Dangote lose N240 billion in 5 hours due to coronavirus [FULL GIST]
The richest man in Africa Aliko Dangote has reportedly lost 240 billion naira in just few hours due to Coronavirus.
The Nigerian business man who owns Dangote group suffered this on Wednesday 11, March 2020.
Dangote Cement Plc which is accounted for more than 20 per cent of the total market capitalization, led the decline with the maximum daily allowable drop of 10 percent or N17.
This is equivalent to net depreciation of N289.68 billion.
Dangote Sugar Refinery Plc and NASCON Allied Industries Plc lost N1.8 billion and N3.05 billion respectively.
Dangote Cement’s share price dropped by N17 from N170 to close at N153.
NASCON Allied Industries declined by N1.15 to close at N3.05 while Dangote Sugar Refinery lost 15 kobo to close at N9.75 per share.