According to Dangote, repatriated funds amounting to $688million came from our Africa operations.

On Sunday, Dangote Industries Limited (DIL) announced that it had repatriated more than $687.98m, including $576m via Nigerian banks and $111.97m via a cash swap deal with Ethiopian Airlines.

In a statement, DIL said that it was confident in Nigeria’s economic future under President Tinubu, and that its investments were genuine and authentic.

The company also urged all relevant agencies to review its foreign exchange transactions over the past decade and make public any irregularities that were noticed or discovered.

The company stresses that all foreign currency used for its Africa Project Expansion was real and used as planned, and the projects were visible for everyone to see.

According to Dangote, some of the projects were commissioned by Nigeria’s top government officials, with chief executives of banks, captains of industry, and presidents of host countries in attendance, supported by senior government officials.

The commissioning events for these projects were well-documented and widely reported in local and international media, including print and electronic versions of the official commissioning ceremonies.

Dangote also said that he expects the naira to appreciate in value again, especially as his African investments start to bring forex back into the country.

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