on the power of their votes,the danger of selling their conscience e.t.c also the youths need to be brought back and galvanized into action,imagine national association of students ,the umbrella body of nigerian students endorsed virtually all the corrupt politicians showing they have been compromised, what are we doing to talk to the youths,students starting a sort of youth movement,

we have to be seen to identify with them,and what they r going through for them to totally trust us enough to stand up and fight again like they did during the millitary regime,and hope 93
e.t.c