Dangote Group has dismissed claims of a fallout between its founder, Aliko Dangote, and Tony Elumelu, chairman of the United Bank for Africa (UBA), describing the reports as false and malicious.
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.
However, in a statement issued on Saturday, Anthony Chiejina, Group Chief Branding and Communications Officer of Dangote Group, categorically refuted the claims.
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.
The company stressed that Dangote does not fund projects through personal borrowing from friends and is not involved in such lending arrangements.
“The group categorically rejects claims that the development of the Dangote Petroleum Refinery & Petrochemicals was financed through personal borrowing from friends,” the company said.
“These assertions are wholly inaccurate and constitute a deliberate misrepresentation of facts.
“Equally false are suggestions of any estrangement between Aliko Dangote and Mr Tony Elumelu, with whom he maintains a longstanding and cordial relationship,” the company said.
“The group notes with concern a rising pattern of fabricated statements and the unauthorised use of Aliko Dangote’s name, likeness, and image in AI-generated and other misleading content.
“These actions amount to reputational harm and potential fraud,” the statement reads.
The group warned those responsible for creating and disseminating such materials to desist immediately.
“All individuals, organisations, and platforms involved in the creation, publication, or dissemination of such false content are hereby put on notice to desist immediately,” the company said.
