₦airaland Forum

This is what we constantly say. The CBN through its unethical and corrupt practices over time has eroded it's trust amongst Nigerians and increasingly made itself a minority player in the economy.

The stark proof of this is the CBN's inability to reign in inflation like it's counterparts around the world are doing presently and a further proof was it's failure to change the face of the currency in the run up to the last elections.


When institutions of governance pander to the will of individuals and by so doing put the interests of the generality at bay there are serious negative implications and when it involves banking that lives and dies on trust then the situation is dire.

A similar thing is happening with the Judiciary, an institution that is struggling to keep its head above the waters of law and order simply because it's administration is often dodgy in pandering to strong political and economic interests and not always operating above board.

So just as you have self help, vigilantism, anarchy due to a weak judiciary, so you have self help in the foreign exchange market aka black market due to a weak and corrupt Reserve Bank.

Wodu89:
And Humpty Dumpty had a great fall.


Dangote had long been dangerously and ferociously cannibalizing the country. A few elites have been longing for it's end.


From severe monopolistic advantages to unhinged access to subsidized forex rates and all sorts, the country was bending it's back backwards for this individual. It's hi time Dangote left Nigerian economy alone.


I had longed complained about Dangote and CBN regarding this :


On a continued basis over the years and contrary to the approvals, Emefiele’s CBN continued illegally supplying money from Nigeria’s treasury at cheaper rates to Dangote Group



This is the height of it :



To further highlight the brazenness of these actions, it recently came to light that the suspended CBN Governor, Godwin Emefiele, had borrowed USD 1 billion from Afrexim Bank in the second quarter of 2023, USD 750 million of which was illegally funneled to Dangote at a concessionary rate. These funds were subsequently transferred to Dangote’s account abroad just as previously done in the past





We borrowed $1 Billion at let's say 600 Naira per dollar, then had it stolen and gifted to Dangote at 200 Naira per dollar in the name of industrialization of the country.



Stop voting people whom the northern canal draws close to. Much of these kinds of truths would not surface when you continue doing so. This is what Chief Adebanjo had been crying over for years.


Many youths are wasting away and are mere dead beings in walking human shells. Stop the thnic and religious biases and support individuals that have a strong desire to change the narrative


Dangote is a crook


If CBN is investigated.iger the past 8-12 years, we will realize that the country has long been sold to Dangote

So who do you expect will act on this petition against Dangote?

ofwest47:
All anti Dangote groups continue to Bury your heads in Shame, Dangote group remains the highest employers of Labour in Nigeria more than the entire Federal and State governments group in Nigeria.
Take it or leave it, Dangote groups continue to remain 💯 the the richest in Africa and the highest employers of Labour in Africa 🌍.

How does that justify what it is the petition alleged that he did?

Yankee101:
Let him go join Emefiele in jail

I’ve been waiting for this to be brought to light and hammered upon

If Emefiele is in jail so should Dangote

How can you give discounted billions to one man alone?

All he needs to do is colllect it from cbn and take it to Maitama to change with Malams and he’ll be a billionaire from it alone

Every person gets a limit to how much they can get from the cbn, not him. And the refinery is still not yet ready. How much does it take to build a brand new refinery?

Ethiopian air funds were transferred to him so he could transfer his Ethiopian cement factory funds to them in their country, the cbn gave only him that exception


These are not billionaires due to genius but the exploitation of politicians and a broken system to collect rent

Yahaya Bello had to open fire on him for exploiting kogi resources without paying any royalty and still sellling cement more expensive in kogi than his home state of Kano


Daylight thieves, cheats and crooks

His uncle Santana is long retired but Dangote had to drag this pooor man to tinubu’s banquet and has made him to start attending politicians’ functions just so the hammer won’t fall on him


Dangote is a crook and should sincerely be in jail

You are talking as if u are not a nigerian no one will dare arrest dangote tinibu don't have that kind of liver to arrest and prosecute his own friend who has invested heavily in his lagos empire.

Dangote is an evil man shall, he has been fighting BUA cement in Edo, there was a time he through Obaseki asked IGP to declare BUA chairman wanted for attempted murder on gov Obaseki, which was later settled by their northerner elders. Dangote is a very dangerous scammer that has the patrimony of Nigeria in his pocket, he keeps fleecing the nation through monopoly and FX racketeering. Sadly, nothing will come out from this report as a thief hardly prosecute his ally, more so, I am sure Tinubu has a stake in Dangote refinery and cement. Sorry guess he's supposed to be in jail but nothing will happen.

jackcanfield:
Some people have just been trying to fight Alhaji all this while, I am just laughing and I am just watching .... This yeye guy writing stupid petition ask him how much tax he has paid to the Federal, State or Local Government ....ode ...

How does that justify what has been alleged that he did?

lexy2014:
How does that justify what has been alleged that he did?

Glad you know it is an allegation .. as well as a publicly quoted entity whose books goes through regular audits and checks

jackcanfield:
Glad you know it is an allegation .. as well as a publicly quoted entity whose books goes through regular audits and checks

You didn't answer the question.

How does that justify what has been alleged that he did?

lexy2014:
You didn't answer the question.

How does that justify what has been alleged that he did?

It is still an allegation that has nothing substantial to it.

Kukutente23:
They are both ruled by coup plotters

Brilliant 👍Thank you!

Richest black scammer in the world!

With time we will stop to celebrate criminals like dangote.

JaneYave:
Brilliant 👍Thank you!

I don't get

Emefelie.
Hmm.

Classic example of the typical black African man.

Dangote is a chanced billionaire he should be jailed.

Wodu89:
And Humpty Dumpty had a great fall.


Dangote had long been dangerously and ferociously cannibalizing the country. A few elites have been longing for it's end.


From severe monopolistic advantages to unhinged access to subsidized forex rates and all sorts, the country was bending it's back backwards for this individual. It's hi time Dangote left Nigerian economy alone.


I had longed complained about Dangote and CBN regarding this :


On a continued basis over the years and contrary to the approvals, Emefiele’s CBN continued illegally supplying money from Nigeria’s treasury at cheaper rates to Dangote Group



This is the height of it :



To further highlight the brazenness of these actions, it recently came to light that the suspended CBN Governor, Godwin Emefiele, had borrowed USD 1 billion from Afrexim Bank in the second quarter of 2023, USD 750 million of which was illegally funneled to Dangote at a concessionary rate. These funds were subsequently transferred to Dangote’s account abroad just as previously done in the past





We borrowed $1 Billion at let's say 600 Naira per dollar, then had it stolen and gifted to Dangote at 200 Naira per dollar in the name of industrialization of the country.



Stop voting people whom the northern canal draws close to. Much of these kinds of truths would not surface when you continue doing so. This is what Chief Adebanjo had been crying over for years.


Many youths are wasting away and are mere dead beings in walking human shells. Stop the thnic and religious biases and support individuals that have a strong desire to change the narrative


Dangote is a crook


If CBN is investigated.iger the past 8-12 years, we will realize that the country has long been sold to Dangote

Na waho for this country, Revelation

Dangote cash out from our money
Audio billionaire

jackcanfield:
It is still an allegation that has nothing substantial to it.

You claimed that "Some people have just been trying to fight Alhaji all this while, I am just laughing and I am just watching .... This yeye guy writing stupid petition ask him how much tax he has paid to the Federal, State or Local Government ....ode ...".

How does your claim above justify what has been alleged that he did?

Wodu89:
And Humpty Dumpty had a great fall.


Dangote had long been dangerously and ferociously cannibalizing the country. A few elites have been longing for it's end.


From severe monopolistic advantages to unhinged access to subsidized forex rates and all sorts, the country was bending it's back backwards for this individual. It's hi time Dangote left Nigerian economy alone.


I had longed complained about Dangote and CBN regarding this :


On a continued basis over the years and contrary to the approvals, Emefiele’s CBN continued illegally supplying money from Nigeria’s treasury at cheaper rates to Dangote Group



This is the height of it :



To further highlight the brazenness of these actions, it recently came to light that the suspended CBN Governor, Godwin Emefiele, had borrowed USD 1 billion from Afrexim Bank in the second quarter of 2023, USD 750 million of which was illegally funneled to Dangote at a concessionary rate. These funds were subsequently transferred to Dangote’s account abroad just as previously done in the past





We borrowed $1 Billion at let's say 600 Naira per dollar, then had it stolen and gifted to Dangote at 200 Naira per dollar in the name of industrialization of the country.



Stop voting people whom the northern canal draws close to. Much of these kinds of truths would not surface when you continue doing so. This is what Chief Adebanjo had been crying over for years.


Many youths are wasting away and are mere dead beings in walking human shells. Stop the thnic and religious biases and support individuals that have a strong desire to change the narrative


Dangote is a crook


If CBN is investigated.iger the past 8-12 years, we will realize that the country has long been sold to Dangote

Apt!

The shyyythole is being ruled by a bunch of self serving crooks and criminals!

F**k Tinubu

Buhari literarily sold Nigeria to Dangote. From financing his refinery, to opening up the border for him, to selling dollar to him at x2 less than the market price. Buhari is a disaster that must never be repeated!

Na Tinubu run this one, walai. Jagaban 🙌🏾🙌🏾🙌🏾🙌🏾

franchasofficia:
Who doesn't know that Aliko Dangote became the unmerited Billionaire he is today through CBN FOREX waivers he uses to do his usual Dollar round-tripping that makes him billions weekly?


Let me explain this for the lay men and women on this forum.


Aliko Dangote will go to CBN in the guise of helping to grow Nigeria's economy to collect waiver to buy Dollar at CBN official rate of say 450 naira per $1 and then Dangote will buy like $500million dollars at $1 = 450naira.

Then he will go to black market to sell it at $1 = 750 naira and make 300 naira per $1.


Multiply 300naira by 500,000 that's Dangote's profit in one single FX transaction and he will use all these free money he makes to crash cement price to push Lafarge Cement and others from the market using illegal price slash.



This is how Dangote and many other unmerited Nigerian Billionaires became illegal Billionaires they are while the few hardworking Nigerians labor daily for peanuts.

Are u saying dangote cement is cheaper?

flokii:
The refinery is to give him monopoly over the oil and gas industry na.. so he will be sole authority importing and dictating price of PMS, AGO and other petroleum products... Ideally it's NNPC that should have like 4 - 6 working refineries to save the economy, not a private businessman like Dangote.

Pick up the nonsense Petroleum Industry Act they did and see the unpatriotic laws they smuggled into the document for some selected few to be getting richer..

It's like you don't know these Northerners are ready to destroy anything just to continue enriching themselves.. If you know the number of Space Agencies and Research Institutes in Abuja they have destroyed, you'll marvel. There are some agencies in Abuja that you won't see advert for recruitment, they have shared all the slots for 100 percent Northerners and they travel for overseas study like they are travelling to their backyard, wasting Nigeria's resources.

But we thought Akeredolu Igbo wife was ya headache and migraine nah.....or are you tired of ya Igbo this Igbo that usual attention?

Keep blaming the Igbos o, until northerners chop Una everything,clean mouth

aybabz101:
I had an arguement with someone on this platform that Dangote is one of the worst things to have happened to Nigeria. Exploiting his connections with the rogue government officials to siphon the Nigerian population....his cement is another thing...

If na you, wetin you for do
Is it his fault their is connection to exploit?
Why you sef no get connection or use am?

He cant compete fairly...all his other ventures especially in the food industry was a totall failure....his successfull businesses are the cement and sugar industries which technically are a monopolistic industries in Nigeria

You really think life is fair?
Did he stop others from competing? Ashaka cement, lafarge, elephant, bua, ibeto. Do you even know what a monopoly is?

His food biz is still going. He sold it and tiger foods that bought it is thriving

His refinery was practically built by the Nigerian government....he was given tax rebate, free from customs duties and dollar sold to him at a very cheap rate, far below the official CBN rate....

You prefer he continue importing? Think bfor you talk

The man is a leech and Nigeria really needs to get rid of him

Then what. You think he still not be replaced.?
You prefer importing cement and petrol abi?
Cut your nose to spite your face
Bad bele is not a good look

Lastmankc:
The truth is gradually coming out.That's why he is the richest man.I haven't seen a clean millionaire in Nigeria.So, someone can't make clean wealth in this country?

Dangote was the richest man in Africa way before this.

The problem isn't Dangote but Buhari whose meddling in the forex market enabled such thievery. That is why Tinubu wants to unify the exchange rates so that such fraud would be impossible to execute.

Yankee101:
Let him go join Emefiele in jail

Why

I’ve been waiting for this to be brought to light and hammered upon

Always negative i see
This is for they will wish for your downfall

If Emefiele is in jail so should Dangote

Why

How can you give discounted billions to one man alone?

Why not
Shebi you prefer govt control instead of free market demand and supply. What did you think would happen. Govt chooses winners and losers. That's what socialism does

All he needs to do is colllect it from cbn and take it to Maitama to change with Malams and he’ll be a billionaire from it alone

But when tinubu allowed same rate you all complaining

Every person gets a limit to how much they can get from the cbn, not him. And the refinery is still not yet ready. How much does it take to build a brand new refinery?

Welcome to govt power 101

Ethiopian air funds were transferred to him so he could transfer his Ethiopian cement factory funds to them in their country, the cbn gave only him that exception

Do you know how much he scratches their back

These are not billionaires due to genius but the exploitation of politicians and a broken system to collect rent

Why you no do an since e easy?

Yahaya Bello had to open fire on him for exploiting kogi resources without paying any royalty and still sellling cement more expensive in kogi than his home state of Kano

How did it end
Why YB no build him own cement olant share an for free?

Daylight thieves, cheats and crooks

Nobody force you to biy his cement or foodstuff o. Enough alternatives

His uncle Santana is long retired but Dangote had to drag this pooor man to tinubu’s banquet and has made him to start attending politicians’ functions just so the hammer won’t fall on him


Dangote is a crook and should sincerely be in jail

go jail am na

Dialpad:
He should be forced to pay back.

In Nigeria, you don't have to be smart to become successful.

Know who is who , be at the right place at the right time.

And you think stupid ppl can do all this you mentioned

People will clap for you thinking you are super smart.

You need to have a conversation with some current and former governors... their low level of intelligence will amaze you

yet they are governors and you are nobody and yoy really think you are the smart one? 😂🤣🤣😂🤣🤣

tishbite42:
Na wa o
Fulanis and Yorubas wan wreck this country kpata kpata

igbos wen dey import every nko

Za Dangote a use am our kudi ya sha gote ko.

abiolamitodun:
Are u saying dangote cement is cheaper?

Whenever he notices other brands like Lafarge are gaining more ground than his, he crashes the price to temprarily push them out of the market and once achieved, he increases price again