citygarden:
It can be possible because it can not be only him doing all this alone. He most have given backup by powerful northern to do all this fraud. I trust Dangote, he knows how to negotiate his way, by implicate another government officials. Like what he did against Faruq

Which Faruq are you talking about?

The igbo man is supposed to shut up and take the blame for a crime committed by everybody. I see what the op is doing

Rich getting richer , poor getting porrer.

Buhari and Emefiele simply ran
CBN like a limited liability company
with Emefiele as CEO and Buhari as
Chairman❗️❗️❗️

Both of them shared the profits, but if
there are losses, the Nigerian citizens
pay for the losses.

GVTAsiwaju:


It was Femi Otedola that implicated Faruq Lawanson and not Dangote

Faruq Lawan.

aminulive:



https://politicsnigeria.com/efcc-raid-has-emefiele-thrown-dangote-under-the-bus/

Why didnt they raid Tunde sabiu and isa funtua's children

Dey play!

The person wey send them know where him send them go, know why him send dem go there.

Refinery share no gree share

Nothing will give me more pleasure than to see these guys as targets for a firing squad.

Anini no do reach this one.

Primebuilders:
See the way this writtee is demonizing Emefiele. Instead of him to say Dangote was implicated in the efccprobe he is writing it to say Emefiele trow Dangote under. A crime committed by two of them. Emefiele was supposed to shiled him because he is Dangote and a northerner

Exactly...

I'm not seeing any bus, let alone "throwing".
Or you don't want Emefiele to say what happened?

He was having issues with Otedola, but he implicated Faruq the former House of Representatives with bribery allegations

Sheuns:


That was Otedola.

The former House of Representatives
.

Ikaeniyan0:
Which Faruq are you talking about?

Tinubu has betrayed Dangote
The first president to do so

Which I support Tinubu instead of Obi.
Tinubu will at least generate n steal from what he generated but this fools will collect loan n steal the same loan as if it won't be paid back.

grandstar:
How can one borrow money for the primary goal of simply embezzling it?

Emefiele has no conscience. There's bound to be a lot more sleaze to be discovered.

citygarden:

The former House of Representatives
.

Otedola accused Faruq of asking for bribe, not Dangote .

These ppl have finished this country get ready for a spate of armed robbery and kidnapping all over the country this is what the poverty is going to do

Naija govt may end sealling dat refinery cos most criminals put naija money inside......

[quote author=Elvis2kay post=127789561]If Dangote can refine crude oil for Nigerians for free in the next 12 years, he should be pardon [/quote

ipob

kuku go there with iron condemn and take your own share

People look up to dangote as an hardworking and complex man doing complex things to make money.
Bullshit
Generally
If you like attach hardwork to money, that will be your reality, if you attach softwork to money, that will be your reality, if you attach smart work (aka no work) to money that will also be your reality.
Everyone is getting it according to their own mentality knowingly or unknowingly.

Fiscus105:
I'm seeing Dangote going out from 1st -5th Africa richest.

The same way India richest man, gone out of 1st-10th richest.

Most of these billionaires make there money From the corridors of power

So they can easily go down easily
If New Government doesn't favor them

Aliko has been enjoying so much

Maybe he don reach him peak and about to go down now

Just maybe

NaughtyBrainiac:
The system is very very corrupt. None of these guys at the top is clean.

That's why some of us get furious when a group of people try to tell us that one of them is a Saint and a Messiah.

Only foolish people say that rubbish.

All of them are corrupt. All of them!

Plus you.
You have never heard of lesser evil?

oz4real83:
Emefiele, with the name of CBN\Nigeria borrowed $1b and gave a large part of the loan to Dangote while the rest was possibly embezzled, but Nigeria and Nigerians will continue to repay the interest and the capital . This is why there has been nothing to show for the several loans over the years . Nigeria needs to punish corruption through death penalty

Exactly. Except the punitive measure for corruption is made stringent, people will continue to thread on that path without fear. May be then we will begin to have reluctant leaders, as it is in the past.

Too many ignorant people on this thread. The comments show this.

So all this long rubbish is to exonerate Dangote in a crime involving him transfering Nigerias Hard currencies to Dangote group for no reason?

aminulive:



https://politicsnigeria.com/efcc-raid-has-emefiele-thrown-dangote-under-the-bus/

So, what is actually the case here if I may ask?

Fiscus105:
I'm seeing Dangote going out from 1st -5th Africa richest.

The same way India richest man, gone out of 1st-10th richest.

Continue to dream while EFCC entertain you with half-bake news.

Bigchristo:
Dangote has been using Nigeria money to finance his businesses since day one, the one that amazed me most is how CBN borrowed him money to the tune of 120 billion to build refinery but they keep telling Nigerians that there’s no money, truth be told Emefiele isn’t the only person responsible for whatsoever crime he is being tried for, dem plenty by the time him sing lots of prominent and powerful politicians in this country will be indicted not only Dangote

So,in your mind CBN borrowed money gave Dangote freely?

sparko1:


Actually, the crime was Emefiele's, it's not a crime to buy forex.

It should be a crime to borrow dollars and then sell at official rate to one business while every other business buy at the black market.

Don't also forget that multinational firms like Dangote Group bring billions of dollars into Nigeria and expecting him to buy forex that he owns looks stupid.

Gboss247:
Continue to dream while EFCC entertain you with half-bake news.

Indeed you are hulucinating , perhaps u still on agro of nonsense u smoke across crossover.

Check the person u mentioned or u give it phone for person who can interpret English for u.

May you not see psychiatrist cos of excessive Colorado" intake.

WahalaWahala...

First, the EFFC search light isn't on Dangote alone but on about 55 other companies that had access to FX from CBN.

I can bet you that nothing will happen because all transactions were done by the book.

The man entered into a forward contract to buy FX from the CBN at official rate to import machinery,equipment and pay for technical and advisory services and expatriates wages building his refinery.

For the morons that are happy that he isn't the richest man in Africa again, let me explain what a forward contract is.

"A forward contract is a customized contract between two parties to buy or sell an asset at a specified price on a future date. A forward contract can be used for hedging or speculation, although its non-standardized nature makes it particularly apt for hedging"

CBN based on FX availability supplied him at different intervals and published the allocations in several national dailies for the world to see at the request and instance of Dangote.

At some point and due to Covid 19 restrictions which obviously affected dollar inflows, CBN had to resort to accessing USD from Afrexim Bank to meet this committed obligations and to mitigate the impact of USD scarcity and devaluation from their side. That amount is 1 billion USD, out of which 750m was transferred for the payment of technical and advisory services and also payment to the expats working on site to build the refinery.

The same way Nigeria has access to funds from Afrexim to settle most of the forward options that have matured with CBN late last year.

BUA,Oando, Nest Oil , Nestle, Olam,TGI,Tolaram etc all have these arrangements with CBN and they are have been asked to present their documents for review.

This kind of sensational journalism is what kills the country and y'all expect foreign investors to invest? Keep playing

For those shouting. FX allocation before the unification of rates was based on priority and as such CBN would only allocate to critical sectors investing in the creation of jobs in manufacturing, oil and gas,agriculture etc. Therefore your request for PTA or BTA or even payment of foreign schools which has no economic impact on the country would not be given top priority. And this is the reason most allocations for the latter are usually not met in a timely manner. I hope y'all understand now?

The same still applies till today.

By the way Dangote Refinery has received 4 million barrels of crude from NNPCL. Remaining 2 million barrels to kick start the refinery and he will be back at number one.

The drop in Forbes rankings happened to everybody from Dangote, BUA, Adenuga and Otedola.

They made more money in naira but devaluation affected them. Infact Dangote increased his wealth by 3.5 trillion naira in 2023 for those that don't know.

God bless Dangote
God bless Nigeria

God open the eyes of understanding and increase the intellectual capacity of the morons here so they can understand

Are we talking about the so-called quota system billionaire, Aliko Dangote, who used the Central Bank of Nigeria (CBN) as his personal piggy-bank under former CBN governor, Emefiole and others before him? Truth be told, no reasonable person truly believed or was enamored by Mr. Dangote's FAKE title as the richest man in Africa. This is a Fulani man who the Fulani Government of Nigeria (FGN) enabled to monopolize every aspect of the economy of the useless and failed Nigeria. Now, tell me, even if you're the dumbest person ever, would you NOT become the richest man in Africa if the Nigerian government helps you by offering you FREE money and creates a monopoly for you? It would be foolhardy if Mr. Emefiole allows himself to be the only fall guy after he had been used, abused and dumped by the Fulanis, Presidiot Muhammad B0K0HARI and his family, to be precise.

Hausa reign is over for now
If not who would have thought they’d touch Dangote despite all his economic sabotage all these years?