Dangote Group Denies Rift with Tony Elumelu, Threatens Legal Action Over False Claims

The Dangote Group has dismissed as false and malicious claims of a rift between its founder, Aliko Dangote, and United Bank for Africa (UBA) Chairman Tony Elumelu, describing the reports as entirely baseless and a deliberate attempt to sow discord within Nigeria’s business community.

In a statement issued on May 2, 2026, the Group Chief Branding and Communications Officer of Dangote Group, Anthony Chiejina, categorically refuted a viral social media publication titled “Aliko Dangote Speaks Out on Why He Distanced Himself from Tony Elumelu.” Anthony Chiejina said neither Dangote nor the Group made such statements or expressed such sentiments, stressing that the publication was fabricated, malicious, and baseless. He further clarified that Aliko Dangote and Tony Elumelu maintain a longstanding and cordial relationship, adding that any suggestion of estrangement between them is equally false.

The company also rejected assertions that the development of the Dangote Petroleum Refinery and Petrochemicals was financed through personal borrowing from friends. Anthony Chiejina stated, “As a matter of principle, Aliko Dangote neither finances his projects through personal borrowing from friends nor engages in lending arrangements of that nature. Any individual making such claims should provide verifiable evidence to substantiate them.” The viral post had alleged that during the construction of the refinery in 2021, Dangote ran out of funds and approached several business associates, including Elumelu, Femi Otedola, Abdulsamad Rabiu, and Mike Adenuga. The post claimed that Elumelu promised $20 million in assistance but later cut off communication, while other associates raised $500 million for the project with Otedola contributing $300 million.

Dangote Group further warned about 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. Anthony Chiejina noted that these actions amount to reputational harm and potential fraud. He added, “All individuals, organisations, and platforms involved in the creation, publication, or dissemination of such false content are hereby put on notice to desist immediately. The Group will take appropriate steps, including legal action where necessary, to protect its reputation and that of its leadership.”

Billionaire businessman Femi Otedola has also weighed in on the controversy, dismissing the claims that he funded the Dangote refinery. In a post shared on X on May 3, 2026, Otedola said reports claiming he financed the Dangote Petroleum Refinery are completely and utterly false, adding that he has not invested a single kobo in the project. Otedola clarified that rather than funding the refinery, he had only requested a special allocation to participate in its planned public offer. He stated, “I can categorically state that at no point did Alhaji Dangote request financing from Mr Elumelu, Mr Adenuga, and myself. This is calculated mischief and a deliberate attempt to create rifts and sow discord within Nigeria’s closely knit and respected private sector leadership.” Otedola added that the Dangote Group is a well-structured organisation well versed in raising structured capital for its operations.

The development comes amid growing concerns over the spread of misinformation on social media. The United Bank for Africa has separately confirmed that three individuals allegedly linked to the creation and dissemination of a false divorce claim against Elumelu have been arrested, with investigations ongoing. Dangote Group reaffirmed its commitment to upholding the highest standards of integrity while continuing to drive industrialisation, economic self-sufficiency, and sustainable development across Africa.