According to Dangote Industries Limited, more than $687.98 million has been repatriated so far through different Nigerian banks.
The business said in a statement on Sunday that it received $576,008,672.41 from different Nigerian banks in addition to a cash swap agreement between Ethiopian Airlines and Dangote Cement Plc worth $111,968,109.38.
Dangote reiterated its commitment to and faith in Nigeria, pointing out that President Bola Ahmed Tinubu‘s administration has demonstrated the will and desire to restart the country’s economy.
“We are not body-shop investors. We believe in Nigeria, and we believe in Africa. We are genuine and authentic about our investments, and we call on all relevant agencies to investigate our FX transactions in the past 10 years and make public any infraction noticed or discovered.”
The corporation stated that the projects for which the foreign exchange was used were open to the public and that all of the foreign exchange acquired in connection with its African Project Expansion were authentic and completely employed for their intended purposes.
“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 commissioning events of these projects were well documented and covered by both local and international media. There are also print and electronic copies of the commissioning ceremonies as further testimony to the judicious utilisation of the funds.”
Dangote went on to say that his company’s significant investments in Africa would stabilise the forex market, increase foreign exchange revenues in Nigeria, and result in the repatriation of foreign exchange in the near future.
PUNCHNG
