Dangote Group has dismissed claims of a fallout between its founder, Aliko Dangote, and Tony Elumelu, chairman of United Bank for Africa (UBA), describing the reports as false and malicious.
In a statement issued on Saturday, Anthony Chiejina, Group Chief Branding and Communications Officer of Dangote Group, categorically refuted the claims.
The denial follows a viral post on X by a user identified as Oghneminehhhhh, which alleged that Dangote recounted financial difficulties during the construction of his refinery in 2021.
According to the post, the project was only halfway completed when Dangote reportedly ran out of funds and sought financial support from business associates, including Femi Otedola, Abdulsamad Rabiu, and Mike Adenuga.
The post further claimed that Elumelu promised to provide $20 million in assistance but later cut off all communication. It also alleged that other associates raised $500 million for the project, with Otedola said to have contributed $300 million.
The company described the post, titled “Aliko Dangote Speaks Out on Why He Distanced Himself from Tony Elumelu,” as “false, malicious, and baseless.”
Dangote Group added that it is considering legal action against those responsible for originating and spreading the content.
“At no time did the president or the group make such statements or express such sentiments,” the company said.
