Africa’s richest businessman, Aliko Dangote, has fired back at viral claims about his refinery funding and alleged fallout with Tony Elumelu — calling them false, malicious, and misleading.

CBI News reports that the Dangote Group has strongly denied reports suggesting that its President, Aliko Dangote, distanced himself from Tony Elumelu or relied on personal borrowing from friends to finance the Dangote Petroleum Refinery.

In an official statement signed by the Group’s Chief Branding and Communications Officer, Anthony Chiejina, the company described the publication as “false, malicious, and baseless,” stressing that neither Dangote nor the Group made the claims attributed to them.

The Group categorically rejected assertions that the multi-billion-dollar refinery project was funded through personal loans from friends, stating that such claims are a deliberate misrepresentation of facts.

“As a matter of principle, Aliko Dangote neither finances his projects through personal borrowing from friends nor engages in such arrangements,” the statement said.

It also dismissed reports of any rift between Dangote and Elumelu, emphasizing that both business leaders maintain a longstanding and cordial relationship.

The company further raised concerns over a growing trend of fabricated statements and the unauthorized use of Dangote’s identity in AI-generated content and misleading advertisements, warning that such actions could amount to reputational damage and fraud.

Dangote Group warned that individuals and platforms responsible for spreading false information have been put on notice and may face legal action if the misinformation continues.

Reaffirming its commitment to integrity, the Group stated that it remains focused on driving industrialisation, economic self-sufficiency, and sustainable development across Africa.

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