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Dangote repatriates $687,977m from Pan-African operations

Dangote Industries Limited (DIL) has revealed that its pan African operations have fetched Nigeria $687,977 million.

The company said in that addition to a $111.968 million cash swap between Dangote Cement Plc and Ethiopian Airlines, it has repatriated approximately $576.009 million through various Nigerian banks to far, saving the same amount that would have been paid by the Central Bank of Nigeria (CBN).

Dangote re-affirmed its determination and belief in Nigeria, noting that the present government of President Bola Tinubu, has shown the will and resolve to get the economy moving again.

“We believe in Nigeria, and we believe in Africa. We are genuine and authentic about our investments, and we call on all relevant agencies to investigate our FX transactions in the past ten years and make public any infraction noticed or discovered,” he said.

Declaring that all foreign exchange bought in connection with its African Project Expansion were authentic and used only for their intended purposes, Dangote disclosed that the projects for which the foreign exchange was used are open to the public eye.

“The commissioning events of these projects were well documented and covered by both local and international media. There are also print and electronic copies of the commissioning ceremonies as further testimony to the judicious utilisation of the funds.”

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