Before Dangote ceased to be shareholder of M.R.S Oil and Gas Limited, himself, Mr. Dantata and their co-owned company, M.R.S Oil and Gas Co. Limited, was used to buy shares in Petrowest S.A, another company registered in Seychelles on October 6, 2003. In a notice sent to the Nigerian Stock Exchange (NSE), the management of MRS Oil said Dantata . Dangotes account was in operation till August 2004. 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. Prior to joining MRS Group, he held anumber of positions over a period of 20 years invarious banks in Europe, including BNP Paribasand Banque Arabe International,DInvestissment, Banco Central SA, to mention afew. Nigeria, Africas most populous nation, is home to some of the richest men on the continent. More:The Beach is Always Close in Cottesloe, by Perth, Australia. Thereafter, he moved on to start his own business and now serves as the Chief Executive Officer of the MRS Group. The lubricant plant has the capacity to produce 1,700 different products and will play a key role in Nigerias economy by boosting youth employment, generating revenue, and reducing the countrys import dependence. He is widely regarded as the presumed winner of the 1993 presidential elections. He purchased some items in Bebeji, he sold half of them on the way and the rest in Accra. When the British disposed the successor of Yusufu in 1903, they appointed Abbas as the Emir of Kano. AMINA MAINA oversees all trading, supply, and operations of thegroups activities spanning over 6 countries, including Nigeria. But in an arrangement that seems curious, Dangote was issued a higher amount of shares 250,000 on the same day he resigned. It is meant only as an approximation based on the latest information available and should not be relied upon for any other purposes. As a result, the market value of the Khamis familys 56.58-percent stake in the leading carpet manufacturer is now worth EGP4.06 billion ($132.5 million). They should take care of their relatives, especially the poor among them. Its' mission is to provide individuals opportunities in polo at every economic and ability level. She added that four-bedroom, single-family terrace/townhouses that are on average 400 square meters and are on 1,000 square meters of land generally range from NGN350 million to NGN500 million. In 195354 he became a licensed buying agent, which allowed him to sell directly to the Nigerian Groundnut Marketing board instead of another firm. Oriental Weavers is a leading carpet manufacturer and distributor. And nearly every house has a gym, she added. has changed its name and is now incorporated under the name of PETROWEST S.A. on this 27 day of April 2011. Bola Ahmed Tinubu popularly known asJagabanis a former Lagos State Governor (1999-2007) and astute politician. We only incorporate companies, which just about everyone acknowledges is important, and something thats critical in ensuring the global economy functions efficiently. This is true, at least, some of us believe it. Twitter. WhatsApp. [citation needed], By 1922 Dantata had become the richest businessman in Kano, surpassing other merchant traders. DPR Linkedin. He has an estimated net worth of $4.1 billion and the figures continue to soar. 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. Shares of the company are currently trading at EGP10.79 ($0.352), representing a 1.8-percent increase from their opening price on the Egyptian Exchange this morning. I just went in wanting to do my best and play hard. But he said that hes optimistic that "the economy will improve. It is interesting to note that aside from lubricants, the plant also has other production sections for the production of items such as printed labels, PET and HDPE bottles, aerosol and homecare products. In what appears a plot to blur the trace to the Ovlas in Seychelles, the shareholders quickly filed for a change of name to Petrowest S.A. A document seen by Premium Times, reads Republic of Seychelles, INTERNATIONAL BUSINESS COMPANIES ACT, 1994Company No: 018606, This is to certify that OVLAS SA. "A big set of people are tenants in the high-rises," Ms. Nouboue said. Linda is Nigerias celebrated and most popular blogger. He remained in Bebeji until matters had settled down. Nigerian businessman Sayyu Dantata, a cousin of billionaire Aliko Dangote, has launched a $450-million lubricant plant in Lagos through Bestaf Lubricant Limited. See More, 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. Ms. Nouboue said that Eko Atlantic City, a 10-district, 10-square-kilometer luxury high-rise community being constructed on Victoria Island on land reclaimed from the Atlantic Ocean, has created a sea change in the Banana Island market even though only the first buildings have been completed. DISCLAIMER: The currency conversion is provided for illustration purposes only. Presently, the Ghabbour familys 62.9-percent stake in the company is valued at nearly $125 million, making them one of the wealthiest investors on the Egyptian Exchange. It will not be slowed down in perpetuity.". Alike Dangote's stepbrother Sayyu Dantata launches $450-million lubricant plant in Lagos. He worked for money on Thursdays and Fridays. Beauty and seclusion set Banana Island apart. Given that they at times have nominee directors, often have no phone number, no e-mail address, no physical address, no company logo, no contact person and no federal identification number and because the host country deliberately did not collect enough ownership information on company formation documents, there are usually no paper trails for law enforcements to trace back to a particular individual or individuals in most financial investigations. 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. ", She added that because there is not much car traffic, "you can jog in peace.". Seychelles is a well-known tax haven used by businessmen and politicians and celebrities to perpetrate shady business deals. Despite experiencing a single-digit 5.2-percent decrease in revenue during the review period, the groups profit skyrocketed by an astounding 496 percent, surging from EGP 1.77 billion ($57.8 million) in 2021 to EGP 10.54 billion ($344.2 million) in 2022. This literary means they resold the shares back to themselves. Dangote was hurled into prominence when Forbes listed him as one of the richest men in the world. Swimming pools, Ms. Nouboue said, are quite popular. Despite an impressive 16.2-percent increase in revenue from EGP11.4 billion ($372.1 million) to EGP13.26 billion ($432.9 million), the Khamis-led company experienced a nearly 22-percent profit decline from EGP1.21 billion ($39.4 million) in 2021 to EGP944.17 million ($30.8 million) in 2022. Dantata started his career as Director of the Engineering and Transport. [2] It is said[by whom?] How Billionaire Sayyu Dantatas $450 Million Bestaf Lubricant Plant Will Impact Nigerias Economy, Medview Airline to buy two CRJ-900 Bombardier aircrafts on lease, Expert Discusses Biggest Challenges Facing HMOs in Nigeria and possible Solutions, Buhari to Get Copy of 2018 Budget this Week House of Reps, USAID COMMITS ADDITIONAL $7 MILLION TO COMBAT EBOLA, AfDB, others Commit to Joint Action to Speed up Special Agro-Industrial Processing Zones in Africa. 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. In addition to the impact of rising raw material costs on earnings, the groups profit was also affected by a surge in selling and distribution expenses, as well as administrative expenses during the reviewed period. 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. Other business allies who are shareholders in companies located at Plot 70 Sahrada Industrial Area, Phase 3, Kano, Nigeria, include Ayokunu Tajudeen Sowemimo and Arjun Thadani. Sayyu Dantata is the son of Alhassan Dantata who was the wealthiest man in Africa at the time he passed away in 1955. Were proud of the work we do, notwithstanding recent and willful attempts by some to mischaracterize it.. 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. Sayyu Dantata. The horses make you love them. 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. During the announcement of the new brand identity for the group, Nader Ghabbour, the CEO of GB Auto, revealed that the companys new identity strategy focuses on two main pillars: digital transformation and sustainable development. Alhaji Dantata started his career as Director of the Engineering and Transport Division of Dangote . Dantata worked harder in Ghana than he did in Bebeji. [citation needed], Dantata applied for a licence to purchase and export groundnuts in 1940, on the same level as the United Africa Company. Samoa is one of the various countries used as tax havens by large corporations. He asked them not to allow the company to collapse. From Femi Otedola to Aliko Dangote, billionaire Mike Adenuga, and even Tony Elumelu. Kola Abiola is one of Nigerias low-key millionaires. [8], In 1955, Dantata fell ill. Because of the seriousness of his illness, he summoned his chief financial controller, Garba Maisikeli and his children. Her home is currently valued at N800 million. Terms of Use, ANCIR is being incubated by Code for Africa. Bollini scored the final goal with six seconds left. Despite the decline in earnings, the board members approved a cash dividend distribution of EGP0.60 ($0.0196) per share for 2022, totaling EGP399.06 million ($13.03 million). In the resulting civil war, Yusufu forces were victorious over Tukur, and claimed the title of emir. ALHAJI SAYYU DANTATA is a mechanical engineer by training having attended the Morris Brown College in Atlanta, Georgia, USA. The significant decline in the companys profits can be primarily attributed to the surge in raw material costs, including wool, polypropylene, backing, and finishing materials. "Banana Island is a piece of heaven in the middle of noisy Lagos," said Ms. Nouboue, adding that the island has two parks. Of the three condo developments, Ocean Parade is considered the most top-notch, she said, because of its many amenities, which include tennis courts, an Olympic-size pool, two gyms and childrens areas. Managing Director of Bestaf Trading Company Andreas Wielsch stated that, with the lubricant plant, the company will be able to produce about 50 percent of Nigerias annual lubricant consumption of about 364 million liters. Others like Sayyu Dantata however are the new kids on the block. Read on to find out all about this young billionaire and his newly launched Bestaf Lubricant Plant, which was recently declared open by President Muhammadu Buahri. ", He conceded that prices have dropped about 30%, but said that "the economy will improve. He began his career as Director of the Engineering and Transport Division of Dangote Group, considered the Largest Nigerian conglomerate. 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. Correction: An earlier version of this text stated that Sayyu Dantata is Aliko Dangotes cousin. [6], Dantata maintained a house in Bebeji and had no property in the larger trading town of Kano. She survived an assassination attempt in 2003 and is known for her political ambition and affiliations. 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. To keep reading for free, please enter your email! [4] Because of the Agalawa support of Tukur, Dantata and the other Agalawa had their property confiscated and many were captured. newsheadline247 - August 25, 2017. "Banana Island is all about location," she said. Some others set up shell companies to raise funds before starting operations, to attempt a takeover or as a front for an illegal business. According to documents available to Premium Times, on the same day, Dangote was re-issued a higher number of shares 250,000. Scholarships are available. However shell companies are at times used for tax avoidance. "The way he plays, his style, he is just unique. Dangote and Dantata have allegedly used their multiple companies in Nigeria and other countries to secure huge loans. With its impressive collection of premium brands such as Chloe, Dunhill, Alaa, Cartier, and Delvaux, Richemont has secured its place as the fourth-largest luxury company globally, boasting a market capitalization of almost $79 billion. Tinubu owns a growing list of properties in Lagos (over 22) and Abuja including his property on Banana Island. The spokesperson for the Dangote Group, Tony Chiejina, in response to enquiry by Premium Times, said, Thank you for your enquiry concerning our alleged relationship with the following off shore companies namely: Paseo Trading Ltd, Seychelles; Petrowest S.A.,Seychelles; SID Holdings Corp, Panama and Chalmers Shipping Inc, Panama. Alhassan Dantata (1877 - 17 August 1955) pronunciation was a Northern Nigerian trader in kola nuts and ground nuts, and he was a distributor of European goods. Many people using offshore companies do so legally and offshore companies indeed have many legal purposes. Thats the price for each of the twin townhouses on 600 square meters of land. Africa's richest man, Aliko Dangote, and his brother Sayyu Dantata have been linked to shell companies in tax havens, writes Joshua Olufemi and Emmanuel Mayah. [citation needed], He had many business connections both in Nigeria and in other West African countries, particularly the Gold Coast. It features 120 stalls in five self-contained barns, exercise track, five climate-controlled tack rooms, vet room, staff quarters, guest house and four polo fields with state-of-the-art underground irrigation including one field for stick-and-ball and new parking lot.Grand Champions Polo Club and Santa Rita Polo Farm's expert staff can customize a complete playing experience including horses, pros and certified umpires in addition to lessons and practice sessions as part of its' Polo On Demand program, created by Melissa Ganzi when the club first opened.The Polo School, a stand-alone USPA-sanctioned polo club, is thriving at Grand Champions and Santa Rita Polo Farm. "During the winter season in Wellington, Grand Champions is hosting 19 tournaments, the most of any club in the U.S., including four in January. It was the first time he played against polo great Adolfo Cambiaso. 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. The lubricant plant comes with a capacity to produce as many as 1,700 different products in the petroleum chain. 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. With this capacity, the company is thus set to give well-known brands such as Total Nigeria Plc, Ammasco International Limited, 11 Plc, Oando Plc, Tonimas Nigeria Ltd, Forte Oil Plc, and Conoil Plc a run for their money. The first homes were built on the south side of the island, but as land prices skyrocketed through the years, high-rise condo developments were built on the north side, which also houses the areas commercial corridor. View profiles of the MRS board and our executive management team. "I won my debut, that's a good thing. 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. Among them are Sayyu Dantata, Aisha Dantata and Mariya Dantata who are listed as shareholders of Koggi Shipping Incorporation with registered location as Plot 688, No 4 Winnipeg Close Street, Maitama, Abuja, Nigeria. Anil Kumar Ahluwalia, whose company name is Santosh Investment Limited S.A is connected to a Panama shell company called Lotus Trust Services Sarl. Download Opera News APP, By studio.opera.com (self media writer) | 2 years ago. It is a 200 million-liter lubricant processing plant that is acclaimed as the first of its kind in West Africa and covers the entire value chain of lubricants. I've been playing her and it will be my second winter with her. He had several advantages over other Kano business men: language, wealth and age. 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). Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. It was a super fun 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. Sayyu Dantata is the billionaire cousin of Alhaji Aliko Dangote, Africa's richest man and Chairman of the Dangote Group. Their company, MRS Oil and Gas, was re-issued 500,000 shares. "Most of the owners of single-family homes live here full time, but they also have houses in the U.K. or the U.S..". Consciously or unconsciously the essence of everything we do in life is to derive or to attain fullness of happiness. Dantata, who is Dangotes stepbrother, is the founder and chairman of MRS Holdings Company Limited. "I just don't like to lose so I said lets go for Nigeria. window.__mirage2 = {petok:"NU1XWiS0aIgqL2kNAZJSViJcfj6ZI_mmTiSkiHqpr5Y-3600-0"}; He urged them to avoid clashes with other wealthy Kano merchants. Securely share information with Africa's finest journalists. Amarya, like her mother-in-law, was a trader of wealth in her own right. "Typically, a very large percentage of homes are customized, while a few are large estates accommodating a number of prototype houses," he said. In addition, Sayyu Dantata owns a total of 25 million units of shares in Corlay Global S.A, a company that is a client to Afrex Sal and also located at Plot 70, Sharada Industrial Area, Phase 3 Kano, Nigeria. Everyone wants smaller homes because their kids leave and more people are selling their mansions to live in three-bedroom flats, where they dont have to worry about maintenance and using a generator for electricity. We generally think that death is the equalizer of all men and that we will all answer to God. He could speak some English and already had direct dealings with Europeans in Lagos and Accra. In line with its strategy to solidify its leadership position across various sectors, the Cairo-based automaker, owned by the family of the late Egyptian auto mogul, announced earlier this year its plans to rebrand to GB Corp.. 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. He implored them to continue to marry within the family as much as possible. PATRICE ALBERTI is currently the Vice Chairmanof MRS Group of Companies. "Its a beautiful concept store designed by architect David Adjaye, and it has everything from fashion to furnishings," she said. 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. Tukur received his religious training from a Tijaniyya scholar and received the support of the Agalawa. and founder of Sanusi Dantata and sons limited. It was the only club in the nation to stage two 20-goal fall tournaments in addition to the International Cup and Legends of Polo Carlos Gracida Memorial. Register for updates and alerts on ANCIR Investigations. 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. 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. Staff Login In 2012, her blog was worth $1.2 million. [CDATA[ 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. ALHAJI SAYYU DANTATA is a mechanical engineerby training having attended the Morris BrownCollege in Atlanta, Georgia, USA. 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Sign up with your email address to receive news and updates. The surge in sales can be attributed to the rise in sales in Japan, which soared from less than 855 million ($929 million) in 2022 to almost 1.29 billion ($1.4 billion), along with better-than-expected sales in Europe, despite geopolitical tensions sparked by the Ukraine war. Nigerian is a Nigerian politician and the first female President of OPEC. I tried my best. ", More:Fiesole, Italy, Offers a Village Feel Just Outside Florence. Yes! Dantata is the founder and chairman of MRS Holdings Company Limited, one of Nigerias largest marketers of refined petroleum products like gasoline, marine fuels, and aviation fuels. The chunk of his wealth is believed to have been inherited from his father. By. 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. 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. However, he is revered in the growing Nigerian polo community as a patron and also ranks as a strong player. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. To some of the 1993 presidential elections 1,700 sayyu dantata son products in the resulting civil war Yusufu. In 1903, they appointed Abbas as the Emir of Kano was worth $ 1.2 million hurled into prominence Forbes. Wealth is believed to have been inherited from his father some items in Bebeji and had no property in world! 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