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WAR! Dangoge battles BUA! *Denies getting illegal forex from Emefiele
Management of Dangote Industries Limited (DIL) has refuted allegations that it engaged in illegal foreign exchange deals, warning those peddling the allegation of economic sabotage against the company to desist from such underhand practices.
It gave the warning following what it alleged as “claims in some sponsored reports in the online media,” suggesting that the company is being probed for alleged illegal foreign exchange deals and money laundering by the Special Investigator, Jim Obazee, who is probing the Central Bank of Nigeria (CBN) under the leadership of the former governor, Godwin Emefiele.
The latest development is coming on the heels of what appears a recurring battle between DIL owned by African richest man, Aliko Dangote and the BUA Group, owned by Abdul Samad Ishiaku Rabiu, both playing in the league of Nigeria’s leading investors in various sectors.
Describing the allegation as “spurious and a rehash of a similar report peddled out of malice by a competitor, BUA Group, masquerading as a concerned Nigerian in 2016,” the company said in a statement that “the spurious and false story was started in 2016 and published in both BusinessDay and Leadership Newspapers,” accusing the authors of the report of rejigging it to make it appear as authentic and a new development.
Dangote said: “It is saddening to note that this publication of Monday, March 14, 2016 in BusinessDay and Leadership newspapers where the author had alleged that about “$3billion foreign exchange sourced from the CBN were diverted to other Dangote companies outside Nigeria, a practice that encourages round tripping and effect money laundering since there is no proper documentation.
“The same false report back in 2016 is now being given a fresh false slant by one Ahmed Fahad purporting it to be a new petition directed to the attention of President Bola Ahmed Tinubu and Mr. Jim Obazee, the Special Investigator probing the CBN, and subsequently different blogs and social media platforms have been carrying variants of this arrant falsehood to the detriment of our corporate reputation.
“Attempt by the authors of this misleading allegation to give it a fresh life in the media is baffling as the two newspapers that were misguided into publishing it as advertorial then (2016) have since publicly apologised to the Management of Dangote Industries Limited in writing as well as retracted the advertorial in its entirety in their respective publications. Indeed, BusinessDay and Leadership Newspapers admitted that the advertorial was sponsored by Messrs. BUA Nigeria Limited.”
DIL re-emphasised that foreign exchange for its numerous projects were sourced strictly from Interbank Foreign Exchange market in compliance with the CBN approvals and that “Letters of Credit” were established for the construction of the various operational plants and for the purchase of heavy equipment and spares required for the take-off of the Dangote Cement plants.
“The terms and conditions for payments on the transactions were clearly spelt out in the Letters of Credit instruments and in line with the International Chamber of Commerce – Universal Customs & Practice for Documentation Credit – UCP 600. It is also crucial to note that the Letters of Credit in favour of Sinoma International Engineering Co Ltd (a Chinese Government owned company), being the major contractor who accounted for over 75 per cent of these expenditure were paid against the presentation of all relevant shipping documents. There was no single payment that was made through any Dubai company owned by us.
“All FX purchased in respect of our African Projects expansion were fully utilised for what they were meant for. The projects for which the FX was utilised are visible for everyone to see. It is on record that some of these projects were commissioned by Nigerian top-ranking government officials and in attendance were Chief Executives of various banks, Captains of Industries and the Presidents of the host countries supported by their Senior Government Officials.”
The company further stated that funds invested in its expansion project across African countries were legitimate capital investments in those countries and the repatriation of FX in sum of $576 million so far had helped to boost foreign Exchange earnings in Nigeria and stabilise the FX Market.
Besides, DIL emphasised that it had “always funded the construction of her various plants from Interbank FX Market in line with the CBN directives and relevant periodic progress reports were submitted to the banks for onward submission to the Central Bank of Nigeria.”
In a quick riposte on Saturday, Dave Umahi, Minister of Works, has cautioned Nigerians to be circumspect in the manner they react to the story of the death of a female student in his home in Ebonyi State, warning against the temptation of jumping to conclusion.
Conveying his position on the highly-volatile matter through Francis Nwaze, his spokesman, Umahi, former Governor of Ebonyi State and a key figure in the government of President Bola Tinubu, said caution was needed to enable the police conduct unfettered investigation into the matter.
It was his response to breaking of how one Mary Habila, a female physiotherapist reportedly died in his palatial home at Uburu, Ohaozara Local Government Area of Ebonyi State, on June 27, hours after arriving the day before.
Nwaze, a Senior Special Assistant on Media and Publicity, specifically cautioned against speculations by “tale bearers,” while conveying the Minister’s shock over the matter and his eagerness for the authorities to get at the root of the matter through forensic investigations.
He wrote in the statement: “The attention of the Media Office of the Honourable Minister of Works, Senator Engr. David Nweze Umahi, has been drawn to a publication by a publication concerning the unfortunate passing of Miss Mary Habila in Uburu, Ebonyi State, alleging that the circumstances surrounding her death were shrouded in secrecy.
“The Honourable Minister received the news with profound shock and sadness and has since extended his heartfelt condolences to the bereaved family. For the avoidance of doubt, immediately the unfortunate incident occurred, appropriate emergency steps were taken. Medical personnel, including the Chief Medical Director of the David Umahi Federal University of Health Sciences, Uburu, were contacted without delay, while the Nigeria Police was promptly notified in accordance with the law.
“Following confirmation of Miss Habila’s passing, the Honourable Minister personally received her parents, conveyed his sincere condolences, and advised that an autopsy be conducted to scientifically establish the exact cause of death. At the time, however, the family declined the recommendation.
“It is important to clarify that Miss Mary Habila and Miss Anita Baski are employees of the David Umahi Federal University of Health Sciences, Uburu, who had been on secondment to the Federal Ministry of Works as physiotherapists for the past three years until the unfortunate passing of Miss Habila.
“Following the recent developments and in the interest of ensuring that the truth is established beyond doubt, the Honourable Minister has again reiterated his position that an autopsy must be conducted. He remains convinced that this is the most credible and responsible path to resolving all questions surrounding the unfortunate incident.
“We therefore urge the public to exercise restraint, refrain from speculation or premature conclusions, and allow the relevant authorities to carry out their responsibilities without interference. At this difficult time, our thoughts and prayers remain with the family of the deceased, and we pray that God grants them the strength to bear this irreparable loss.”
The circumstances that led to the sudden death of Mary Habbila, a Nigerian female student died in the Uburu, Ohaozara Local Government Area of Ebonyi State, home of Dave Umahi, Minister of Works, has now thrown the entire household and environs into serious quandary.
SaharaReporters, which first broke the revealed that the incident, which happened since June 27 this year, has been shrouded in secrecy, with both the Ebonyi State Government and the state police command maintaining silence over the matter.
The incident, the report, added, took place barely a day after Habbila and another woman, Anita Baski, both from Kaduna State, were reportedly brought to the minister’s residence, triggering a police investigation, with the case transferred from the Ohaozara Divisional Police Headquarters to the Ebonyi State Criminal Investigation Department (SCID) in Abakaliki.
Habbila and Baski reportedly arrived at the minister’s residence on June 26 to “attend” to him, only for Habbila to be found dead inside the residence the following morning under circumstances investigators are still trying to establish.
Police sources were quoted by the paper as saying that Jonathan Bawado, a police officer who serves as Senator Umahi’s Personal Assistant and previously worked as his Aide-de-Camp (ADC) during his tenure as Governor of Ebonyi State, alerted medical personnel after Habbila was discovered unresponsive.
Subsequently, a doctor and an ambulance were dispatched to the residence, while Tobechukwu Godwin, Chief Superintendent of Police (CSP) Divisional Police Officer (DPO) of Ohaozara Police Division, was notified of the incident, the report said, adding that at the hospital Chihurumnanya Alo, a Professor and Consultant Public Health Physician, Infectious Diseases Specialist and Chief Medical Director of the David Umahi Federal University Teaching Hospital (DUFUTH), Uburu, was also alerted about the incident.
The police who subsequently conveyed Habbila’s body to a mortuary, were said to have handed over the identification tag attached to Habbila’s to the Ebonyi State Police Command by the said DPO, as part of the ongoing investigation.
SaharaReporters, quoted a senior police officer, with knowledge of the case as saying: “The case has been transferred to the State Criminal Investigation Department in Abakaliki,” but, however declined to provide further details, citing the ongoing investigation.
Unlike in other cases, security operatives in Nigeria have upped the ante by adding the arrest of perpetrators to the menu of rescue operations, with the announcement of the capture of eight terrorists who participated in the abduction of school teachers and students in Oyo State on May 15.
All the 46 pupils, students and teachers abducted by terrorists from three schools in Oriire Local Government Area of Oyo State, regained their freedom on Friday, after about 56 days in captivity, with several others reportedly also neutralised during the operation.
Giving a clue of what transpired during the operation, Bayo Onanuga, who broke the story of the feat, said it was the outcome of sustained security operations, which also foiled the attempt by the abductors to secure the release of one of their captured leaders.
Onanuga, Special Adviser to the President on Information and Strategy, using his X handle to give details about the operation, said: “Finally, all the kidnapped pupils and teachers in Orire, Oyo have been rescued by our security agencies. In the course of the rescue operation, eight of the kidnappers were arrested and are now in DSS custody, while some of them were neutralised.”
“There was no quid pro quo in the rescue as one of the terrorists, a kingpin, that the kidnappers demanded his release, is being prosecuted for his atrocities. The security agencies will give full account soon.”
The victims were abducted on May 15 when heavily armed bandits attacked Community Grammar School, Baptist Nursery and Primary School, and L.A. Primary School in the Esiele and Yawota communities of Oriire Local Government Area, seizing dozens of pupils, students and teachers.
The abduction sparked nationwide outrage, with parents, labour unions, traditional rulers and civil society groups mounting sustained pressure on the authorities to secure the victims’ release.
The incident also triggered an indefinite strike by the Nigeria Union of Teachers in Oyo State over growing insecurity in schools.
President Bola Tinubu had condemned the attack and ordered security agencies to intensify intelligence-led operations to rescue the captives and bring the perpetrators to justice.
The President subsequently dispatched a high-powered Federal Government delegation to the affected communities, approved the deployment of specialised rescue assets and authorised the recruitment of 1,000 forest guards to strengthen security across Oyo State.
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