OMBIIGA:
The manner EFCC is going about the issue is appalling. Why can't they formally write Dangote group demanding forex documents
Recall it was an open secret that the FG policy drive for backward integration was conceptualize and design such that access to forex is seamless for industrialist
Let watch and see how it goes.

So that Dangote can comfortably clean up and fabricate vital records before they show up? Crime investigators are smarter.

Mandate1:
all des na political gragra. The previous govt made it as a policy to subsidise forex for businesses too important to fail. So I wonder what the drama is for. By this time next month, story don end.

Please don't loud this. Allow the morons that having orgasms here have a field day.

Even Ibeto, Innoson, BUA and Cosharis are being investigated so I struggle to understand the fixation with Dangote

mastermaestro:


So that Dangote can comfortably clean up and fabricate vital records before they show up? Crime investigators are smarter.

There is nothing to clean up. The fx locations are all all on the CBN website including even those that got PTA and BTA. Its public knowledge

Melagros:
Every Nairalander wants to be rich like Dangote but if then tell you the kind of shit this niggar is into you dey amaze

not knowing thier destiny has been taken by Dangote.

deenee:


There is nothing to clean up. The fx locations are all all on the CBN website including even those that got PTA and BTA. Its public knowledge

Public knowledge? Can you post them here so I could take a look?

mastermaestro:


Public knowledge? Can you post them here so I could take a look?

Go on the CBN website and type fx utilisation in the search menu bar. It will direct you to the page where you will have access to the rendition of the daily returns from all banks from 2010 on FX allocation.

Cheers!

I am not moved because I know Alhaji is God's favorite pikin. ..Efcc should do a professional job ....Allah would see him and his conglomerate through...

deenee:


Go on the CBN website and type fx utilisation in the search menu bar. It will direct you to the page where you will have access to the rendition of the daily returns from all banks from 2010 on FX allocation.

Cheers!

And you believe those doctored records? You are not one of the investigators. I would leave you alone now.

Please help me enlighten them oooo

deenee:


I hope you are aware that he has other sources of cash flow. So paying down on debt used to finance the refinery won't be a problem. He owns 85% of DangCem in Nigeria. 100% ownership of 10 other cement factories across Africa. 90% ownership of Nascon and Dangote Sugar respectively. Impressive real estate portfolio that gives good returns and a family office based in Dubai for cross border transactions.

Dangote Cement in Nigeria alone is a big cash cow and very profitable. And he has cement factories in 10 other African countries generating about 3.5 billion dollars in revenue annually.

The repayment was from other investors that bought into the refinery project. For example NNPCL bought about 20% stake in 2021 for about 2.7 billion dollars .

Other institutional investors have bought stakes in the refinery giving them equity ownership and proceeds from which have been used to pay down expensive debt.

Apparently alot of people don't understand how capital allocation along the lines of debt and equity work in a business. More importantly when to use debt vis- a- vis equity

Even if yall take the refinery from him. He is currently discussing with two countries in Sub Sahara Africa to build the largest cement factory in that jurisdiction.

God bless Nigeria
God bless Dangote

wizelink:
Okay. As long as it's not witch hunting action. Corruption in any level or category must completely be wiped out in Nigeria by God's grace.

so far dem no touch ibo money

SmartPolician:
Can the EFCC arrest Dangote? If you do that, you will run down your economy! That's why no serious should encourage monopoly.

Use laws to spread the wealth of your country.
Oh, I forgot - Nigeria isn't a country; it's just a joke taken so far.

ipob

spy24:
In the end Dangote will not be touched
But it is now clear that the north will be challenged like never before by this Tinubu government

na the same north go comot @bat after the first four years. Dis i foresee

mastermaestro:


And you believe those doctored records? You are not one of the investigators. I would leave you alone now.

Lol...doctored reports rendered by Banks on the CBN website?

Reports that are used by foreign correspondent banks to verify the fx flows against the various letters of credit, form M and form A transactions.

No need engaging further. First you thought I was lying when I said it public knowledge. Now you are saying it's fake.

Purge your heart of hatred and bias. The refinery will start work soon so choke on this!

Cheers !

God bless Nigeria
God bless Dangote

God please open the eyes of understanding and give our NL knowledge to comprehend.

Khyrvxjzy:



ipob

When you
When people shout monopoly I laugh because it shows a wanton display of ignorance

Let us break down what a monopoly is with a simple definition

"monopoly is defined as a single seller or producer that excludes competition from providing the same product. A monopoly can dictate price changes and creates barriers for competitors to enter the marketplace"

Now let's look at dangote's product lines starting with Pasta

In the pasta space we have dangote, BUA, Honeywell, Crown pasta, golden pasta, flour mills, and even the foreign varieties imported and smuggled into the country. Please explain to me in lay man terms, how he is a monopoly in the pasta space where we have over 10 players controlling different market share?

Let's face sugar and salt. In this space, we have bua, dangote, BUA, Union dicon, premuim salt, bay water salt and including smuggled products

Same applies to sugar. Infact the local production of sugar can only cover about 30% of daily consumption so the rest is imported.

In the cement space, there is BUA, Dangote, Ibeto,Lagarde etc. So where is the monopoly coming from. That he controls a significant market share does not make him a monopoly.

Ironically I guess we can say indomie noodles is also a monopoly since they control about 80% of the noodles market despite all the other players and noodles varieties in the market.

Whatisurproblem:
not knowing thier destiny has been taken by Dangote.

DARLINGTON869:
Tinubu say.... we die here.
Biggest mistake Dangote made in 2023 was to support Atiku. Abdul Samad and Elumelu pitched their tents with Tinubu. The rest is history.

Could you believe that APC set trap for Dangote and he entered? He was selected to be compagn member but, he rejected to be, so that he would be on the fence.

SharingIsLife:
This is serious. Dang has already slipped to 2nd place on the African billionaire's table.

What is serious? What has the first position done for him? You when no get anything...lol dey worry for who dey second....lol

Thinktwicemybro:
Oserheimen Osunbor

Next governor of Edo State.

Who be he?

deenee:


I hope you are aware that he has other sources of cash flow. So paying down on debt used to finance the refinery won't be a problem. He owns 85% of DangCem in Nigeria. 100% ownership of 10 other cement factories across Africa. 90% ownership of Nascon and Dangote Sugar respectively. Impressive real estate portfolio that gives good returns and a family office based in Dubai for cross border transactions.

Dangote Cement in Nigeria alone is a big cash cow and very profitable. And he has cement factories in 10 other African countries generating about 3.5 billion dollars in revenue annually.

The repayment was from other investors that bought into the refinery project. For example NNPCL bought about 20% stake in 2021 for about 2.7 billion dollars .

Other institutional investors have bought stakes in the refinery giving them equity ownership and proceeds from which have been used to pay down expensive debt.

Apparently alot of people don't understand how capital allocation along the lines of debt and equity work in a business. More importantly when to use debt vis- a- vis equity

Even if yall take the refinery from him. He is currently discussing with two countries in Sub Sahara Africa to build the largest cement factory in that jurisdiction.

God bless Nigeria
God bless Dangote

You are doing well, Dangote PR guru on Nairaland.

You have quickly woken up to your responsibility before they brutally damage your master's rep on social media.

More grease to your elbows sir.

Dangote response:

http:///41a5a5d7240106en_ng?link=1&client=news

deenee:


I hope you are aware that he has other sources of cash flow. So paying down on debt used to finance the refinery won't be a problem. He owns 85% of DangCem in Nigeria. 100% ownership of 10 other cement factories across Africa. 90% ownership of Nascon and Dangote Sugar respectively. Impressive real estate portfolio that gives good returns and a family office based in Dubai for cross border transactions.

Dangote Cement in Nigeria alone is a big cash cow and very profitable. And he has cement factories in 10 other African countries generating about 3.5 billion dollars in revenue annually.

The repayment was from other investors that bought into the refinery project. For example NNPCL bought about 20% stake in 2021 for about 2.7 billion dollars .

Other institutional investors have bought stakes in the refinery giving them equity ownership and proceeds from which have been used to pay down expensive debt.

Apparently alot of people don't understand how capital allocation along the lines of debt and equity work in a business. More importantly when to use debt vis- a- vis equity

Even if yall take the refinery from him. He is currently discussing with two countries in Sub Sahara Africa to build the largest cement factory in that jurisdiction.

God bless Nigeria
God bless Dangote

All these ones are excuses

Non of these high placed individuals is clean

Don't vouch one bit for them

Like one of my big Oga said
That all of these big men get enriched by hanging around corridors of power

That anyday they fell out with those in power

Closing them down is very easy
Because they ain't clean

Dangote has been enjoying from past Presidents most especially Obj era. That's when he amassed a lot

He was Obj boy

He fell out with yaradua

It was said when yaradua became president he went to see him
The president didn't give him audience
Things were not going well with him

What saved him was the demise of yaradua

Then Gej was so doing boy boy to him
He cashed out big time from Gej era


Buhari era he had an excellent relationship with him as fellow Northerner
He fell to the crookedness of past CBN governor who messed up big time

He is not in the good books of the president
That's why the EFCC are going after Him

When Adenuga fell out with Obj 2006/2007

His saving grace was that he escaped out of the country and was shuttling between the UK and our neighboring African countries

He didn't set foot on Nigeria till Obj handed over

SharingIsLife:
This is serious. Dang has already slipped to 2nd place on the African billionaire's table.

I have always been saying it, Naira's continuous and persistent fall is artificial and made possible by CBN & politicians.

Almost every politician of significant influence has dollar quota with CBN. Sanusi said some years ago that he could get millions of dollars from CBN with just a phone call. The racketeering is astounding. Emefiele gave Dangote billions of dollars.

When you combine that with the racketeering by banks, it's a national sabotage at the highest levels. Abacha was a Head of State for nearly 9 years, Naira did not move.

Dennisochampa:
I don't think dangote needs this now....
Let him focus on the refinery....
If the government was up and doing in the first place, we won't be where we are....

Don't worry
EFCC has changed, not like before where a company will be sealed, No!
Investigation will be ongoing and Dangote will still be operating unhindered.
Tinubu needs Nigeria money back, he is coming with red eye, Dangote must definitely find a way to pay back if he had taken from Nigeria unlawfully

stevups:


Could you believe that APC set trap for Dangote and he entered? He was selected to be compagn member but, he rejected to be, so that he would be on the fence.

There is a conspiracy going round and the plan is to have him cede part ownership of the refinery to some vested sources so they are really looking to pin him down by all means.

Again he isn't the only one CBN is investigating so why the undue focus on him?

The truth is the Dang refinery will demystify alot of the seemingly impossible cock and bull stories govt tells us about the oil and gas sector.

I mean we have heard consistently for the past 15 years about refinery maintenance spending billions of dollars annually yet no single refinery works.

The govt owned refineries will not work because the they are all over 40years old and without proper maintenance from inception. So trying to revive them is like flogging a dead horse. Same thing with Ajaokuta Steel Mill

Nigerians however don't like logic, we prefer and have orgasms and like it when people appeal to our emotions.

That's why a pastor will fix church programs on weekdays and people will attend to pray when they should be working and be productive.

Same way he paved way and basically did same in the cement and manufacturing space.

You people are shouting that cement is expensive at circa 6k for a product manufactured locally. Imagine having to buy imported cement with the devaluation issue on ground. The price fluctuations will be unbearable.

Just like NNPCL got the NA to adjust the PIA and include a clause mandating automatic equity ownership in any private refinery that refines 50k barrels per day.

By doing this last minute amendment to the petroleum industry act using our corrupt National Assembly, they automatically become part owners of the Dang refinery even when it was still under construction. They didn't even pay cash for the equity. They promised to deliver crude which they are currently delivering piece meal hence the delays in kick starting operations at certain sectors of the refinery.


Common sense isn't so common and logic is the kryptonite of the average Nigerian


Yes all business men lobby govt and this is a common phenomenon across all jurisdictions.

You think Elon Musk, Jeff Bezos etc don't lobby their govt? Dey play!

Lobbying happens even at local govt levels, talk less of state and federal.

I think y'all should be more concerned about the sudden rise of nouveau rich entrepreneurs with no explainable source of income especially those on social media who like throwing bundles of cash at parties. Perfect conduct pipes for MA.

(Tuale for Chief E of C and K Furniture)

God bless Nigeria
God bless Dangote
Go's bless every honest entrepreneur out there that still believes in the Nigerian dream and is contributing their quota to build the Nigeria of our dream.

Cheers!

loswhite:
What is serious? What has the first position done for him? You when no get anything...lol dey worry for who dey second....lol

Bro you dey harsh.....😄😄

membranus:


You are doing well, Dangote PR guru on Nairaland.

You have quickly woken up to your responsibility before they brutally damage your master's rep on social media.

More grease to your elbows sir.

Sir, I forgot to add that he also has the largest fertiliser plant in nigeria and currently building same in Brazil.

Choke on this!

P.S I don't know Dangote and I have never met him. But he is the largest employer of labour in tje private sector. Millions of families depend on him directly and indirectly for survival.

He single handedly opened up Ibeju -Lekki axis to development.

What has he done to Nigerians to warrant all the hate?

The apapa oshodi express was built by him, same with alot of other infrastructure. Why the undue hate?

Somebody was rejoicing on another thread that he is now number two richest person like the new number one sends them

God bless Nigeria
God bless Dangote

DARLINGTON869:
Tinubu say.... we die here.
Biggest mistake Dangote made in 2023 was to support Atiku. Abdul Samad and Elumelu pitched their tents with Tinubu. The rest is history.

But everybody have the right to support whoever he or she wants n that's the lie we keep hearing from a dead constitution. Dangote supporting a particular candidate should be his constitutional right.

deenee:


Sir, I forgot to add that he also has the largest fertiliser plant in nigeria and currently building same in Brazil.

Choke on this!

P.S I don't know Dangote and I have never met him. But he is the largest employer of labour in tje private sector. Millions of families depend on him directly and indirectly for survival.

He single handedly opened up Ibeju -Lekki axis to development.

What has he done to Nigerians to warrant all the hate?

The apapa oshodi express was built by him, same with alot of other infrastructure. Why the undue hate?

Somebody was rejoicing on another thread that he is now number two richest person like the new number one sends them

God bless Nigeria
God bless Dangote

Dangote is the real Ndi Developer!

loswhite:
What is serious? What has the first position done for him? You when no get anything...lol dey worry for who dey second....lol

All poor people live in envy and die bitter just like you. You can envy Dangote all your life, and he won't know it while you die bitter with psychosomatic illnesses.

Many heads will roll except for negotiations to set inMany heads will roll except for negotiations to set in...

SharingIsLife:

All poor people live in envy and die bitter just like you. You can envy Dangote all your life, and he won't know it while you die bitter with psychosomatic illnesses.

A big fool with zero ability to comprehend a little sentence. Go back and read or go back go secondary school to learn comprehension. Goat!!!

Buhari government practically gave the entire key and resources of the economy to this Dangote..

Why won't he be the richest when he gets forex at the lowest rates while other manufacturers and business owners especially from other regions don't?

Investigate abeg