Browsing: Dangote office raid

• The raid conducted by Nigeria’s anti-graft commission on Dangote’s office on January 4 is sending chills across the boardrooms of businesses in the country.
• Manufacturers in Nigeria express concern that if such an event can happen to Dangote, Africa’s richest man, then it could happen to any one of them.
• The raid is believed to be part of an extensive probe into Dangote, a former Central Bank governor, and the foreign exchange transactions that he oversaw.

A raid conducted by anti-graft agents on the offices of Aliko Dangote on January 4 is sending chills across the boardrooms of businesses and investors in Nigeria, even though sector players were anticipating it.

Dangote, arguably the richest person in Africa by far, owns an empire that controls the Nigerian corporate world and is the former head of Nigeria’s Central Bank.

In May 2023, Dangote completed a massive oil refinery with considerable fanfare, just …