CEO of Vintage Media, Chukwudi Iwuchukwu, Accuses Federal Government of Vendetta in EFCC Raid on Dangote Group

Chukwudi Iwuchukwu, CEO of Vintage Media, expressed his dismay over the Economic and Financial Crimes Commission (EFCC) raid on Aliko Dangote’s Ikoyi corporate office, cutting short his social media break.

Iwuchukwu claimed that the EFCC’s actions were driven by political vendetta due to Dangote’s support for Atiku Abubakar, asserting that such harassment based on political choices is unjustifiable.

Highlighting Dangote’s significant economic contributions, Iwuchukwu emphasized his role as the largest employer in Nigeria, employing over 30,000 people, with potential growth through the upcoming refinery project.

Iwuchukwu underscored Dangote’s substantial investment of over $10 billion in his refinery project, opting for in-house construction despite challenges. He argued that Dangote deserves respect and protection for his bold economic endeavours.

Iwuchukwu acknowledged that personal opinions about Dangote may vary but emphasized that his success serves as a barometer for how the international business community perceives Nigeria, encouraging foreign investments.

Pointing to the seven-day decline in Nigeria’s dollar bonds and concerns from manufacturers, Iwuchukwu warned about the potential impact on the country’s reputation, credit rating, and foreign investments.

Iwuchukwu highlighted the precarious state of Nigeria’s currency, predicting a rise to 1,500 naira to one dollar. He expressed concern over the lack of available dollars and the absence of lenders, especially as the country needs $10 billion to stabilize the forex market.

Chukwudi Iwuchukwu concluded by expressing skepticism about the ongoing situation, labelling it as “madness” and wishing luck to those involved in the unfolding events.

Iwuchukwu disclosed this in his social media handle on Friday morning.

Reacting to Iwuchukwu’s outburst, some Nigerians commented in support of the young CEO’s view while others commented in disagreement.

Some of the comments reads”

Felix Tunde commented “Dangote has been surviving on political patronage.
If he miscalculated this time, who is to blame?
Rumor has it that he got dollar below the fixed exchange rate. Is that not economic sabotage?
How did vaswani brothers got booted out of Nigeria?
Is is not because of politics and Dangote using his links?
What happens to Ibeto cement after having his cement coming to Nigeria and overnight change of cement policy cripple him.
Who was fingered to use his connection within government to frustrate competition?
Yes Dangote has contributed to Nigeria economy by building infrastructures but what was his contribution in using government to frustrate his competition?
I bet you if Dangote we’re to be doing business in US and UK, I don’t think he would have survived anti-trust law ( law against monopoly).
So if Dangote sleep in ant infested room and he knew it was an ant-infested room, why should I pity him when he is being bitten by the ants?
Your piece is just a PR stunt and image laundering for Dangote”

Chibuike O Victor commented “It’s unfortunate that is what you see when you have a clueless set of people in Government, they think through their anus”

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