Alike Dangote's stepbrother Sayyu Dantata launches $450-million lubricant plant in Lagos. The lubricant plant comes with a capacity to produce as many as 1,700 different products in the petroleum chain. It is dedicated to teaching polo to all ages, particularly grass roots youth. [citation needed], Dantata was still a teenager when the great upheavals occurred in the Kano Emirate from 1893 to 1895. [2] It is said[by whom?] SD Farms Wins Aspen Valley Cup At Grand Champions; Sayyu Dantata Jr. Suspects who killed Ogun couple, son on New Year's day arrested. That means the businessmen simply resold the shares back to themselves. 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. From Femi Otedola to Aliko Dangote, billionaire Mike Adenuga, and even Tony Elumelu. In providing those services, we follow both the letter and spirit of the law. But the habits of people change. By Godwin Oritse. [citation needed], In 1918, the UK-based Royal Niger Company (later became the United Africa Company) searched for an agent to purchase groundnuts for them, and Dantata responded to their offer. GB Auto is a Cairo-based automaker led by the family of the late Egyptian auto tycoon Raouf Ghabbour. 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. Their company MRS Oil and Gas was re-issued 500,000 shares. The virus swept through Chinas major financial centers and hubs, such as Shanghai, leading to lockdowns that impacted millions of people. His company, Globacom has over 27 million subscribers, which makes it the second largest telecom company in Nigeria. Ikoyi also is a shopping destination. 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. He was buried in his house in the Sarari ward.[2]. The account appeared in the name of Development Projects Corporation, its registration address in Tortola, in the British Virgin Islands, a notorious tax haven, where individuals and corporations usually incorporate shell companies to hide assets. "I won my debut, that's a good thing. Dantata did not manage from behind a desk but involved himself with his workers. Nigerian oil and gas billionaire Sayyu Dantata will be playing on the field at the International Polo Club Palm Beach this season with his SD Farms team alongside Peco Polledo, Juan "Tito" Ruiz Guiazu and Jesse Bray. Read the full response from Mossack Fonseca, African Network of African Reporting Centres. She's turned into one of my best horses. Sayyu Dantata is the son of Alhassan Dantata who was the wealthiest man in Africa at the time he passed away in 1955. Content created and supplied by: studio.opera.com (via Opera Her home is unarguably the most talked-about property on Banana Island owing to her status as a celebrity blogger. 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. Samoa is one of the various countries used as tax havens by large corporations. 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. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform Some descendants of Alhassan Dantata includes: "Alhaji Alhassan Dantata, An Appreciation", "Biography of Select Kano Merchants, 18531955", "Alhassan Dantata: Things You Didn't Know About Him", "Meet the wealthy but simple Nigerian merchant behind Dangote's success story", "Biography of Select Kano Merchants, 1853-1955", "Nigerian Tycoon Abdulkadir Dantata Is Dead", https://en.wikipedia.org/w/index.php?title=Alhassan_Dantata&oldid=1135608976, Mahmud Dantata, popularly known as Mamuda Wapa (19221983): son. 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. 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Shell companies are usually domiciled in notorious tax havens like Cayman Island, Monaco, Panama, Samoa, Switzerland, Luxembourg, Hong Kong, Singapore, Lebanon, Mauritius, British Virgin Islands, St. Lucia, Belize, Macao and close to a hundred others; usually tiny countries. He used the new trade routes to Ibadan and Lagos to develop his network of trading associates. I just went in wanting to do my best and play hard. Afrex Sal is a client company for Dantata and Dangotes Ovlas Trading based in Monaco France. 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. Using data-mining techniques and working in collaboration with a global network of investigators with access to secret databases, Premium Times was able to uncover several Nigerian business players associated with shell companies. Buyers have a choice of two- to four-bedroom en-suite flats, maisonettes and terrace houses, added Charles Onyenze, an associate at Knight Frank. "I just don't like to lose so I said lets go for Nigeria. In addition to Dantata Jr., Hope Arellano had three goals and Peco Polledo added two goals. At the time of his death he was the wealthiest man in West Africa. Over the past few years, her net worth has been a subject of heated debate. This drop was driven by an increase in raw material costs as well as a surge in both production costs and operating expenses. wealth and financial magazine, Forbes namedBanana Islandin Lagos as themost expensive neighbourhoodand place to live in Nigeria. ", More:Fiesole, Italy, Offers a Village Feel Just Outside Florence. Exclusive shops include the handbag purveyor Zashadu, the high-fashion clothier named for the Nigerian designer Ejiro Amos Tafiri, and the functional/fashionable clothing designs of Grey. According to internal data of the Panama-based offshore-provider, Mossack Fonseca, obtained by the German newspaper Sddeutsche Zeitung and shared by the International Consortium of Investigative Journalists (ICIJ), Dangote, his relative, Sayyu Dantata, as well as his business allies have over the years used shell companies domiciled in controversial tax havens in their business transactions. "It looks more like Miami, and the ex-pats are starting to like it more," she said, adding that the project is due to be completed in about 15 years. In 195354 he became a licensed buying agent, which allowed him to sell directly to the Nigerian Groundnut Marketing board instead of another firm. Dantata started his career as Director of the Engineering and Transport. [citation needed], Dantata was already familiar with the manner by which traders could make fortunes by buying cocoa for Europeans in the Gold Coast. Thereafter, he moved on to start his own business and now serves as the Chief Executive Officer of the MRS Group. His venture into the Oil and Gas industry in 1993resulted in the establishment of the MRS Group in1995. Nigerian businessman Sayyu Dantata, a cousin of billionaire Aliko Dangote, has launched a $450-million lubricant plant in Lagos through Bestaf Lubricant Limited.. Dantata, who is one of Dangote's cousins, is the founder and chairman of MRS Holdings Company Limited.The group's operations span several West African countries, including the Benin, Togo, Cameroon, and Cote d'Ivoire. He traded in cattle, cloth, beads, precious stones, grains, rope and other things. The acquisition may face hurdles as Johann Rupert, the South African billionaire who leads Richemont, has shown resistance to potential takeovers. We only incorporate companies, which just about everyone acknowledges is important, and something thats critical in ensuring the global economy functions efficiently. 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. Beauty and seclusion set Banana Island apart. Terms of Use, ANCIR is being incubated by Code for Africa. At the time of his death he was the wealthiest man in West Africa. 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. Billionaire Moves as Sayyu Dantata Dazzles Many at Polo Club with His Chopper Lifestyle June 26, 2022 HighLife There will always be several critical differences between the rich and the poor. Filing legal paperwork to help incorporate a company is a very different thing from establishing a business link with or directing in any way the companies so formed, Carlos Sousa, the companys public relations director, said in a statement to ICIJ. More:Abu Dhabis Al Reem Island Is a (High-End) Work in Progress. Amarya, like her mother-in-law, was a trader of wealth in her own right. [7], In 1912, when the Europeans started to show an interest in the export of groundnut, they contacted the already established Kano merchants through Emir Abbas and their chief agent, Adamu Jakada. On his part, Mr. Sowemimo owns 15,000 share units in Capital Development Solutions Limited which is a client company to Orion House Services (HK) Limited operating in Samoa. Mike Adenuga, the billionaire owner of Globacom, the countrys second largest telecom operator and of the oil exploration firm Conoil, lives on the island, according to Ms. Nouboue and published reports. He had several advantages over other Kano business men: language, wealth and age. Expect to see much more of him this year. Staff Login Aliko Dangote's brother, Sayyu Dantata's MRS Oil head office shut down by Government over Tax Evasion. ", More:Click for more profiles of high-end neighborhoods around the world. 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. Alhaji Dantata started acting as the chairman and Director of the MRS Oil Nigeria Plc since March 2009 and also served as the Director of the Engineering and Transport Division of Dangote Group. In a similar development in September 2014, Sani Dangote, younger brother to Dangote, was dragged before a Federal High Court in Lagos over his alleged failure to liquidate about N5 billion loan granted him by Union Bank. 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. Some of those named in that global investigation were found to have concealed their identities for years and using codes perhaps to shake off tax authorities from accounts, some of which held illicit assets from criminals, traffickers, arms dealers and other outlaws. Dantata, who is Dangotes stepbrother, is the founder and chairman of MRS Holdings Company Limited. She obtained a B.Sc in Business Administration from the AhmaduBello University, Zaria, Nigeria in 1998. "She came from my dad and it was one of my dad's best horses forever," Arellano said. There are three mixed-use high-risesthe Adunola, the oldest, and Lakepoint Towers and Desiderata, which were built in the last two years. He is the Founder and CEO of MRS Holdings Ltd (Formerly, MRS Group). That was also dated April 12 2006. 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. Their company, MRS Oil and Gas, was re-issued 500,000 shares. Mossack Fonseca has, however, in a statement to ICIJ denied wrongdoings, saying, as a registered agent, it merely helps incorporate companies, and that before agreeing to work with a client in any way, it conducts a thorough due-diligence process, one that in every case meets and quite often exceeds all relevant local rules, regulations and standards to which we and others are bound.. The Polo School operates in Wellington January through May and September through November. 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. They serve cocktails, and theres a pool.". [4] Because of the Agalawa support of Tukur, Dantata and the other Agalawa had their property confiscated and many were captured. After graduating from, This page was last edited on 25 January 2023, at 19:11. 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. The Worlds Best Cross-BorderInvestigative Team, ANCIR is not responsible for the content of external sites | He graduated in 1979 with a Bachelor of Science degree in Accounting and has been said to have a net worth of N10 trillion. She is the daughter of late Chief M.K.O Abiola. Dantata built his first house in the then empty Sarari area (an extension of Koki) in Kano. Dantata stated that the plant will not only generate foreign exchange for the country through product exports but also meet the needs of neighboring countries. and was honoured by the Federal Government of Nigeria with the title of the Grand Commander of the Order of the Niger. It also offers status. "He is amazing, he is different than anybody I have seen," Dantata Jr. said. The source of his wealth has been easily traced to his business dealing in the telecom and oil sector. He is the Founder and CEO of MRS Holdings Ltd (Formerly, MRS Group). 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. WhatsApp. It was a super fun team. On the same date also, a company they both own as at 2003, MRS Oil and Gas Co. Limited bought 25,000 numbers of shares from OVLAS S.A. Nigerian Gas Association. By. A 2015 investigation by Premium Times, in partnership with French Daily, Le Monde , the International Consortium of Investigative Journalists, and a host of other major media organisations around the world, had named Dangote among some of Nigerias wealthiest industrialists, former government officials and their relatives, who operated highly secretive foreign accounts with the Swiss branch of banking giant, HSBC. One current listing, she said, is for NGN750 million. LVMH Mot Hennessy Louis Vuitton, a leading luxury goods conglomerate helmed by French billionaire Bernard Arnault, is reportedly pursuing the acquisition of Switzerland-based luxury goods holding company, Richemont, led by South African billionaire Johann Rupert. For additional information on our products/services or our industry expertise, please visit the appropriate page on our site. Shortly before his death, he pointed to sixty "groundnut pyramids" in Kano and said, "These are all mine". He might have hoped his wealthy mother would allow him to live with her and find him work among the Gold Coast Agalawa community. Bollini scored the final goal with six seconds left. The son of the slain businessman, politician, publisher and winner of the 1993 presidential elections in Nigeria, M.K.O Abiola. He had substantial amounts of capital. Anil Kumar Ahluwalia, whose company name is Santosh Investment Limited S.A is connected to a Panama shell company called Lotus Trust Services Sarl. that he used to purchase about half of all the nuts purchased by the United Africa Company in northern Nigeria. He urged them to avoid clashes with other wealthy Kano merchants. And nearly every house has a gym, she added. He told them that his days were approaching their end and advised them to live together. 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. Others like Sayyu Dantata however are the new kids on the block. Nigerian oil and gas billionaire Sayyu Dantata will be playing on the field at the International Polo Club Palm Beach this season with his SD Farms team alongside Peco Polledo, Juan Tito Ruiz Guiazu and Jesse Bray. "Its a beautiful concept store designed by architect David Adjaye, and it has everything from fashion to furnishings," she said. They should take care of their relatives, especially the poor among them. In some cases, the issues have had to do with his personal life, while at other times it had to do with his business. PAIA Manual | 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. "The first houses that were built are in British and Dubai traditional styles," Ms. Nouboue said. That was on April 12 2006. In essence, they are corporations that exist mainly on paper, have no physical presence, employ no one and produce nothing. He was also a good financial manager. 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. "Arellano got the opportunity to play with her brother Lucas, 20, who subbed for Dantata Sr. "It was so much fun today," Arellano said. Dantata could not be reached. 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. Like in the case of Ovlas S.A, Mr. Dangote suddenly ceased to be shareholder. Nigeria, Africas most populous nation, is home to some of the richest men on the continent. Oyekunle is a shareholder of Sunningdale Assets, S.A, a company that also shares same registered location with MRS Holdings Limited at Plot 70 Sharada Industrial Area, Phase 3 Kano, Nigeria. That happened on October 12, 2012. 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. with legendary father/son duo of Adolfo Cambiaso and his 14-year-old son Poroto, ready . Nigerian businessman Sayyu Dantata, a cousin of billionaire Aliko Dangote, has launched a $450-million lubricant plant in Lagos through Bestaf Lubricant Limited. Yes! Some people own shell companies so that when they acquire assets like private jets and real estates, governments do not find out to demand tax. Arjun Thadani controls 2,500 units of shares in Mitarj International Corporation, a client company to USA Corporate Services Incorporated (New York), which also operates from Seychelles. [6], Dantata maintained a house in Bebeji and had no property in the larger trading town of Kano. DISCLAIMER: The currency conversion is provided for illustration purposes only. The lubricant plant, which is located at Tincan Island in Apapa, Lagos, is set to contribute immensely to Nigerias economy and will boost employment, generate revenue, and reduce the countrys import dependence. Sayyu Idris Dantata is Former Chairman at Mrs Nigeria PLC. 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"I love playing with my brother. Similarly, MRS Investments Company Limited is a shareholder company to Chalmers Shipping Incorporation, which in turn is directly connected to another shell company named Afrex Sal, also domicilled in Panama. [citation needed], Dantata applied for a licence to purchase and export groundnuts in 1940, on the same level as the United Africa Company. For the optimum Mansion Global experience, please turn off any ad blockers and refresh this page. He added that the launch of the new facility will drive the production of 200 million liters of lubricant per year, which is more than enough to cover 50 percent of the countrys annual consumption. However, he is revered in the growing Nigerian polo community as a patron and also ranks as a strong player. 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. 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