Owners create Shell companies for a host of dodgy business reasons. Dangote has been repeatedly listed by Forbes for his wealth. The world's premier source of news on Africa's billionaires and UHNWIs. 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. He had his education at the Morris Brown College in Atlanta-Georgia, United States of America. Sayyu Dantata. 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. As an entrepreneur and billionaire owner of Globacom, Nigerias second-largest telecom company, Mike Adenuga is a man with luxurious tastes. News ), Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. The group's operations span several West African countries, including the Benin Republic, Togo, Cameroon, and . Alhaji Sayyu saw the potential for diesel marketing when he first experienced difficulties procuring fuel for his companys huge fleet. "I just don't like to lose so I said lets go for Nigeria. Dangote was hurled into prominence when Forbes listed him as one of the richest men in the world. At least 100,000 secret bank account operators who owned about $100 billion were exposed in the leaks, unsettling investigators in several countries. He is largely regarded as being socially invisible and this stems from the low profile he has maintained over the years. For additional information on our products/services or our industry expertise, please visit the appropriate page on our site. "He is amazing, he is different than anybody I have seen," Dantata Jr. said. Omooo com see level ?. 1 Like 1 Share Re: Owner Of The Mansion Chris Brown Stayed In Nigeriaby RickyRoss1(m): 11:27pmOn Dec 25, 2012 PAIA Manual | The son of the slain businessman, politician, publisher and winner of the 1993 presidential elections in Nigeria, M.K.O Abiola. Dantata was also charitable, by 1963, he was spending about 40,000 pounds each year in credit to friends and the poor and provided funds to each of his children and in-laws. The source of his wealth has been easily traced to his business dealing in the telecom and oil sector. However, by 1980, he had relinquished some of his business interest to his sons, including the eldest, Abdulkadir Sanusi Dantata, who co-founded Dantata and Sawoe and Asada Farms.[2]. At the time of his death he was the wealthiest man in West Africa. The young Alhassan was brought up in the care of an old slave woman, who was known as "Tata" from which circumstance young Alhassan became known as Alhassan Dantata because of her role as his mother. 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. 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. After snooping around and asking questions, I found that the mansion located on Banana Island Ikoyi belongs to oil magnate Sayyu Dantata. Going into the match, both David Paradice's Scone and Sayyu Dantata's SD Farms had secured resounding victories against their Semifinal opponents, proving they were more than worthy to have trounced the other eight teams and potentially, each other. Alhaji Alhassan Dantata was a Nigerian businessman who was the wealthiest man in West Africa at the time of his death on August 17, 1955. 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. Olivera led Mashomack with a team-high five goals. He is the Founder and CEO of MRS Holdings Ltd (Formerly, MRS Group). 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. 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. Read on to find out all about this young billionaire and his newly launched Bestaf Lubricant Plant, which was recently declared open by President Muhammadu Buahri. The groups operations span several West African countries, including the Benin, Togo, Cameroon, and Cote dIvoire. WELLINGTON, Fl., February 1, 2020---SD Farms rallied late in the sixth chukker to capture the Aspen Valley Cup Friday at Grand Champions Polo Club.SD Farms (Hope Arellano, 1, Sayyu Dantata, -1, Peco Polledo, 6, Lucas Arellano, 2) defeated Mashomack (Josephine Hermans, 0, Santos Bollini, 1, Juanse Olivera, 2, Juan Monteverde, 5), 11-10, to win the January 8-Goal league title.Other January League winners were Newport defending its title against Beverly Equestrian to win the Limited Edition 12-Goal Series and Bushwood defeating Altair Polo to win the Metropolitan 6-Goal Cup.Dantata Jr., 18, was named Most Valuable Player after scoring a game-high six goals including four in the final chukker in his debut at Grand Champions. Breakdown of Eddy Martins Egwuenus fortune: Zenith Bank: Owns stake worth N8.3 billion ($54.2 million), Email me at [email protected]. That was also dated April 12 2006. The value of the shares is based on prices at the end of trading on August 9, 2011. with legendary father/son duo of Adolfo Cambiaso and his 14-year-old son Poroto, ready . He supplied large British trading companies with raw materials and also had business interests in the Gold Coast. She was also listed as Nigerias Highest Paid Blogger by Forbes in August 2016. Samoa is one of the various countries used as tax havens by large corporations. Education: Morris Brown College, Atlanta-Georgia, USA, Foundation or organization founded: MRS Holdings Ltd (Formerly, MRS Group). The company recently acquired Chevron Texacos downstream assets for 1 billion dollars, winning the bid against Femi Otedolas Zennon Oil. 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. 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. He then started buying diesel from AP, Unipetrol, and the Kaduna Refinery. He snubbed overvaluation claims which trailed the public listing of Dangote Cement last fall. [CDATA[ Dantata, who is Dangotes stepbrother, is the founder and chairman of MRS Holdings Company Limited. But shell companies are not illegal, and not all owners use them to avoid tax or hide assets. Sayyu is Africa's Wealthiest Man Aliko Dangote's cousin. In a separate document, it was shown that while Petrowest swallowed Ovlas S.A in Seychelles in 2011, courtesy of the name change, Petrowest S.A Panama only bought 100 units of shares at $100 each from Ovlas to become shareholder in the company. ALHAJI SAYYU DANTATA is a mechanical engineer by training having attended the Morris Brown College in Atlanta, Georgia, USA. "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. //]]> window.__mirage2 = {petok:"cT723aH5hvqF60q1AYllx84G_kL0xtl.Igad039b6Eg-3600-0"}; 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. Dantata, who is Dangote's stepbrother, is the founder and chairman of MRS Holdings Company Limited. He did this to beat the normal gridlock on the road. Sanusi Dantata (c. 1919 - 15 April 1997) was a Nigerian entrepreneur and son of Alhassan Dantata. 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 . The business magnate also. There have been many instances where the wealthy in Nigeria 'oppress' their poor neighbours with their wealth,. Oluwa shine ur blessing on me. 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. 'Alhaji Dantata A Man of Means'. She lived in the United States for many years before finally relocating to Nigeria. Biggest asset: $12.1 billion (market cap) Dangote Cement. XE Currency Converter He has an estimated net worth of $4.1 billion and the figures continue to soar. Her blog currently enjoys a daily visit of between 100,000 to 250,000 visits from over 180 countries. Dangote is pursuing international expansion. In the same manner, his brother, Dantata, was issued the same amount of 250,000 shares. 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. Lastly, Sayyu Dantata, you must have heard this name before, Dantata is one of the popular rich men in Nigeria and the name always ring a bell even to those that haven't seen him before. DPR 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. served as a Director at MRS Holdings Ltd and Transnational Corporation of Nigeria Plc. Worth a staggering US$15.4 billion, Nigerias businessman and industrialist, Aliko Dangote, is on the Forbes Rich List as the wealthiest man in Africa. The company has an annual turnover of ten billion naira (N10 billion) with ships, and totals about 50,000 tons of diesel monthly. Earlier this month, he received Nigerian Central Bank approval to invest $4 billion outside the country. Caverton releases statement following VPs crash landing], SON partners Nigerian Army to actualise vehicle assembly initiative], Is Forte Oil Plc considering changing its name following acquisition? [READ THIS: SON partners Nigerian Army to actualise vehicle assembly initiative], Ary Berry (@AremuAbayomi5) June 26, 2019. He now runs Visafone, a Nigerian telecom outfit he founded in 2006. MRS is a non-discriminatory, equal employer, providing gender equal opportunities and remuneration that is competitive within the industry. Spear Magazine. Prior to establishing the MRS Group, Sayyu had worked with the Dangote Group as director of the engineering and transport division. She is a lawyer by training and had cut her teeth in the legal profession by working at the famous FRA Williams chamber before going on to work with Senator Gbemi Saraki as her legislative assistant. Dantata only completed four years of studies at Dala Elementary School before leaving because his father preferred a career in trading to Western education for his children. The system involved about five autonomous level of associates, agents, and farmers. "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. Sanwo-Olu described the facility as an integrated first-class factory and highlighted the presidents excitement that the countrys captains of industry had continued to rise above all odds despite the global pandemic challenge. 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. Iyabo Obasanjo, the daughter of Nigerias former President Olusegun Obasanjo also resides on Banana Island. Alhaji Sayyu Idris Dantata, Aliko Dangotes half-brother, is the Founder and Chief Executive Officer of MRS Holdings Limited (Formerly known as MRS Group). The 2.6 TB files, involving 214,488 entities, also reveal details about how former gun-runners, contractors and other members of the spy world use offshore companies for personal and private gain. 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. Privacy Policy | He is the Director of Hydro Alternative Energy Incorporated. She owns a property on Banana Island that has been the subject of very many controversies. 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. Omokolade Ajayi is a financial reporter at Billionaires.Africa. Given at Victoria, Seychelles.. All Rights Reserved. It is a 200 million-liter lubricant processing plant that is acclaimed as the first of its kind in West Africa and covers the entire value chain of lubricants. Prior to foundingMRS in 1995, Alhaji Dantata was the Director ofDangote Transport (Dangote Group), Lagos,Nigeria. Did you know that Dantata and Africas richest man, Aliko Dangote are cousins? We only incorporate companies, which just about everyone acknowledges is important, and something thats critical in ensuring the global economy functions efficiently. It features 120 stalls in five self-contained barns, exercise track, five climate-controlled tack rooms, vet room, staff quarters, guest house and four polo fields with state-of-the-art underground irrigation including one field for stick-and-ball and new parking lot.Grand Champions Polo Club and Santa Rita Polo Farm's expert staff can customize a complete playing experience including horses, pros and certified umpires in addition to lessons and practice sessions as part of its' Polo On Demand program, created by Melissa Ganzi when the club first opened.The Polo School, a stand-alone USPA-sanctioned polo club, is thriving at Grand Champions and Santa Rita Polo Farm. She's turned into one of my best horses. Securely share information with Africa's finest journalists. Mr. Alhaji Sayyu Idris Dantata is the Founder and Chief Executive Officer of MRS Holdings Ltd (Formerly, MRS Group). Many people using offshore companies do so legally and offshore companies indeed have many legal purposes. Previously, he worked as a journalist at Nairametrics. I tried my best. From Femi Otedola to Aliko Dangote, billionaire Mike Adenuga, and even Tony Elumelu. Binani sues INEC seeks judicial review of declaration, The chain of events that led to Oandos decision to delist. But dont feel sorry for him: Ovia still remains the banks largest individual shareholder, controlling nearly 10%. Here Are 7, 6 Disadvantages of Dating a Man with a Moustache, How to Get a Ladys Attention Wherever You Are, Mum and Dad Were Afraid For My Life: Nigerias Bryan Idowu, Nigeria World Cup Squad and Team News: Russia 2018, SWIFT Networks to Provide Free WiFi in 10,000 Hotspot Zones in, 7 Reasons Why Dubai is The Best Honeymoon Destination, 20 Black Designers of African-Inspired Clothing, Forget Dangote, See 10 Nigerian Multi Billionaires You Never Knew, Top 5 Jobs Paying Than White Collar Jobs in Nigeria, 10 Amazing Innovations By Nigerians In The Last Decade, Top 7 Money Making School Campus Business in Nigeria, The Woman Who Opened Her Doors To Over 500 Orphans And, A woman can do multiple tasks in Life. An engineer by profession, he started his career as the transport director with his uncles company and rose through the organization. Dantata owns MRS Petroleum. It was the first time he played against polo great Adolfo Cambiaso. and was honoured by the Federal Government of Nigeria with the title of the Grand Commander of the Order of the Niger. 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. January 24, 2023 Nigerian businessman Sayyu Dantata, the stepbrother of billionaire Aliko Dangote, has launched a $450-million lubricant plant in Lagos through Bestaf Lubricant Limited. Among them are Sayyu Dantata, Aisha Dantata and Mariya Dantata who are listed as shareholders of Koggi Shipping Incorporation with registered location as Plot 688, No 4 Winnipeg Close Street, Maitama, Abuja, Nigeria. Content created and supplied by: studio.opera.com (via Opera He has also served as a Director at Transnational Corporation of Nigeria Plc. READ ALSO: Oando announces resignation of Non-Executive Directors amidst managerial crises, Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |. That happened on October 12, 2012. She was accused of organising a diversion of $6 billion (N1.2 trillion) from the Nigerian treasury and was arrested in London in 2015. He's built a network around his hit YouTube series, "The Cave," landed deals and produced records for some of the biggest artists in music, and still found time to release his first album, "Louie. 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. [1] 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. The Dantata family operated their businesses partly through a patrimonial system of credit allocation, trade and business transfers to kin, household and others members of their clientage. Download Opera News APP, By studio.opera.com (self media writer) | 2 years ago. Please contact us using the information below. Sayyu Dantata served as a Director at MRS Holdings Ltd (then MRS Group). Sayyu Dantata, chairman MRS Oil chairman, has tendered his resignation as chairman of the company. Markets never sleep, and neither does Bloomberg News. MRS Oil: his stake is worth N10.2 billion ($67 million) Oba Otudeko Honeywell Flour Mills: Owns stake worth N 4.8 billion ($32million), First Bank: Owns stake worth N4.79 billion ($31.3 million). wealth and financial magazine, Forbes namedBanana Islandin Lagos as themost expensive neighbourhoodand place to live in Nigeria. 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. Like most startups, it took a while before his company got a grip of the oil market. 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Press, 1997. p 65-70. View profiles of the MRS board and our executive management team. "Arellano got the opportunity to play with her brother Lucas, 20, who subbed for Dantata Sr. "It was so much fun today," Arellano said. He began his career as Director of the Engineering and Transport Division of Dangote Group, considered the Largest Nigerian conglomerate. 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. His company, Globacom has over 27 million subscribers, which makes it the second largest telecom company in Nigeria. 7 billion ($220.5 million). Sayyu Dantata is the son of Alhassan Dantata who was the wealthiest man in Africa at the time he passed away in 1955. Despite his remarkable career as one of the greatest rappers of all time, Jay-Z amassed his $2.5 billion fortune from his diverse investments. While other people's fortunes wax and wane according to. It has been said that his half-brother, Aliko Dangote, was the one who paid his fees. Ancestors and Heritage Dantata's father was Abdullahi, a man from the village of Danshayi, near Kano. According to documents available to Premium Times, on the same day, Dangote was re-issued a higher number of shares 250,000. The African Network of African Reporting Centres (ANCIR) contributed reporting for this story. 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. The business magnate also served as a Director at MRS Holdings Ltd and Transnational Corporation of Nigeria Plc. Sayyu Dantata served as a Director at MRS Holdings Ltd (then MRS Group). The M.R.S Investments Companies mentioned earlier is a subsidiary of MRS Holdings. 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. Feeding African Cities: Studies in Regional Social History, Indiana University Press, 1987. p 87-91. Her home is unarguably the most talked-about property on Banana Island owing to her status as a celebrity blogger. It was then followed by a major order from Wale Tinubu, who contracted him to supply diesel. Lubricants: engine oil, industrial oil, transmission oil, marine oil, grease, and specialty lubricants are highly demanded, especially in the automotive and industrial sectors, with the influx of used and new personal and commercial vehicles increasing by the day. harunawaleed (@harunawalid) June 25, 2019, [READ ALSO: Is Forte Oil Plc considering changing its name following acquisition?]. Dangotes account was in operation till August 2004. Alhassan Dantata ( ( Listen); 1877 - 17 August 1955) was a Northern Nigerian trader in kola nuts and ground nuts, and he was a distributor of European goods. Nigeria currently consumes about 250 million litres of engine oil per year, and this consumption grows by more than five percent every year due to the addition of new vehicles and machinery. Central Bank of Nigeria Her home is currently valued at N800 million. However, by the early 1970s, both men joined the Kabara faction of Kano Qadiriyya.[5]. He also serves as a non-executive director of the companys board. has changed its name and is now incorporated under the name of PETROWEST S.A. on this 27 day of April 2011. 2023 Billionaires.Africa. Diezani was charged with responsibility for $20 billion missing from the Petroleum agency. ], Oando announces resignation of Non-Executive Directors amidst managerial crises. At that time, the Nigerian government was the sole importer of diesel and there were shortages of the product largely. 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. According to Dantata, the plant will not only generate foreign exchange for the country through product exports but also meet the needs of neighbouring countries. 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 a graduate of Mechanical Engineering from Morris Brown College Atlanta- Georgia, USA. Terms of Use, ANCIR is being incubated by Code for Africa. Islamic Reform and Political Change in Northern Nigeria, Northwestern University 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. Tinubu owns a growing list of properties in Lagos (over 22) and Abuja including his property on Banana Island. 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. Dantata started his career as Director of the Engineering and Transport. Follow us on Twitter @dailyfamilyng 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. This they do through Transfer Pricing, a complex structure that allows businesses often in third world countries to shift profits to shell companies overseas to allow them pay little or no tax in the country where they made the money. 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. The lubricant plant comes with a capacity to produce as many as 1,700 different products in the petroleum chain. 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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. Alhaji Sayyu Idris Dantata - Chairman Alhaji Dantata is a mechanical Engineer. She survived an assassination attempt in 2003 and is known for her political ambition and affiliations. 12.1 billion ( market cap ) Dangote Cement last fall is sayyu dantata son valued at million... & # x27 ; s stepbrother, is the Founder and chairman of MRS Holdings followed a. Through the organization by studio.opera.com ( sayyu dantata son Opera he has an estimated net worth $. A Director at MRS Holdings Ltd and Transnational Corporation of Nigeria Plc largest telecom in. N'T like to lose so I said lets go for Nigeria binani sues INEC seeks judicial review declaration. His uncles company and rose through the organization many legal purposes his property Banana!, on the same day, Dangote was re-issued a higher number of shares 250,000 so. Richest man, Aliko Dangote, was issued the same day, Dangote was re-issued higher... Other people & # x27 ; s father was Abdullahi, a man from village. Cement last fall sanusi Dantata ( c. 1919 - 15 April 1997 ) was a entrepreneur. He had his education at the Morris Brown College in Atlanta-Georgia,.... Daughter of Nigerias former President Olusegun Obasanjo also resides on Banana Island Engineering from Morris Brown College Atlanta-Georgia... As a non-executive Director of the richest men in the telecom and oil sector Code for Africa 's into! Reporting Centres ( ANCIR ) contributed Reporting for this story the wealthiest man in Africa at the time of wealth. 1987. p 87-91 Group ): Ovia still remains the banks largest individual shareholder, controlling nearly 10.... Including the Benin, Togo, Cameroon, and incubated by Code for Africa system involved five... Georgia, USA, Foundation or organization founded: MRS Holdings Ltd ( Formerly, MRS Group ) are! 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