A prominent Nigerian business mogul and the Africa’s richest man Aliko Dangote is owing his workers four-months salaries despite his plans to buy football club, Arsenal for a huge amount of cash.

The Nigerian billionaire, who owns the Dangote Group of companies, which produces different kinds of consumable goods and non-consumable goods whose current net worth is 12.9 billion USD has put most of his workers in hardship due to non-payment of salaries and subsequent laying off a sizeable number of his workforce in recent times.

According to a recent media report, Dangote who has refused the workers’ salaries is claiming to be hit by recession and losing an estimated $ 4.4 billion this year.

A few of the affected workers in the group based in Lagos told Aljazirahnews in confidence that it was true that the business mogul was owing staff entitlements up to 4 months but many of them could not talk as a result of fear victimisation and possible loss of their jobs.

They are peeved that their employer is however planning to buy Arsenal, a dream he has had over the years.

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However in a swift reaction to a request for information sent to him by Aljazirahnews, the Head of Corporate Communications, Dangote Group, Anthony Chiejina said the allegations were untrue and should be ignored.

He said tersely that his boss has always fulfilled his monetary obligations to all his employers over the years.

Newsmen could not independently verify the counter-claims.

Dangote with a reported worth of $10.9billion, outlined his plans to buy Arsenal in an interview with Bloomberg Television in New York recently.

The 59-year-old, a self-professed Arsenal supporter, will become the first African owner of a Premier League club if his takeover bid is successful.

However, after losing $4.4billion this year mainly due to the depreciation of Nigeria’s currency, he is waiting for his finances to improve before attempting to buy the club, it was gathered.

“It’s not about buying Arsenal and just continuing with business as usual,” Dangote said.

“It’s about buying Arsenal and turning it around. I’ve run a very successful business and I think I can also run a very successful team.

“Right now, with what we’re facing, over $20 billion of projects, I cannot do both,” he said in the interview.

Stan Kroenke, Arsenal’s current majority shareholder with a 66% stake in the club, has an estimated worth of $8billion.

Dangote, ranked 67th on the Forbes rich list, is worth more than both Kroenke and Usmanov and had claimed that the building of an oil refinery in Nigeria will give him the finances to secure a takeover.

“When we get this refinery on track, I will have enough time and enough resources to pay what they are asking for,” he told BBC Hausa.

“There were a couple of us who were rushing to buy [in 2011], and we thought with the prices then, the people who were interested in selling were trying to go for a kill,” Dangote added.

“We backtracked, because we were very busy doing other things, especially our industrialisation…”

Many have argued that Dangote, who has enjoyed immense benefits from the Nigerian state which has seen his businesses grow in recent years has not ploughed back enough to help his country men and women navigate the challenging economic terrain.


http://aljazirahnews.com/index.php/2016/11/03/dangote-owes-workers-four-months-salaries-set-buy-arsenal/

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