According to Forbes’ report, Dangote, Tony Elumelu and Jim Ovia would have lost a lot of money as a result of the devaluation of the Naira. The Forbes report by Mfonobong Nsehe viz:
A few weeks ago, the Governor of the Central Bank of Nigeria, Godwin Emefiele, announced a nearly 10% devaluation of the Naira, Nigeria’s currency, after admitting that a plunge in world oil prices and dwindling dollar reserves were making it difficult to defend the value of the currency. The Naira is now trading at N187 to $1, compared to N165 in November. In dollar terms, the devaluation has knocked more than $40 billion off the value of Nigeria’s economy.
Dangote is the biggest loser among Nigeria’s richest people as the Naira’s slump, coupled with falling stock prices, has erased more than $7.8b of his fortune since Feb, when Forbes locked in the values for its annual ranking of the World’s Billionaires.