By Damilare Adeleye
The Dangote Group has denied reports alleging a purported rift between its President, Aliko Dangote, and the Chairman of the United Bank for Africa (UBA) Plc, Tony Elumelu.
A post by one Oghneminehhhhh on X (formerly Twitter) had claimed that Dangote revealed that he was financially incapacitated when building the Lagos refinery in 2021.
The X user further claimed that Dangote said he “reached out to many of my business colleagues for financial assistance, including Femi Otedola, Abdulsamad Rabiu, and Mike Adenuga”.
According to the post, the billionaire said Elumelu allegedly promised to assist him with $20 million, but later blocked his contact, quoting Dangote to have said his “other business colleagues came together and raised $500 million for me” and that Femi Otedola alone contributed $300 million.
In a statement released on Saturday, the Spokesperson of the Dangote Group, Anthony Chiejina, described the claim as false, dismissing allegations that the Dangote Petroleum Refinery & Petrochemicals was financed through personal borrowing from friends.
The Dangote Group warned individuals peddling such falsehoods to desist or face appropriate legal action.
“The Dangote Group has become aware of a publication titled ‘Aliko Dangote Speaks Out on Why He Distanced Himself from Tony Elumelu,’ which is false, malicious, and baseless. At no time did the president or the Group make such statements or express such sentiments.”
“The Group categorically rejects claims that the development of the Dangote Petroleum Refinery & Petrochemicals was financed through personal borrowing from friends. These assertions are wholly inaccurate and constitute a deliberate misrepresentation of facts. As a matter of principle, Aliko Dangote neither finances his projects through personal borrowing from friends nor engages in lending arrangements of that nature. Any individual making such claims should provide verifiable evidence to substantiate them.”
“Equally false are suggestions of any estrangement between Aliko Dangote and Mr. Tony Elumelu, with whom he maintains a longstanding and cordial relationship.”
“Furthermore, the Group notes with concern a rising pattern of fabricated statements and the unauthorized use of Aliko Dangote’s name, likeness, and image in AI-generated advertisements and other misleading content. These actions amount to reputational harm and potential fraud.”
“All individuals, organizations, and platforms involved in the creation, publication, or dissemination of such false content are hereby put on notice to desist immediately. The Group will take appropriate steps, including legal action where necessary, to protect its reputation and that of its leadership.”
“Dangote Group remains committed to upholding the highest standards of integrity while continuing to drive industrialization, economic self-sufficiency, and sustainable development across Africa,” the statement read.