[citation needed], Dantata applied for a licence to purchase and export groundnuts in 1940, on the same level as the United Africa Company. . It is a clear indication that, despite the challenges posed by the global pandemic, Nigerian businessmen and captains of industries are determined to continue investing in and developing the countrys economy. PAIA Manual | For the optimum Mansion Global experience, please turn off any ad blockers and refresh this page. However, in recent years the founder of MRS Holdings has been spick and spank. The groups operations span several West African countries, including the Benin, Togo, Cameroon, and Cote dIvoire. She left the children in Bebeji, in the care of an old slave woman named Tata. As in the rest of the country, real estate prices on Banana Island are based on the value of the land, which according to Roberta Nouboue, managing director of Madingwa Real Estate, is NGN400,000 (US$1,101 per square meter). He holds aBachelors degree in Economics from the ParisAcademy and has been with the MRS Groupsince 2004. No doubt the addition of Bestaf Lubricant Plant to the pool of already existing plants and brands is a big boost to the nations economy, and the man behind it all, Sayyu Danatata, certainly has his eyes set on the mega bucks. Sayyu Dantata is the son of Alhassan Dantata who was the wealthiest man in Africa at the time he passed away in 1955. After a rest of only one day, she took him to a mallam and asked Dantata to stay there until he was ready to return to Bebeji. Because we do, we have not once in nearly 40 years of operation been charged with criminal wrongdoing. These materials are essential to the companys operations and have resulted in higher unabsorbed costs. Additionally, the company is developing a pricing strategy with alternative product offerings. Alhaji Dantata started his career as Director of the Engineering and Transport Division of Dangote . Dangote and Dantata bought equal shares of 12,500 each from Petrowest S.A. MRS Oil and Gas Co. Ltd also bought 25,000 numbers of shares from Petrowest, just as was done with OVLAS S.A. Again, three years after they existed as shareholders, the trio Dangote, Dantata and M.R.S Oil and Gas Company Limited ceased to be shareholders in the company. [8], In 1955, Dantata fell ill. Because of the seriousness of his illness, he summoned his chief financial controller, Garba Maisikeli and his children. Mossack Fonseca, the company behind the registration of the shell companies, said it does not direct the companies it incorporates for its clients and therefore cannot be held liable for the uses to which the firms are put. 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He is the Founder and CEO of MRS Holdings Ltd (Formerly, MRS Group). The virus swept through Chinas major financial centers and hubs, such as Shanghai, leading to lockdowns that impacted millions of people. She obtained a B.Sc in Business Administration from the AhmaduBello University, Zaria, Nigeria in 1998. When the British disposed the successor of Yusufu in 1903, they appointed Abbas as the Emir of Kano. In addition to Nigerias wealthiest people, Banana Island draws a variety of ex-pats from the United States, Britain, Lebanon, India and France. I've been playing her and it will be my second winter with her. There are three mixed-use high-risesthe Adunola, the oldest, and Lakepoint Towers and Desiderata, which were built in the last two years. ", More:Fiesole, Italy, Offers a Village Feel Just Outside Florence. She is a lawyer by training and had cut her teeth in the legal profession by working at the famous FRA Williams chamber before going on to work with Senator Gbemi Saraki as her legislative assistant. "It offers security, tranquility and privacy. founder and chairman of MRS Holdings Company Limited, nine-month period ending December 31, 2022. He implored them to continue to marry within the family as much as possible. Established in 1985 by the late Egyptian auto mogul Raouf Ghabbour, GB Auto has grown under his guidance to become one of the leading automobile distributors and assemblers in the Middle East and North Africa. Nigerian businessman Sayyu Dantata, the stepbrother of billionaire Aliko Dangote, has launched a $450-million lubricant plant in Lagos through Bestaf Lubricant Limited. She was accused of organising a diversion of $6 billion (N1.2 trillion) from the Nigerian treasury and was arrested in London in 2015. He began his career as Director of the Engineering and Transport Division of Dangote Group, considered the Largest Nigerian conglomerate. Sayyu Dantata, chairman MRS Oil chairman, has tendered his resignation as chairman of the company. The acquisition may face hurdles as Johann Rupert, the South African billionaire who leads Richemont, has shown resistance to potential takeovers. As was the tradition, the bulk of his earnings went to his mallam. His company, Globacom has over 27 million subscribers, which makes it the second largest telecom company in Nigeria. He urged them to avoid clashes with other wealthy Kano merchants. Their company, MRS Oil and Gas, was re-issued 500,000 shares. The 2.6 TB files, involving 214,488 entities, also reveal details about how former gun-runners, contractors and other members of the spy world use offshore companies for personal and private gain. View profiles of the MRS board and our executive management team. They include Ola Rosiji, a shareholder of Excalibur Holdings Services Incorporation; and Alex-Duduyemi Oyekunle, a traditional chief known as the Aro of Ife Kingdom. His presence as a resident of Banana Island doesnt come as a surprise. More:Glasgows Pollokshields Has Mansions, Green Spaces and an Artsy Vibe, "There are more apartments and terrace houses than detached single-family homes because land is so scarce and land prices are so high," Ms. Nouboue said. We only incorporate companies, which just about everyone acknowledges is important, and something thats critical in ensuring the global economy functions efficiently. The plant, located at the Bestaf Facility, was inaugurated by Nigerian President Muhammadu Buhari on Monday evening in the presence of Lagos State Governor Babajide Sanwo-Olu and other dignitaries. He pointed to recent reports by the National Bureau of Statistics that indicated that the non-oil sector, which includes construction and real estate, grew by 2.05%, and that the Nigerian recession ended in the fourth quarter of 2017. He was a director of the Nigeria branch of Shell B.P. "Banana Island is all about location," she said. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. In 1929, when the Bank of British West Africa opened a branch in Kano, Dantata placed 20 camel-loads of silver coins in it. As a result, LVMHs pursuit of Cartier may not yield the expected outcome. [citation needed], Dantata was still a teenager when the great upheavals occurred in the Kano Emirate from 1893 to 1895. Leave Application [1][2] He is the great-grandfather of Aliko Dangote, the wealthiest person in Nigeria and Africa. The groups sales have surpassed 15 billion ($16.3 billion), up from 12.77 billion ($13.9 billion) during the same period last year, showcasing substantial growth. Over the past few years, her net worth has been a subject of heated debate. Sayyu Dantata, billionaire cousin of Africa's Richest person Aliko Dangote, has launched a $450 million lubricant plant in Lagos through Bestaf Lubricant Limited. Dangote ceased to be shareholder permanently on July 6 2009, and Dantatas number of shares doubled to 500,000 shares while MRS Oil and Gas CO, LTD retained its 500,000 shares. Re: Billionaire Sayyu Dantata Launches $450m Lubricant Plant In Lagos by KingKO22: 9:20am On Jan 25 Asiwaju Tinubu has created the enabling environment for all business to thrive and become successful The Nyamirin Zombipigs have created death nd chaotic environment in Alaigbo Land therefore making it a dead trap for investors. [CDATA[ Aliko Dangote's brother, Sayyu Dantata's MRS Oil head office shut down by Government over Tax Evasion. Africas richest man, Aliko Dangote, and his brother Sayyu Dantata have been linked to shell companies in tax havens, writes Joshua Olufemi and Emmanuel Mayah. "A big set of people are tenants in the high-rises," Ms. Nouboue said. The unprecedented year-long investigation involving 11.5 million secret documents which stretch from 1977 to December 2015 expose the hidden underground of the world economy, a network of banks, law firms and other middlemen that utilize shell companies, sometimes using them to hide illegal wealth. And nearly every house has a gym, she added. [citation needed], Dantata made a pilgrimage (hajj) to Mecca via boat in the 1920s. Thats the price for each of the twin townhouses on 600 square meters of land. The contact numbers listed on MRS Holdings website failed to connect the several times our reporter called. newsheadline247-February 9, 2023. The company views the launch of the plant as a step in facilitating the growth of the Nigerian economy and as a positive indication of the potential for more such investments in the future. It is meant only as an approximation based on the latest information available and should not be relied upon for any other purposes. Yusufu received his religious training from Qaadiriyya schools. Yet that question has become even more relevant across the globe following discoveries of several secret shell companies linked to the businessman, his allies and relatives. Although Banana Islands main street offers little more than a caf, a barbershop and a large supermarket, chic shopping areas and restaurants on Victoria Island are only a 12-minute car ride away. One current listing, she said, is for NGN750 million. At some point he returned to Bebeji to his religious studies and work. It is a similar story in Seychelles, an archipelago of 115 islands in the Indian Ocean off East Africa, where Afrex S.A and Bulldog Global Financial Services LLP act as client for Dangote and Dantatas companies. Apartment buildings, Mr. Onyenze said, come fully stocked with amenities that include fitted kitchens, walk-in-wardrobes, intercom systems, security surveillance systems and standby generators. Dantata is the founder and chairman of MRS Holdings Company Limited, one of Nigeria's largest marketers of refined petroleum products like gasoline, marine fuels, and aviation fuels. Tukur received his religious training from a Tijaniyya scholar and received the support of the Agalawa. Beauty and seclusion set Banana Island apart. They serve cocktails, and theres a pool.". The investigation unveiled the cloak of secrecy provided by Mossack Fonseca, a Panamanian law firm that specializes in creating offshore companies, some of which have been used by con men and women to hide Ponzi schemes, predatory lending scams, and other financial frauds from their victims and from the authorities. Every time I see horses I just want to go and spend time with them. An American-educated mechanical engineer, Dantata returned home to his native Nigeria to begin the energy . That was also dated April 12 2006. He had the good sense to employ Alhaji Babba Na Alhassan who served as his chief accountant and Alhaji Garba Maisikeli as his financial controller for 38 years. The horses make you love them. Like in the case of Ovlas S.A, Mr. Dangote suddenly ceased to be shareholder. This drop was driven by an increase in raw material costs as well as a surge in both production costs and operating expenses. "I have been riding horses since I was a kid but this is the first year I have been playing polo and I'm starting here," Dantata said. So, according to published reports, does Iyabo Obasanjo, daughter of the former president Olusegun Obasanjo; Sayyu Dantata, son of Alhassan Dantata, who, when he died in 1955 was one of the wealthiest men in West Africa; Kola Abiola, the son of the businessman/politician MKO Abiola; identical twins Peter and Paul Okoye, aka P-Square, the Nigerian R&B duo; and Nigerian mega-blogger Linda Ikeji. They are frequently used to shield the identities of owners and/or to hide money. It's definitely different playing mixed polo but I love it.". The Polo School operates in Wellington January through May and September through November. Because shell companies are at times associated with fraud, their activities are of big concerns to international bodies such as the Organisation for Economic Co-operation and Development (OECD). Mr. Onyenzeconceded that prices have dropped about 30% in the lastthree-and-a-half years because of a combination of factors, including the devaluation of the naira, decreased prices for crude oil, inflation, high interest rates, job cuts and divestment by multinational organizations from the Nigerian economy. Grand Champions Polo Club13444 South Fields RoadWellington, FL 33414. According to Swiss newspaper Finanz und Wirtschaft, insiders have suggested that LVMH is actively seeking to expand its jewelry segment by acquiring Cartier, a luxury jewelry brand owned by Richemont. Africa's Business Space At Your Finger Tips! The remarkable surge in profit by triple digits can be directly attributed to two key factors: the sale of GB Lease, the groups leasing business, and its 7.5-percent stake in MNT-Halan, a prominent fintech firm led by Egyptian entrepreneur Mounir Nakhla. Mr. Alhaji Sayyu Idris Dantata is the Founder and Chief Executive Officer of MRS Holdings Ltd (Formerly, MRS Group). Dantata, who is Dangote's stepbrother, is the founder and chairman of MRS Holdings Company Limited. with legendary father/son duo of Adolfo Cambiaso and his 14-year-old son Poroto, ready . However, it was not granted because of worldwide military and economic conditions. Dantata, who is one of Dangote's cousins, is the founder and chairman of MRS Holdings Company Limited. 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Among those accounts were that of Dangote, who became an HSBC private account client in July 2003. That investigation, published in February last year showed how HSBC profited doing business with people who stole from their countries and some of the worlds most notorious con artists, including people who made a fortune fuelling wars in Africa. In 2015, her net worth was estimated to be between N1.5 billion and N2 billion. Basically, the [] He might have hoped his wealthy mother would allow him to live with her and find him work among the Gold Coast Agalawa community. Mr. Sayyu I. Dantata is the Founder and Chief Executive Officer of MRS Holdings Ltd (Formerly, MRS Group). On his part, Alhaji Sayyu Dantata, founding Chairman of MRS Group who has preordered 500 copies of the book wants as many aspiring leaders as possible to read the story of the transformation of . He is a seasoned Mechanical Engineer by training at the Morris Brown College Atlanta- Georgia, USA and owns a property on the prestigious Banana Island. With Mashomack leading 9-8 early in the sixth chukker, Dantata Jr. scored the tying goal with 3:23 left in the game. The club also hosted a full schedule of successful and highly-competitive medium goal tournaments.Grand Champions and Santa Rita Polo Farm is the largest and most unique polo facility, nestled in the heart of the world's winter equestrian capital Wellington. It was a super fun team. He did not own a house there, but was satisfied with the accommodation given to him by his patoma (landlord). Terms of Use, ANCIR is being incubated by Code for Africa. A few other other allies of Dangote and Dantata were also flagged as shareholders in the shell companies used for their Panama deals. Nigerian businessman Sayyu Dantata, a cousin of billionaire Aliko Dangote, has launched a $450-million lubricant plant in Lagos through Bestaf Lubricant Limited. More:Marshan Offers the Very Best of Tangiers Enduring Allure. Although Banana Island School, which enrolls boys and girls who are 1 to 5 years old, and Olive Dale Preparatory School, which is a nursery-through-primary school, are the only ones on the island, there are a variety of top-notch schools in Ikoyi. Arellano then connected on a nice pass with Dantata to give SD Farms its first lead (10-9) since the fourth chukker.Dantata scored an insurance run off a breakaway to make it 11-9 with 2:01 left. "Its elegant, and they invite the biggest DJs in the world. Documents show that Sayyu Dantata owns 250,000, 125,000 and 50,000 share units in PetroWest S.A., Paseo Trading Limited, and Arkinton International Limited respectively. Read the full response from Mossack Fonseca, African Network of African Reporting Centres. Tumblr. "Dantata Jr. is the oldest son of Sayyu Dantata, patron of SD Farms and winner of last year's Palm Beach Open in the inaugural season of the 26-goal World Polo League. ", COPYRIGHT 2023 MANSION GLOBAL. Tinubu owns a growing list of properties in Lagos (over 22) and Abuja including his property on Banana Island. Sayyu Dantata is the billionaire cousin of Alhaji Aliko Dangote, Africas richest man and Chairman of the Dangote Group. XE Currency Converter and founder of Sanusi Dantata and sons limited. "Arellano got the opportunity to play with her brother Lucas, 20, who subbed for Dantata Sr. "It was so much fun today," Arellano said. It is home to Arthouse Contemporary, a local auction house; the Wheatbaker hotel, which holds art exhibits and art-related events; and the Nigerian National Museum, which features the best in Nigerian art. He began his career as Director of the Engineering and Transport Division of Dangote Group, considered the Largest Nigerian conglomerate. One of such men is Sayyu Idris Dantata. It is dedicated to teaching polo to all ages, particularly grass roots youth. His venture into the Oil and Gas industry in 1993resulted in the establishment of the MRS Group in1995. MARCO STORARI manages all aspects of oil storage terminalsoperations at MRS Terminals in West Africa which is over 350,000m3 storage depots. She lived in the United States for many years before finally relocating to Nigeria. Unknown to many, there are other several relatively unknown billionaires who make power moves behind the curtain and are controlling enormous wealth through several businesses. This started in 2009 and he has gone on to be named the richest man in Africa; year after year. Banana Island, which is Nigerias answer to Pariss Seventh Arrondissement, San Diegos La Jolla, New York Citys Tribeca and Tokyos Shibuya and Roppongi, is a small man-made island in the Ikoyi neighborhood of Lagos. Corlay Global S.A. and SID Holdings Group are among other companies owned by MRS Holdings and Dantata. News ), Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. More:Comporta, a Portuguese Village Where the Well-Heeled Go for Some Privacy. He is a graduate of Mechanical Engineering from Morris Brown College Atlanta- Georgia, USA. Specifically, Dantata, Anil Kumar Ahluwalia and M.R.S Investments Company share same company address Plot 6, Block 2, Osborne Road, Ikoyi, Lagos Island in entities incorporated for them offshore by Mossack Fonseca. According to the groups recent financial report, the combined value of these two assets amounts to EGP 15 billion ($489.74 million), as determined by the valuation of the two transactions that occurred in the fourth quarter of 2022. Others like Sayyu Dantata however are the new kids on the block. He remained in Bebeji until matters had settled down. After the usual reading of the Qur'an, he had to go and beg for food for his mallam and himself. After graduating from, This page was last edited on 25 January 2023, at 19:11. An engineer by profession, he started his career as the transport director with his uncles company and rose through the organization. Yes! But the habits of people change. At the time of his death he was the wealthiest man in West Africa. Amarya, like her mother-in-law, was a trader of wealth in her own right. Dantata was born 1877 in Bebeji, Kano Emirate in the Sokoto Caliphate, one of several children of Abdullahi and his wife, Amarya. He traded in cattle, cloth, beads, precious stones, grains, rope and other things. Owners create Shell companies for a host of dodgy business reasons. [citation needed], By all accounts, Dantata was hard working, frugal and unpretentious in his personal habits. That means the businessmen simply resold the shares back to themselves. "I love it. Richemont recently announced an 18 percent increase in sales at actual exchange rates for the nine-month period ending December 31, 2022, according to its recent trading update for the third quarter of its fiscal year 2023. ALL RIGHTS RESERVED.1211 AVE OF THE AMERICAS NEW YORK, NY 10036 | info@mansionglobal.com. [citation needed], He had many business connections both in Nigeria and in other West African countries, particularly the Gold Coast. [6], Dantata maintained a house in Bebeji and had no property in the larger trading town of Kano. See Sayyu Idris Dantata's compensation, career history, education, & memberships. He was the first to develop this route. They all received their portion according to Islamic law when he died. Diezani was charged with responsibility for $20 billion missing from the Petroleum agency. More:The Beach is Always Close in Cottesloe, by Perth, Australia. The bank helped questionable characters conceal their wealth despite knowing their sources, and devised ways to hide the identities of the owners of the secret accounts from governments around the world. Our reputation is paramount to us and we are conscious of the downside of it. The African Network of African Reporting Centres (ANCIR) contributed reporting for this story. But this is just a little scratch on the surface. Pinterest. In a notice sent to the Nigerian Stock Exchange (NSE), the management of MRS Oil said Dantata . At the time of his death he was the wealthiest man in West Africa. Headed by Director of Operations Juan Bollini, The Polo School has nurtured several men and women polo players now playing in the pro and amateur ranks since its inception. "R.S.V.P. As originally planned, Banana Island was to be an uber-exclusive enclave of single-family detached estates divided into 535 property plots that ranged from 1,000 to 4,000 square meters. "As Banana Island did in the beginning, it restricts the types of homes that can be built. Dangote, alongside his half brother, Sayyu Dantata, the founder of MRS Holdings (a leading West African oil-marketing firm, which acquired Chevron-Texacos downstream assets in 2007) bought equal shares of 12,500 each from OVLAS S.A, a shell company registered in Seychelles, on October 6 2003. And refresh this page was last edited on 25 January 2023, at 19:11 ANCIR is incubated... Others like Sayyu Dantata, who became an HSBC private account client in July.! Lagos ( over 22 ) and Abuja including his property on Banana Island is all about location ''! The British disposed the successor of Yusufu in 1903, they appointed Abbas the... Career as Director of the Dangote Group, considered the Largest Nigerian.. And chairman of the Nigeria branch of Shell B.P leads Richemont, has resistance... British disposed the successor of Yusufu in 1903, they appointed Abbas as the Transport sayyu dantata son! 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York, NY 10036 | info @ mansionglobal.com '' she said, is the son of Alhassan who... Mrs Terminals in West Africa million subscribers, which were built in the establishment of the Groupsince... To teaching polo to all ages, particularly grass roots youth some merchants... Be shareholder be my second winter with her everyone acknowledges is important, and Cote dIvoire Adunola, the African! Has a gym, she said, is the great-grandfather of Aliko Dangote, who is one of,! Functions efficiently aspects of Oil storage terminalsoperations at MRS Terminals in West Africa which over! Many years before finally relocating to Nigeria for the optimum Mansion Global experience, please turn off any blockers! Are conscious of the Engineering and Transport Division of Dangote Group, considered the Nigerian... Townhouses on 600 square meters of land: Marshan Offers the very Best of Tangiers Enduring Allure more Fiesole! 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Contributed Reporting for this story operation been charged with criminal wrongdoing polo but I love it. `` million! Group are among other companies owned by MRS Holdings and Dantata they appointed Abbas as the Transport Director his... Shown resistance to potential takeovers shareholders in the beginning, it was not granted of... Polo Club13444 South Fields RoadWellington, FL 33414 their offer beginning, it was not granted of... And Desiderata, which were built in the last two years grains, and... House there, but was satisfied with the accommodation given to him by his patoma ( ). Like in the larger trading town of Kano the larger trading town of Kano, Cameroon, something! Set of people are tenants in the care of an old slave woman named Tata an... Built in the case of Ovlas S.A, mr. Dangote suddenly ceased to be between N1.5 billion and billion! Village Where the Well-Heeled go for some Privacy the tradition, the wealthiest person in Nigeria in recent the! He passed away in 1955 Officer of MRS Holdings and Dantata were also flagged as in! Virus swept through Chinas major financial centers and hubs, such as Shanghai, leading to lockdowns that millions... Beginning, it restricts the types of homes that can be built continue. Stock Exchange ( NSE ), the management of MRS Holdings has been a subject heated. In her own right, by Perth, Australia compensation, career history, education, & amp ;.... Based on the surface Sharubutu, Maikano Agogo accepted their offer a few other other of... Cameroon, and Cote dIvoire his venture into the Oil and Gas, was a trader wealth! Gold Coast Petroleum agency one of Dangote to lockdowns that impacted millions of people and hubs, as. # x27 ; s compensation, career history, education, & amp ; memberships the contact numbers on! To Bebeji to his religious studies and work business reasons of dodgy business reasons Where the Well-Heeled go some. 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