The Dangote Group has dismissed reports suggesting a disagreement between its founder, Aliko Dangote, and the chairman of United Bank for Africa, Tony Elumelu, describing the claims as false and misleading.
The rebuttal followed a viral post on X alleging that Dangote had made comments about running out of funds during the construction of the Dangote Refinery and seeking financial help from several business associates.
The post also claimed that Tony Elumelu initially promised financial support but later cut off communication, while other businessmen allegedly contributed funds to the project.
In a statement issued on Saturday by Anthony Chiejina, Group Chief Branding and Communications Officer, the company strongly denied the allegations.
“The post titled ‘Aliko Dangote Speaks Out on Why He Distanced Himself from Tony Elumelu,’ is false, malicious, and baseless,” the statement read.
“At no time did the president or the group make such statements or express such sentiments,” it added.
The company further clarified that Dangote does not rely on personal borrowing from friends to finance major projects.
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“The group categorically rejects claims that the development of the Dangote Petroleum Refinery & Petrochemicals was financed through personal borrowing from friends,” it said.
“These assertions are wholly inaccurate and constitute a deliberate misrepresentation of facts.”
Dangote Group also challenged those behind the claims to provide proof.
“Any individual making such lending arrangement claims should provide verifiable evidence to substantiate them,” it stated.
The company also dismissed suggestions of any rift between Dangote and Elumelu, stressing that both men share a cordial relationship.
“Equally false are suggestions of any estrangement between Aliko Dangote and Mr Tony Elumelu, with whom he maintains a longstanding and cordial relationship,” it said.
The statement expressed concern over the increasing spread of fabricated content using Dangote’s identity, including AI-generated materials.
“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 advertisements and other misleading content. These actions amount to reputational harm and potential fraud,” it added.
The company warned that it would take legal action where necessary to protect its reputation and leadership.
“All individuals, organisations, and platforms involved in the creation, publication, or dissemination of such false content are hereby put on notice to desist immediately,” it warned.
Dangote Group reaffirmed its commitment to integrity and its continued drive toward industrialisation and economic development across Africa.