that he used to purchase about half of all the nuts purchased by the United Africa Company in northern Nigeria. [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. This started in 2009 and he has gone on to be named the richest man in Africa; year after year. Despite several documents linking Dangote to those offshore companies, the businessmans spokesperson insisted he never had any relationship with the offshore entities. The highlight of the schedule is the second season of the 26-goal World Polo League, featuring at least 11 teams and most of the best players in the sport.With 18 safe and well-manicured fields, including 11-tournament grade, the club will host every level of polo for men, women and children including the WPL, the only 26-goal polo held outside of Argentina featuring the best players in the world.The club attracts a large international field of players from all corners of the world including Australia, Chile, India, Mexico, New Zealand, Costa Rica, Argentina, Canada, Ecuador, Brazil, Switzerland, France, Germany, Uruguay, Venezuela, Azerbaijan, South Africa, Nigeria and England.Grand Champions is coming off its finest fall season in the club's 13-year history. More:Abu Dhabis Al Reem Island Is a (High-End) Work in Progress. As an entrepreneur and billionaire owner of Globacom, Nigerias second-largest telecom company, Mike Adenuga is a man with luxurious tastes. "I love it. I've been playing her and it will be my second winter with her. Dantata serves as a Director of Hydro Alternative Energy, Inc. and has been a Non-Executive Director of Nigerian Telecommunications Limited since August 2008. 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. Amarya, like her mother-in-law, was a trader of wealth in her own right. His presence as a resident of Banana Island doesnt come as a surprise. "He is amazing, he is different than anybody I have seen," Dantata Jr. said. 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. This strategic move aims to enhance the companys reputation and further expand its already significant presence in the market. 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. 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. 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. Built on a beach, it has water views and roads like those in the U.S. His net worth has never been successfully estimated given his extremely private life and business dealings. MRS Holding particularly popped up regularly as multiple shareholder company for other companies linked to Dangote and Dantata in Panama. Nigerian businessman Sayyu Dantata, a cousin of billionaire Aliko Dangote, has launched a $450-million lubricant plant in Lagos through Bestaf Lubricant Limited. [1][2] He is the great-grandfather of Aliko Dangote, the wealthiest person in Nigeria and Africa. 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. 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. Alike Dangote's stepbrother Sayyu Dantata launches $450-million lubricant plant in Lagos. There are three mixed-use high-risesthe Adunola, the oldest, and Lakepoint Towers and Desiderata, which were built in the last two years. Sayyu Dantata. His mother, who had never remarried, died in Accra around 1908. 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. [citation needed], By 1922 Dantata had become the richest businessman in Kano, surpassing other merchant traders. Thank you for your interest in MRS Holdings Ltd. (For religious reasons, his money collected no interest). 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. Dantata, who is one of Dangote's cousins, is the founder and chairman of MRS Holdings Company Limited. Sayyu Dantata is the billionaire cousin of Alhaji Aliko Dangote, Africa's richest man and Chairman of the Dangote Group. "Most of them are owned by individuals and rented out to tenants who pay NGN25 million to NGN30 million annually. [6], Dantata maintained a house in Bebeji and had no property in the larger trading town of Kano. "I don't know what happened in that last chukker," Dantata said. 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. "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. It is a similar story in Seychelles, an archipelago of 115 islands in the Indian Ocean off East Africa, where Afrex S.A and Bulldog Global Financial Services LLP act as client for Dangote and Dantatas companies. At the time of his death he was the wealthiest man in West Africa. House heights were to be capped at three stories. 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. As was the tradition, the bulk of his earnings went to his mallam. Some others set up shell companies to raise funds before starting operations, to attempt a takeover or as a front for an illegal business. By Godwin Oritse. 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. He is currently the Chairman of the MRS Group ofcompanies, Petrowest Trading S A, PetrowestServices Geneva and Corlay Global S Aleveraging on over 20 years of experience inthe downstream petroleum industry inNigeria. She lived in the United States for many years before finally relocating to Nigeria. However, in recent years the founder of MRS Holdings has been spick and spank. 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. Over the past few years, her net worth has been a subject of heated debate. Alhaji. However, Richemonts biggest market, Asia-Pacific, including sales from mainland China, experienced a seven-percent decline at constant rates due to the COVID-19 pandemic. 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. 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. He has an estimated net worth of $4.1 billion and the figures continue to soar. Among those accounts were that of Dangote, who became an HSBC private account client in July 2003. newsheadline247-February 9, 2023. 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. PAIA Manual | The son of the slain businessman, politician, publisher and winner of the 1993 presidential elections in Nigeria, M.K.O Abiola. Shortly before his death, he pointed to sixty "groundnut pyramids" in Kano and said, "These are all mine". Her home is currently valued at N800 million. 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. Leave Application He has 31 years experience gained in shipping, oil trading, supplyoperations, fleet tanker management, maritime claims, andinsurance amongst others from various companies in Italy,Monaco and Nigeria. He supplied large British trading companies with raw materials and also had business interests in the Gold Coast. Ms. Nouboue said that the prices at Eko are higher than those at Banana Island, adding that its not unusual for a flat to be listed for NGN1billion. Its illegal to market real estate in anything but naira.". 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. 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. View profiles of the MRS board and our executive management team. The groups operations span several West African countries, including the Benin, Togo, Cameroon, and Cote dIvoire. He graduated in 1979 with a Bachelor of Science degree in Accounting and has been said to have a net worth of N10 trillion. Marshan Offers the Very Best of Tangiers Enduring Allure, Glasgows Pollokshields Has Mansions, Green Spaces and an Artsy Vibe, Fiesole, Italy, Offers a Village Feel Just Outside Florence, Ultra-Low-Mileage Bugatti to be Auctioned in Paris, Comporta, a Portuguese Village Where the Well-Heeled Go for Some Privacy, Abu Dhabis Al Reem Island Is a (High-End) Work in Progress, The Beach is Always Close in Cottesloe, by Perth, Australia, identical twins Peter and Paul Okoye, aka P-Square, Click for more profiles of high-end neighborhoods around the world, Home to Hobarts Millionaires Row, Sandy Bay Offers Waterfront Living and Walkability, Londoners Pay a Pretty Penny to Live in Holland ParkHome to Summer Opera, Grand Mansions and Victoria Beckham, In Eclectic Tel Aviv, Everything in Park Tzameret Is Shiny and New. 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. To mitigate the impact of rising raw material costs on earnings in the current fiscal year, the management is now pursuing strategic restructuring and operational re-engineering efforts to reduce both fixed and variable costs. The newer ones are more modern, with straight angles, and they are less elongated because they are on less land. 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. 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. PATRICE ALBERTI is currently the Vice Chairmanof MRS Group of Companies. We only incorporate companies, which just about everyone acknowledges is important, and something thats critical in ensuring the global economy functions efficiently. Dantata built his first house in the then empty Sarari area (an extension of Koki) in Kano. 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. He is the Founder and CEO of MRS Holdings Ltd (Formerly, MRS Group). He dealt not only in groundnuts and kola but also in other merchandise. "It offers easier access to the mainland, and its closer to the airport. The M.R.S Investments Companies mentioned earlier is a subsidiary of MRS Holdings. Download Opera News APP, By studio.opera.com (self media writer) | 2 years ago. 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. founder and chairman of MRS Holdings Company Limited, nine-month period ending December 31, 2022. [3] Both his parents were wealthy Agalawa, a hereditary group of long-distance traders in the Hausa empire. He is my favorite teammate. The investigation unveiled the cloak of secrecy provided by Mossack Fonseca, a Panamanian law firm that specializes in creating offshore companies, some of which have been used by con men and women to hide Ponzi schemes, predatory lending scams, and other financial frauds from their victims and from the authorities. She was elected to the Nigerian Senate representing Ogun Central Senatorial District of Ogun State. Others like Sayyu Dantata however are the new kids on the block. Twitter. 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. In its suit, Union Bank alleged that in a bid to evade payment of the loan, Sani Dangote made efforts to deplete funds in his accounts by diverting them to Dubai, Canada and Switzerland. "Banana Island is all about location," she said. Alhaji Dantata started his career as Director of the Engineering and Transport Division of Dangote . "Banana Island is a piece of heaven in the middle of noisy Lagos," said Ms. Nouboue, adding that the island has two parks. Bollini scored the final goal with six seconds left. See Sayyu Idris Dantata's compensation, career history, education, & memberships. 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. However, it was not granted because of worldwide military and economic conditions. But shell companies are not illegal, and not all owners use them to avoid tax or hide assets. This highlights the substantial value creation and significant untapped potential at GB Capital, which is one of the groups operating subsidiaries. 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 . 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. There, Tata continued to insist that he must save something every year[citation needed], Dantata started to be a long-distance trader himself. [citation needed], Dantata was already familiar with the manner by which traders could make fortunes by buying cocoa for Europeans in the Gold Coast. 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. More:Comporta, a Portuguese Village Where the Well-Heeled Go for Some Privacy. . Staff Login Despite this challenge, the management team is focused on enhancing the companys global market position. WhatsApp. In some cases, the issues have had to do with his personal life, while at other times it had to do with his business. 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. She left the children in Bebeji, in the care of an old slave woman named Tata. has changed its name and is now incorporated under the name of PETROWEST S.A. on this 27 day of April 2011. Nigerian Gas Association. 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. Yusufu had been passed over when Bello became Emir. 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). The lubricant plant comes with a capacity to produce as many as 1,700 different products in the petroleum chain. 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. 2023 Billionaires.Africa. Rupert has taken steps to secure his position in the company, including appointing his son Anton to the board to ensure a long-term strategic vision for the group. 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. Ms. Nouboue also praised Alara, the Victoria Island shop that celebrates African craft. "Then he gave her to me. 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. 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. ", He conceded that prices have dropped about 30%, but said that "the economy will improve. ALHAJI SAYYU DANTATA is a mechanical engineerby training having attended the Morris BrownCollege in Atlanta, Georgia, USA. It will not be slowed down in perpetuity. //
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