* Court overturns ruling preventing Dangote taking up post
* Billionaire cement tycoon starts on Tuesday
LAGOS, June 19 Nigerian billionaire Aliko
Dangote will assume leadership of the governing board of
Nigeria's stock exchange on Tuesday, after an appeal court
overturned the annulment of his 2009 election.
"We are a law abiding organisation and since the court has
reinstated him (Dangote), we will surely abide by that,"
Nigerian Stock Exchange (NSE) spokesman Dante Martins said by
Martins said there would be a meeting of the board on
Tuesday and Dangote will be there as its president.
Dangote, Africa's richest man currently with an $11 billion
fortune and a cement empire stretching from Senegal to Ethiopia,
was elected to head the bourse's board in August 2009.
But just before his tenure was to begin in March 2010,
shareholders of a fuel importer Forte Oil Plc obtained a
High court ruling preventing him from taking it up.
They had accused the billionaire of manipulating Forte Oil's
share price on a day in which it fell the maximum 5 percent
allowed. The stock exchange regulator had previously cleared
Dangote of any involvement in manipulation, but the court upheld
the case against his election nonetheless.
Dangote owns three companies listed on the bourse -- Dangote
Cement, which makes up a quarter of the exchange's
market capitalisation, Dangote Flour and Dangote
He was previously vice-president of its board.
(Reporting by Oludare Mayowa; Editing by Tim Cocks and Jon