How CBN new forex policy made Dangote $3.7 billion poorer

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The decision by the Central Bank of Nigeria (CBN) to float the naira has wiped $3.7 billion off the wealth of Africa’s richest man, Aliko Dangote according to estimates by Bloomberg. This is based on the significant drop in the dollar equivalent market value of Dangote Cement in which Aliko Dangote owns approximately 90% shares.

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