In a dramatic turn of events, Aliko Dangote, Africa’s wealthiest business magnate, took to the pages of local newspapers to make startling allegations against his prominent Nigerian counterpart, Abdul Samad Rabiu.
Dangote’s explosive seven-page advertisement accused Rabiu of orchestrating an elaborate scheme to embroil Dangote Industries Ltd. in a Central Bank of Nigeria probe under the auspices of President Bola Tinubu’s government, despite the fact that Dangote’s companies are currently not under any investigation.
Hours later, Rabiu fired back with a swift response on social media, levying a litany of accusations against his long-standing rival. These allegations, according to Rabiu, span back to the early 1990s and include claims of Dangote’s involvement in various business improprieties. One striking accusation was Dangote allegedly providing Rabiu with a dud check on one occasion.
This public feud between Nigerian billionaires is not an isolated incident. Earlier this year, a similar clash occurred between Femi Otedola and Tony Elumelu, with both entrepreneurs embroiled in a dispute over the ownership of Transcorp Plc, a significant Nigerian conglomerate.
The ongoing public spat between Dangote and Rabiu highlights the complex dynamics and fierce competition within Nigeria’s business elite, as these high-profile individuals engage in very public and intense rivalries, shedding light on the sometimes tumultuous world of Nigerian billionaire entrepreneurs.