Business mogul Aliko Dangote has been displaced as African richest man after his net worth dropped by 20.7 per cent amid the naira devaluation implemented by the Central Bank of Nigeria (CBN).
In a latest Forbes Billionaire Ranking, Dangote now ranks the second on the continent after South African billionaire, Johann Rupert dislodged him to number one on the list.
CBN had devalued the naira, causing the value to drop by 40.5 per cent.
Dangote’s wealth dropped by $2.80 billion to $10.7 billion, from $13.5 billion, costing him the richest man position for the first time since 2008, when he debuted on the Forbes Billionaire Index.
Rupert became the richest man in Africa after his net worth increased by $1.3 billion from $10.7 billion to $13.5 billion.
Follow us now for more news in Oyo State.
Oyo Truth is an independent online news /medium reporting up-to-date events, happenings and activities related to Oyo State, Nigeria.
Leave a Reply