Management of Dangote Industries Limited (DIL), has revealed that the company has so far repatriated over USD576,008,672.41 through various banks in Nigeria, in addition to a USD$111,968,109.38 cash swap arrangement between Dangote Cement Plc and Ethiopian Airlines; thus saving the same amount that would have been paid by the Central Bank of Nigeria (CBN).
The company revealed this in a statement released to the media, where it accused BUA Group of sponsoring fake and misleading news about its foreign exchange transactions, approved by the CBN, which were meant for its pan-African operations.
Dangote re-affirmed its determination and belief in Nigeria, noting that the present Government, of President Bola Ahmed Tinubu, has shown the will and resolve to get the economy moving again.
Insisting that all forex purchased in respect of its African Project Expansion were genuine and fully utilised for what they were meant for, Dangote revealed that the projects for which the forex was utilised are visible for everyone to see.
Dangote further explained that its massive investments in Pan Africa will lead to the repatriation of forex in the very near future and boost foreign exchange earnings in Nigeria, as well as stabilise the forex Market.