Alike Dangote's stepbrother Sayyu Dantata launches $450-million lubricant plant in Lagos. Sayyu Idris Dantata is Former Chairman at Mrs Nigeria PLC. In the same manner, his brother, Dantata, was issued the same amount of 250,000 shares. House heights were to be capped at three stories. Oriental Weavers, a prominent carpet manufacturer based in Egypt and led by accomplished business tycoon and executive Yasmine Khamis, faced a decline in profits below the EGP950 million ($31 million) mark at the end of its 2022 fiscal year. They all received their portion according to Islamic law when he died. His presence as a resident of Banana Island doesnt come as a surprise. However, it was not granted because of worldwide military and economic conditions. Nigerians who live on Banana Island include a growing list of prominent Nigerians and expatriates who have incredibly deep pockets and can afford to spend millions of naira on a property. The dividend payment will result in the family receiving EGP237.8 million ($7.76 million) from their 56.58-percent stake in the company. After three years of holding the shares, they all ceased to be shareholders. According to the documents, three years after they existed as shareholders of the company, the trio Dangote, Dantata and M.R.S Oil and Gas Company Limited ceased to be shareholder in the company. 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. Money laundering, billing schemes, fictitious service schemes, bankruptcy fraud, tax evasion, and market manipulation are some of the fraudulent activities facilitated by shell companies, several past investigations by ICIJ and this newspaper have shown. But shell companies are not illegal, and not all owners use them to avoid tax or hide assets. - Sayyu Dantata - Son of Alhassan Dantata - the wealthiest man in West Africa at the time of his death in 1955.-Kola Abiola - son of MKO Abiola - prominent businessman, publisher and politician. I tried my best. He has an estimated net worth of $4.1 billion and the figures continue to soar. and was honoured by the Federal Government of Nigeria with the title of the Grand Commander of the Order of the Niger. One of the greatest mistake people make is to think that happiness can be . For instance in 2010, the management of Bank PHB, a Nigerian bank, dragged M.R.S Holdings Limited, owned by Dantata, to court over the non- payment of US$58 million loan the bank granted it to purchase Chevron Texaco in 2008. [citation needed], By all accounts, Dantata was hard working, frugal and unpretentious in his personal habits. His venture into the Oil and Gas industry in 1993 resulted in the establishment of the MRS Group in 1995 On this trip he also went to England and was presented to George V.[2] Dantata financed the pilgrimages of other Muslims to Mecca, a tradition that continues among his descendants. Scholarships are available. 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. More:Marshan Offers the Very Best of Tangiers Enduring Allure. Unlike other established Kano merchants, he was in his mid-thirties, with a small family and retinue to support. 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. [citation needed], Dantata was already familiar with the manner by which traders could make fortunes by buying cocoa for Europeans in the Gold Coast. This started in 2009 and he has gone on to be named the richest man in Africa; year after year. 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. Please contact us using the information below. He is widely regarded as the presumed winner of the 1993 presidential elections. He is the Founder and CEO of MRS Holdings Ltd (Formerly, MRS Group). Given at Victoria, Seychelles.. In 2015, her net worth was estimated to be between N1.5 billion and N2 billion. 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. Facebook. 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. At the time of his death he was the wealthiest man in West Africa. 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. Shortly before his death, he pointed to sixty "groundnut pyramids" in Kano and said, "These are all mine". 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). Were proud of the work we do, notwithstanding recent and willful attempts by some to mischaracterize it.. Ikoyi also is a shopping destination. Alhaji Dantata started his career as Director of the Engineering and Transport Division of Dangote . 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. Oriental Weavers, led by Khamis and other family members of the late Mohammed Farid Khamis, is a prominent carpet manufacturer and distributor with active operations in about 150 countries worldwide. The son of the slain businessman, politician, publisher and winner of the 1993 presidential elections in Nigeria, M.K.O Abiola. "It offers security, tranquility and privacy. //]]> After her husband's death, she decided to leave Bebeji for Ghana, where she had commercial interests. He did not own a house there, but was satisfied with the accommodation given to him by his patoma (landlord). Tumblr. MRS Holding particularly popped up regularly as multiple shareholder company for other companies linked to Dangote and Dantata in Panama. 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. There are three mixed-use high-risesthe Adunola, the oldest, and Lakepoint Towers and Desiderata, which were built in the last two years. Most Valuable Player Grand Champions Polo Club Watch LIve on the all-new ChukkerTV App: Download Unauthorized request L2FwaS9jb21tZW50L0dldENvbW1lbnRzP2NydW1iPUJZeG5yUE5HblVSS00ySTFNalZqTldReU1qVXhOMlZrTVRjNE9UZzNPRFZtTUdWaFpHUXg= 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. 26 Jan 2023 06:54:53 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. Sayyu Dantata, chairman MRS Oil chairman, has tendered his resignation as chairman of the company. 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. 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. She lived in the United States for many years before finally relocating to Nigeria. They paid it and Dantata returned to the trading business without his family lands around Kano. 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. Despite several documents linking Dangote to those offshore companies, the businessmans spokesperson insisted he never had any relationship with the offshore entities. [3] Both his parents were wealthy Agalawa, a hereditary group of long-distance traders in the Hausa empire. [citation needed], Dantata made a pilgrimage (hajj) to Mecca via boat in the 1920s. They are Afrex S.A clients in Panama. "I love it. 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. 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. Ms. Nouboue also praised Alara, the Victoria Island shop that celebrates African craft. Staff Login 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. A dedicated road connects it to a network of roads near Parkview Estate. I wish to state categorically that neither Aliko Dangote nor Dangote Industries Ltd (DIL) has any form of relationship with these alleged four off shore companies. The chunk of his wealth is believed to have been inherited from his father. Correction: An earlier version of this text stated that Sayyu Dantata is Aliko Dangotes cousin. View profiles of the MRS board and our executive management team. "I won my debut, that's a good thing. [CDATA[ 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. ", She said its possible to buy a unit for about NGN363 million "because value has dropped significantly in the last three years with the devaluation of the naira. Leave Application For many, this did not come as a surprise as Banana Island is largely considered to be on the same level of exclusivity with Saint Germain-des-Prs in Paris, Malibu in California, Beverly Hills in the United States, Burj Khalifa in Dubai and the elegant Calle Serrano in Spain. Her home is unarguably the most talked-about property on Banana Island owing to her status as a celebrity blogger. Abdullahi was the son of Baba Talatin, it was Baba Talatin who brought the family from Katsina to Madobi in Kano following the death of his father called Ali, Abdullahi continued to operate from Madobi until 1877, when having set out for a journey to Gonja headquarters of Kola nut trade at Ghana, his wife gave birth to Alhassan at the campsite (Zango) of Bebeji, upon his return from the journey he decided to abandon Madobi for Bebeji. More:Abu Dhabis Al Reem Island Is a (High-End) Work in Progress. Nigerian businessman Sayyu Dantata, the stepbrother of billionaire Aliko Dangote, has launched a $450-million lubricant plant in Lagos through Bestaf Lubricant Limited. We only incorporate companies, which just about everyone acknowledges is important, and something thats critical in ensuring the global economy functions efficiently. "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. Dangote and Dantata have allegedly used their multiple companies in Nigeria and other countries to secure huge loans. He is largely regarded as being socially invisible and this stems from the low profile he has maintained over the years. 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. [citation needed], In 1906, he began broadening his interests by trading in beads, necklaces, European cloth, and trade goods. However, he is revered in the growing Nigerian polo community as a patron and also ranks as a strong player. "Typically, a very large percentage of homes are customized, while a few are large estates accommodating a number of prototype houses," he said. He holds aBachelors degree in Economics from the ParisAcademy and has been with the MRS Groupsince 2004. 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. He has been tagged the most successful politician in Lagos State. 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. In 195354 he became a licensed buying agent, which allowed him to sell directly to the Nigerian Groundnut Marketing board instead of another firm. 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. Sayyu Dantata, a chip off the old block of the Dantata family has come to establish himself as a major player in the Oil and Gas sector. 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. Read the full response from Mossack Fonseca, African Network of African Reporting Centres. It was a super fun team. Dantata serves as a Director of Hydro Alternative Energy, Inc. and has been a Non-Executive Director of Nigerian Telecommunications Limited since August 2008. (For religious reasons, his money collected no interest). It was the first time he played against polo great Adolfo Cambiaso. They should take care of their relatives, especially the poor among them. The M.R.S Investments Companies mentioned earlier is a subsidiary of MRS Holdings. In a notice sent to the Nigerian Stock Exchange (NSE), the management of MRS Oil said Dantata . 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. Yusufu received his religious training from Qaadiriyya schools. 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 . Sayyu Dantata is the son of Alhassan Dantata who was the wealthiest man in Africa at the time he passed away in 1955. 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. Grand Champions Polo Club13444 South Fields RoadWellington, FL 33414. "R.S.V.P. His passport to the nation's sweet crude is the MRS. 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. He was the first to develop this route. 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. Suspects who killed Ogun couple, son on New Year's day arrested. Anil Kumar Ahluwalia, whose company name is Santosh Investment Limited S.A is connected to a Panama shell company called Lotus Trust Services Sarl. [citation needed], By 1922 Dantata had become the richest businessman in Kano, surpassing other merchant traders. Dantata, who is Dangote's stepbrother, is the founder and chairman of MRS Holdings Company Limited. She is the daughter of late Chief M.K.O Abiola. Olivera led Mashomack with a team-high five goals. newsheadline247-February 9, 2023. . Privacy Policy | 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. 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. After the usual reading of the Qur'an, he had to go and beg for food for his mallam and himself. ", COPYRIGHT 2023 MANSION GLOBAL. Thereafter, he moved on to start his own business and now serves as the Chief Executive Officer of the MRS Group. [3] Abdullahi died in Bebeji around 1885. 2023 Billionaires.Africa. She was accused of organising a diversion of $6 billion (N1.2 trillion) from the Nigerian treasury and was arrested in London in 2015. Diezani was charged with responsibility for $20 billion missing from the Petroleum agency. That happened on October 12, 2012. 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. The Group has four quoted companies on the Nigerian Stock Exchange and we cannot afford to tarnish our reputation or conduct our business in an unethical manner given this profile. 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. NEXT: 5 Female Nigerian Politicians Involved In Corrupt Practices, Aliko Dangote, a poster boy for Africas undeniably successful businesses, is one of, The Board of Director of Medview Airline Plc has resolved to engage in lease . Abdullahi's children were too young to manage his considerable wealth. After her death he focused his attention on new opportunities in Lagos and Kano. [1][2] He is the great-grandfather of Aliko Dangote, the wealthiest person in Nigeria and Africa. He is a graduate of Mechanical Engineering from Morris Brown College Atlanta- Georgia, USA. Tukur was his son. Dantata was born 1877 in Bebeji, Kano Emirate in the Sokoto Caliphate, one of several children of Abdullahi and his wife, Amarya. 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. Rated as a 2-goaler in the U.S., he saw some action on the field at IPC last season. 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. 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. Securely share information with Africa's finest journalists. 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 purchased some items in Bebeji, he sold half of them on the way and the rest in Accra. He asked them not to allow the company to collapse. That was on April 12 2006. 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. wealth and financial magazine, Forbes namedBanana Islandin Lagos as themost expensive neighbourhoodand place to live in Nigeria. Sayyu Dantata is the billionaire cousin of Alhaji Aliko Dangote, Africas richest man and Chairman of the Dangote Group. Corlay Global S.A. and SID Holdings Group are among other companies owned by MRS Holdings and Dantata. 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. and founder of Sanusi Dantata and sons limited. For art, residents head to Ikoyi, which is five minutes away by car. Sayyu Dantata is the son of Alhassan Dantata who was the wealthiest man in Africa at the time he passed away in 1955. "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. Oriental Weavers is a leading carpet manufacturer and distributor. Evidence abounds in the data that the Panamanian company, Mossack Fonseca, offers clients aggressive reinvoicing services that are specifically designed to help companies avoid/evade taxes. He supplied large British trading companies with raw materials and also had business interests in the Gold Coast. 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. Staffs hail billionaire Sayyu Dantata, as he personally flies his chopper to work to beat the Apapa traffic, today, in Lagos. BILLIONAIRE businessman, Femi Otedola and Founder of MRS Group, Alhaji Sayyu Dantata, are some of the first set of Nigerian business leaders to pre-order the yet to be released . At the time of his death he was the wealthiest man in West Africa. Dangotes account was in operation till August 2004. [citation needed], He had many business connections both in Nigeria and in other West African countries, particularly the Gold Coast. Its illegal to market real estate in anything but naira.". Here is a video of Sayyu Dantata flying his new $2m Helicopter-Chopper from the MRS Head Office in VI to his warehouses in Apapa. DPR 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. I love her. His venture into the Oil and Gas industry in 1993resulted in the establishment of the MRS Group in1995. 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. Their company MRS Oil and Gas was re-issued 500,000 shares. GB Auto, a Cairo-based automaker led by the family of the late Egyptian auto tycoon Raouf Ghabbour, achieved a record-breaking profit of EGP 10.5 billion ($344 million) at the end of its 2022 fiscal year. is a great place to go on Friday nights," she said. In the same manner, his brother, Dantata, was issued the same amount of 250,000 shares. 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. The 200-million-liter lubricant plant is the first of its kind in West Africa and covers the entire value chain of lubricants. ", More:Fiesole, Italy, Offers a Village Feel Just Outside Florence. 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. More:The Beach is Always Close in Cottesloe, by Perth, Australia. They serve cocktails, and theres a pool.". SD Farms Wins Aspen Valley Cup At Grand Champions; Sayyu Dantata Jr. ], by 1922 Dantata had become the richest businessman in Kano and said ``... The most successful politician in Lagos and Kano Enduring Allure and retinue to support thats critical in ensuring global... Art, residents head to Ikoyi, which were built in the Gold Coast other. Children were too young to manage his considerable wealth Gold Coast come as a patron and had... For many years before finally relocating to Nigeria the Qur'an, he moved on be! The establishment of the slain businessman, politician, publisher and winner of the MRS Groupsince.. Is unarguably the most successful politician in Lagos State Africa and covers the entire value chain of lubricants Former at... Other West African countries, particularly the Gold Coast ] ] > her. 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Offshore entities after year by his patoma ( landlord ) successful politician in Lagos State Marshan Offers the Best! To leave Bebeji for Ghana, where she had commercial interests, M.K.O Abiola 1 ] [ 2 he! And economic conditions time of his death, he sold half of them on the field at IPC last.! He holds aBachelors degree in Economics from the Petroleum agency in Progress Africa at the time of wealth.