Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. Aliko Dangote is widely known for his staggering wealth. Shell companies constitute some of the darkest, sometimes convoluted, corridors in global illicit finance. (For religious reasons, his money collected no interest). 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. 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 . 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. The most expensive listing now on the market, NGN5 billion, is for a six-bedroom detached house on 2,600 square meters of land, she said. 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. 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. "Victoria Island is like Manhattan," Ms. Nouboue said. In addition to Dantata Jr., Hope Arellano had three goals and Peco Polledo added two goals. Correction: An earlier version of this text stated that Sayyu Dantata is Aliko Dangotes cousin. They serve cocktails, and theres a pool.". 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. Olivera led Mashomack with a team-high five goals. Corlay Global S.A. and SID Holdings Group are among other companies owned by MRS Holdings and Dantata. 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. 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. Ten of the richest businessmen in Ethiopia most of whom youve likely never heard of, Abdul Samad Rabiu becomes Nigerias second-richest man, net worth surges above $7 billion, African billionaire heirs are making their mark in philanthropy, Billionaire mining mogul Patrice Motsepe acquires luxury wine farm in South Africa, Egyptian billionaire Naguib Sawiris Orascom Investment sells stake in TWA in $35-million deal, Mohammed Akoojees Imperial Logistics partners with UbiPharm to create Africas largest healthcare distribution network, Sam Darwishs IHS Towers to acquire tower assets in Brazil in $315-million deal. Banana Islands electrical and water systems are underground, theres a central sewage system and treatment plant as well as street lighting and satellite telecommunications networks. MRS is a non-discriminatory, equal employer, providing gender equal opportunities and remuneration that is competitive within the industry. His company, Globacom has over 27 million subscribers, which makes it the second largest telecom company in Nigeria. Dantata did not manage from behind a desk but involved himself with his workers. That means the businessmen simply resold the shares back to themselves. [5], Probably after being freed from slavery around 1894, Dantata joined a Gonja-bound caravan to see his mother. 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.. However, it was not granted because of worldwide military and economic conditions. Seychelles is a well-known tax haven used by businessmen and politicians and celebrities to perpetrate shady business deals. To keep reading for free, please enter your email! The contact numbers listed on MRS Holdings website failed to connect the several times our reporter called. More:Abu Dhabis Al Reem Island Is a (High-End) Work in Progress. Like in the case of Ovlas S.A, Mr. Dangote suddenly ceased to be shareholder. Details available show that the plant has the capacity to produce about 50 percent of Nigerias lubricant consumption, which today stands at about 364 million liters. ", More:Click for more profiles of high-end neighborhoods around the world. According to documents available to Premium Times, on the same day, Dangote was re-issued a higher number of shares 250,000. Prior to foundingMRS in 1995, Alhaji Dantata was the Director ofDangote Transport (Dangote Group), Lagos,Nigeria. [6], Dantata maintained a house in Bebeji and had no property in the larger trading town of Kano. Some established merchants of Kano like Umaru Sharubutu, Maikano Agogo accepted their offer. The newer ones are more modern, with straight angles, and they are less elongated because they are on less land. His son, Alhaji Aminu Dantata and his grandchildren like Hajiya Mariya Sunusi Dantata as well as his great-grandchildren, Aliko Dangote still finance pilgrimages of other Muslims to Mecca every year. window.__mirage2 = {petok:"NU1XWiS0aIgqL2kNAZJSViJcfj6ZI_mmTiSkiHqpr5Y-3600-0"}; He has been tagged the most successful politician in Lagos State. 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. In some cases, the issues have had to do with his personal life, while at other times it had to do with his business. This is true, at least, some of us believe it. Owners create Shell companies for a host of dodgy business reasons. 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. They work for multinationals as well as the mega mobile-network operator Etisalat Nigeria; Airtel Nigeria, the provider of prepaid, postpaid mobile and 4G services; Ford Foundation Nigeria, a nonprofit whose mission is to advance human welfare; and the law firm of Olaniwun Ajayi & Co., which all have headquarters there. Advertisement. Dantata was born 1877 in Bebeji, Kano Emirate in the Sokoto Caliphate, one of several children of Abdullahi and his wife, Amarya. [citation needed], By 1922 Dantata had become the richest businessman in Kano, surpassing other merchant traders. Ikoyi also is a shopping destination. Dantata worked harder in Ghana than he did in Bebeji. 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. [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. . 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. By. 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). "I won my debut, that's a good thing. Others like Sayyu Dantata however are the new kids on the block. Buyers have a choice of two- to four-bedroom en-suite flats, maisonettes and terrace houses, added Charles Onyenze, an associate at Knight Frank. Dangote has been repeatedly listed by Forbes for his wealth. Read the full response from Mossack Fonseca, African Network of African Reporting Centres. He also owns a property on Banana Island, which explains his inclusion on this list. He dealt not only in groundnuts and kola but also in other merchandise. 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. Dantata built his first house in the then empty Sarari area (an extension of Koki) in Kano. In 2012, her blog was worth $1.2 million. Again, they resumed possession of the shares again as in the previous time, but this time it seems Dangote sold his shares to Dantata and M.R.S Oil and Gas Company Limited. She lived in the United States for many years before finally relocating to Nigeria. Richemont ranks as the fourth-largest luxury company globally, boasting a market capitalization of almost $79 billion. 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. Samoa is one of the various countries used as tax havens by large corporations. He is the Founder and CEO of MRS Holdings Ltd (Formerly, MRS Group). The island also has three prominent condo developments: Ocean Parade Towers, Bella Vista Towers and Lakepoint Apartments. But the habits of people change. At some point he returned to Bebeji to his religious studies and work. 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. "Its a beautiful concept store designed by architect David Adjaye, and it has everything from fashion to furnishings," she said. Sayyu Dantata, billionaire cousin of Africa's Richest person Aliko Dangote, has launched a $450 million lubricant plant in Lagos through Bestaf Lubricant Limited. Unlike other established Kano merchants, he was in his mid-thirties, with a small family and retinue to support. Anil Kumar Ahluwalia, whose company name is Santosh Investment Limited S.A is connected to a Panama shell company called Lotus Trust Services Sarl. Africa's Business Space At Your Finger Tips! SD Farms will return for a second season.Hippy Chic, a Chestnut mare owned and played by Hope Arellano in the second chukker, was Best Playing Pony. Nigerian businessman Sayyu Dantata, the stepbrother of billionaire Aliko Dangote, has launched a $450-million lubricant plant in Lagos through Bestaf Lubricant Limited. 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. From Femi Otedola to Aliko Dangote, billionaire Mike Adenuga, and even Tony Elumelu. "Arellano got the opportunity to play with her brother Lucas, 20, who subbed for Dantata Sr. "It was so much fun today," Arellano said. Securely share information with Africa's finest journalists. 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. founder and chairman of MRS Holdings Company Limited, nine-month period ending December 31, 2022. But he said that hes optimistic that "the economy will improve. Terms of Use, ANCIR is being incubated by Code for Africa. "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. In essence, they are corporations that exist mainly on paper, have no physical presence, employ no one and produce nothing. He traded in cattle, cloth, beads, precious stones, grains, rope and other things. For art, residents head to Ikoyi, which is five minutes away by car. 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. House heights were to be capped at three stories. In the resulting civil war, Yusufu forces were victorious over Tukur, and claimed the title of emir. 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. We only incorporate companies, which just about everyone acknowledges is important, and something thats critical in ensuring the global economy functions efficiently. He is widely regarded as the presumed winner of the 1993 presidential elections. It also offers status. 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. They are Afrex S.A clients in Panama. In the same manner, his brother, Dantata, was issued the same amount of 250,000 shares. First Avenue in the north and Second Avenue in the sound merge and run around its perimeter. PAIA Manual | 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. Additionally, the company is developing a pricing strategy with alternative product offerings. He holds aBachelors degree in Economics from the ParisAcademy and has been with the MRS Groupsince 2004. Scholarships are available. Shares of the company are currently trading at EGP10.79 ($0.352), representing a 1.8-percent increase from their opening price on the Egyptian Exchange this morning. Basically, the [] "I love playing with my brother. Ovlas Trading is co-owned by Sayyu Dantata and Patrice Alberti in the name of Ovlas Trading S.A., for 75 shares with a par value of US$ 100,00 each; and in the name of Karbelina Investments LLC, for 25 shares with a par value of USS 100,00 each. 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. "The first houses that were built are in British and Dubai traditional styles," Ms. Nouboue said. 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. More:The Beach is Always Close in Cottesloe, by Perth, Australia. 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. Its by invitation only. He began his career as Director of the Engineering and Transport Division of Dangote Group, considered the Largest Nigerian conglomerate. 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. To get to the island, you have to pass through a security gate. See Sayyu Idris Dantata's compensation, career history, education, & memberships. Bola Ahmed Tinubu popularly known asJagabanis a former Lagos State Governor (1999-2007) and astute politician. [1][2] He is the great-grandfather of Aliko Dangote, the wealthiest person in Nigeria and Africa. 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. 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. 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. "Most of the schools stop at the primary level because people tend to send their children to boarding schools in the U.K. and the U.S.," Ms. Nouboue said. He has an estimated net worth of $4.1 billion and the figures continue to soar. Staffs hail billionaire Sayyu Dantata, as he personally flies his chopper to work to beat the Apapa traffic, today, in Lagos. It has not impacted the prices in Banana Island significantly, though the fact that there are more options in the luxury market has definitely reduced the high and fast increase of prices that we could have noticed a decade ago. That happened on October 12, 2012. Now you might be familiar with the Dantata family name, but the question is: do you know who Sayyu Dantata is? 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. 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. Below is a list of 9prominent Nigerians who live on Banana Island as well as those who own properties on it. As an entrepreneur and billionaire owner of Globacom, Nigerias second-largest telecom company, Mike Adenuga is a man with luxurious tastes. 5 Female Nigerian Politicians Involved In Corrupt Practices, 5 African Billionaires Empowering the Younger Generation, 5 Ways Aliko Dangote will become even Richer via His Refinery, Aliko Dangote to Launch $19 Billion Oil Refinery in January 2023, African Billionaires: An Overview of 2022, 4 Tough Economic Decisions Awaiting Nigerias Next President, 5 Most Controversial Policies of the Buhari Administration, 5 Ways CBNs Naira Redesign Policy Will Affect 2023 Election, 5 Likely Ministers in a Tinubu Presidency, Dont Enter 2022 without Knowing the Difference between a Customer and a Consumer, 5 Reasons Why Youre Not as Successful as You Should Be, 6 Proven Ways Your Small Business Can Multiply Social Media Audience in 60 Days, #Cryptocrash: If You Panic Sell, You Wont be Crypto Rich, says Binance Founder, Why Hadiza Bala Usman, Nigerian Ports Authority MD, was Suspended by President Buhari. 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. Dangote is one of the most prominent clients of Mossack Fonseca, and in Panama alone, based on company registration addresses provided by shareholders, 13 shell companies registered by the firm are directly linked to persons and companies who in turn are linked to the billionaire and his allies. More:Comporta, a Portuguese Village Where the Well-Heeled Go for Some Privacy. He began his career as Director of the Engineering and Transport Division of Dangote Group, considered the Largest Nigerian conglomerate. 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). Iyabo Obasanjo, the daughter of Nigerias former President Olusegun Obasanjo also resides on Banana Island. Sayyu Dantata is the billionaire cousin of Alhaji Aliko Dangote, Africas richest man and Chairman of the Dangote Group. AMINA MAINA oversees all trading, supply, and operations of thegroups activities spanning over 6 countries, including Nigeria. GB Auto is a Cairo-based automaker led by the family of the late Egyptian auto tycoon Raouf Ghabbour. As was the tradition, the bulk of his earnings went to his mallam. An engineer by profession, he started his career as the transport director with his uncles company and rose through the organization. He is my favorite teammate. And nearly every house has a gym, she added. MRS Holding particularly popped up regularly as multiple shareholder company for other companies linked to Dangote and Dantata in Panama. Nigerian is a Nigerian politician and the first female President of OPEC. 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 Nigeria, Africas most populous nation, is home to some of the richest men on the continent. Mariya Dantata also has a registered location at Plot 70, Sharada Industrial Area, Phase 3, Kano, Nigeria. In addition to Nigerias wealthiest people, Banana Island draws a variety of ex-pats from the United States, Britain, Lebanon, India and France. newsheadline247-February 9, 2023. 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. 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. Mr. Alhaji Sayyu Idris Dantata is the Founder and Chief Executive Officer of MRS Holdings Ltd (Formerly, MRS Group). 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. The groups operations span several West African countries, including the Benin, Togo, Cameroon, and Cote dIvoire. 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. Resold the shares back to themselves sayyu dantata son Beach is Always Close in Cottesloe by. 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