₦airaland Forum

AngelicBeing:

He also forfeited $14.2 million in his US bank accounts that was seized ...after refusing to defend himself in court.

How many people in the world can walk away from $14.2 million dollars.

brain54:
Has to be one of the worst senate presidents...

Apart from stealing... He did better as governor!

More time as they plunder the nation and live like kings.

Rabiu also got accused by ex-employees of BUA of the same thing he accused Dangote of.

hisexcellency34:
Evil pipu

Battle for supremacy between two monopolists.

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accordadoga24:
Hehehe

He cannot travel to any country with extradition with USA or he will get the Hushpuppi treatment who got sent from Dubai, UAE to USA to answer charges for fraud and money laundering.

Aliko Dangote, Africa’s richest man has Abdul Samad Rabiu, another billionaire of attempting to instigate a probe into alleged money laundering at companies run by Dangote.

Dangote, BUA, Billionaires Fight in Public over Allegations Financial Impropriety
Abdul Samad Rabiu, BUA Group and Aliko Dangote, Dangote Group

The latest is coming after the truce brokered by Abdullahi Ganduje, then Kano governor and current APC chairman, between Dangote of Dangote Group and Rabiu of BUA Group seems to have been short-lived.

However, both conglomerates are now engaged in renewed clashes after a brief respite. Dangote Group recently accused BUA of running a smear campaign in the media over alleged financial crimes.

Through their large investment empires that stretch across sectors, they place Nigeria on the spotlight for good.

While Dangote Group has accused BUA Group of orchestrating a malicious campaign in the media by disguising as a concerned citizen, the latter on the other recalled how it overlooked its rival’s antics aimed at running it out of business.

In a seven-page statement titled: “Economic Sabotage : Our Stand,” published in the media on November 2, Dangote Group dismissed claims on its investigation for alleged illegal foreign exchange deals and money laundering running to $3.4billion under the watch of Godwin Emefiele, former governor of the Central Bank of Nigeria (CBN).

The company described the report as a rehash of a similar report peddled out operating as a concerned Nigerian” in 2016.

“The attention of the management of Dangote Industries Limited has been drawn to an unfounded allegation making the rounds in some online media, suggesting that the Company is being probed over alleged illegal foreign exchange laundering running to $3.4bn allegedly perpetrated by the Central Bank of Nigeria under the leadership of Mr. Godwin Emefiele over the years.

“As an organisation, it is not in our custom to respond to any spurious allegation. Still, since it is a rehash of a similar report peddled out of malice by a competitor masquerading as a concerned Nigerian in 2016, we are constrained to provide context to this issue.

“The reporting of this spurious foreign exchange allegation by some media houses was turned down by some credible traditional and online media news until it was featured as a paid advertorial in two Nigerian Newspapers BusinessDay and Leadership (Published on March 14, 2016) titled “Acts of Economic Sabotage by Dangote Cement” published in the name of David Osa Ighalo, from Benin, Edo State.

“It is saddening to note that this publication of Monday, March 16, 2016, wherein the author alleged that ‘monies went from the company in question to other sister Dangote Companies Outside Nigeria.

“It is estimated that almost $3bn, if not more, has been taken out of Nigeria through these means. This encourages round-tripping and, in effect, money laundering since there is no proper documentation has recently been given a fresh false slant by one Ahmed Fahad, purporting it to be a new petition directed to the attention of President Bola Ahmed Tinubu and Mr. Jim Obazee, the Special Investigator probing the CBN,” the statement read.

Responding, BUA, in a statement issued by its management on Friday, recalled how it resisted Dangote’s antics for 32 years as both organisations engaged in an acrimonious battle for control in their various market segments.

“We have been cast as the antagonists in a narrative woven with malice. We have not just survived; we have thrived, expanding our operations and contributing to Nigeria’s economy without resorting to subterfuge.

“It’s with a profound sense of responsibility and a heavy heart that we address the claims and very cheap attempts at blackmail levelled against BUA by Aliko Dangote in a recent 7-page editorial following months of sponsored campaigns of calumny against us using third-party platforms. To put things in perspective, it’s imperative to revisit history—a history not of rivalry but of resilience; not of enmity, but of endurance.

“In August 1991, a young BUA was doing its commodities trading business just as Nigeria faced a scarcity of sugar. As sugar was scarce, BUA was lucky to be one of the few with any stock for sale, and we stood prepared to supply the nation’s needs as best as our stock could.

“It was during this period that Aliko Dangote approached us to purchase sugar. If only we knew he was setting the first of many traps in our business history. He gave us a Societe Generale Bank of Nigeria cheque which bounced upon presentation to the bank. Unbeknown to us, this was a ruse that would lead to a court-sanctioned freeze of our assets orchestrated by Dangote.

“For three agonising months, our accounts were garnisheed, warehouses shuttered, and our spirit tested. Yet, from the ashes of deceit, BUA survived.

“Fast forward a few years later, we decided that since we were making good progress in our various businesses, we should open a sugar refinery. We approached one Usman Dantata (now late), Aliko Dangote’s uncle, and leased his NPA waterfront land (4.5 hectares) at the Tincan Island port, ‘Polo House’.

“We took the land, signed an agreement with the consent of NPA, and paid all applicable dues. Dangote waited until our contractors and equipment had been mobilised to the site, then he went to former President Olusegun Obasanjo. President Obasanjo had the land revoked entirely and gave the lease to Dangote. As a result, even his uncle lost the land. BUA was only given 24 hours to vacate the land,” it said.

It is unclear how this rift would be resolved this time around.


https://www.nigeriacommunicationsweek.com.ng/dangote-bua-billionaires-fight-in-public-over-allegations-financial-impropriety/


https://www.bloomberg.com/news/articles/2023-11-04/billionaires-dangote-rabiu-feud-publicly-over-financial-impropriety-in-nigeria

naija4life247:
Go and find out about a former Minister of Niger Delta whom he is fronting for. It's now News, everybody knows this in Nigeria

What they did to Amnesty funds was a travesty.

cc

PortHarcourtcit

They have conspired to damage the country beyond repair and become houses to facilitate money laundering and fraud.

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biodun556

kettykin:
I have been thinking of this , I guess the man and not tge company was indicted

Company and individual are separate. He still has pending charges as an individual and an outstanding arrest warrant.

koondog:
Westerners please rest, stop this attack on Igbos left and right. Haba! Igbos know who your enemies are, not Northerners.

This Onyeama case has been resolved by US court in 2022 and he was acquitted

US court acquits Air Peace and Onyeama
https://www.nairaland.com/7410440/allen-onyema-us-court-acquits/2

No acquittal as reported by Premium Times. He never showed up in court to defend the charges, so how could he have got acquitted. The arrest warrant and 36 charges are still outstanding.

Even if Air Peace flies to JFK New York he still cannot enter American soil without been handcuffed and arrested to be brought before a court of law.

https://www.premiumtimesng.com/news/562624-allen-onyema-on-the-run-from-us-fraud-charges-as-crime-partner-is-convicted.html

nothingspoil70:
Thought he has been cleared

He has not.

He never turned up to US court to defend the charges.

https://www.premiumtimesng.com/news/562624-allen-onyema-on-the-run-from-us-fraud-charges-as-crime-partner-is-convicted.html

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Corruption Indictment: Will Air Peace Be Allowed to JFK New York?

Will they grant him access to their air space.

papyjaypaul:
Has the video been removed? Because he called the Bank CEO who just died, so maybe they recorded it before his death and didn't know

Video is back up.

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AfonjaEkiti:
Nigeria is not real

Country is a gangster paradise.