It is interesting to note that aside from lubricants, the plant also has other production sections for the production of items such as printed labels, PET and HDPE bottles, aerosol and homecare products. Others like Sayyu Dantata however are the new kids on the block. Nigerian businessman Sayyu Dantata, the stepbrother of billionaire Aliko Dangote, has launched a $450-million lubricant plant in Lagos through Bestaf Lubricant Limited. 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. How Billionaire Sayyu Dantatas $450 Million Bestaf Lubricant Plant Will Impact Nigerias Economy, Medview Airline to buy two CRJ-900 Bombardier aircrafts on lease, Expert Discusses Biggest Challenges Facing HMOs in Nigeria and possible Solutions, Buhari to Get Copy of 2018 Budget this Week House of Reps, USAID COMMITS ADDITIONAL $7 MILLION TO COMBAT EBOLA, AfDB, others Commit to Joint Action to Speed up Special Agro-Industrial Processing Zones in Africa. Dantata built his first house in the then empty Sarari area (an extension of Koki) in Kano. 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. The Worlds Best Cross-BorderInvestigative Team, ANCIR is not responsible for the content of external sites | He is a graduate of Mechanical Engineering from Morris Brown College Atlanta- Georgia, USA. 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. Dantata and his brothers were held for ransom, under the threat of slavery. More:Marshan Offers the Very Best of Tangiers Enduring Allure. In 2015, her net worth was estimated to be between N1.5 billion and N2 billion. Afrex Sal is a client company for Dantata and Dangotes Ovlas Trading based in Monaco France. It will not be slowed down in perpetuity.". There, Tata continued to insist that he must save something every year[citation needed], Dantata started to be a long-distance trader himself. 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. Dantata did not manage from behind a desk but involved himself with his workers. He is largely regarded as being socially invisible and this stems from the low profile he has maintained over the years. It has the power to change the world.. 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. He traded in cattle, cloth, beads, precious stones, grains, rope and other things. is a great place to go on Friday nights," she said. Sayyu Dantata is the billionaire cousin of Alhaji Aliko Dangote, Africas richest man and Chairman of the Dangote Group. Built on a beach, it has water views and roads like those in the U.S. However, it was not granted because of worldwide military and economic conditions. 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The virus swept through Chinas major financial centers and hubs, such as Shanghai, leading to lockdowns that impacted millions of people. As an entrepreneur and billionaire owner of Globacom, Nigerias second-largest telecom company, Mike Adenuga is a man with luxurious tastes. Oriental Weavers is a leading carpet manufacturer and distributor. Prior to founding MRS in 1995, Alhaji Dantata was the Director of Dangote Transport (Dangote Group), Lagos, Nigeria. ALHAJI SAYYU DANTATA is a mechanical engineerby training having attended the Morris BrownCollege in Atlanta, Georgia, USA. 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. It also offers status. Linkedin. 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. Some of those named in that global investigation were found to have concealed their identities for years and using codes perhaps to shake off tax authorities from accounts, some of which held illicit assets from criminals, traffickers, arms dealers and other outlaws. Dantata, who is one of Dangote's cousins, is the founder and chairman of MRS Holdings Company Limited. "Victoria Island is like Manhattan," Ms. Nouboue said. In providing those services, we follow both the letter and spirit of the law. But shell companies are not illegal, and not all owners use them to avoid tax or hide assets. 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. The dividend payment will result in the family receiving EGP237.8 million ($7.76 million) from their 56.58-percent stake in the company. Thank you for your interest in MRS Holdings Ltd. [citation needed], In 1906, he began broadening his interests by trading in beads, necklaces, European cloth, and trade goods. 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. All Rights Reserved. When Banana Island was built nearly two decades ago, there was no other luxury spot like it in Nigeria, but it now has competition. 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. 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. 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. DPR 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. Despite several documents linking Dangote to those offshore companies, the businessmans spokesperson insisted he never had any relationship with the offshore entities. The son of the slain businessman, politician, publisher and winner of the 1993 presidential elections in Nigeria, M.K.O Abiola. ALL RIGHTS RESERVED.1211 AVE OF THE AMERICAS NEW YORK, NY 10036 | info@mansionglobal.com. That happened on October 12, 2012. ", COPYRIGHT 2023 MANSION GLOBAL. Additionally, the company is developing a pricing strategy with alternative product offerings. Kola Abiola is one of Nigerias low-key millionaires. Apartment buildings, Mr. Onyenze said, come fully stocked with amenities that include fitted kitchens, walk-in-wardrobes, intercom systems, security surveillance systems and standby generators. However, in recent years the founder of MRS Holdings has been spick and spank. We only incorporate companies, which just about everyone acknowledges is important, and something thats critical in ensuring the global economy functions efficiently. 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. ", 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. Buyers have a choice of two- to four-bedroom en-suite flats, maisonettes and terrace houses, added Charles Onyenze, an associate at Knight Frank. Corlay Global S.A. and SID Holdings Group are among other companies owned by MRS Holdings and Dantata. Grand Champions Polo Club13444 South Fields RoadWellington, FL 33414. 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. - 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. "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. [citation needed], Dantata was still a teenager when the great upheavals occurred in the Kano Emirate from 1893 to 1895. In addition to Nigerias wealthiest people, Banana Island draws a variety of ex-pats from the United States, Britain, Lebanon, India and France. Her favorite restaurants include NOK by Alara, which serves new African cuisine; Z Kitchen, which offers succulent steaks; and R.S.V.P., which specializes in international dishes. He used the new trade routes to Ibadan and Lagos to develop his network of trading associates. He is the Founder and CEO of MRS Holdings Ltd (Formerly, MRS Group). The newer ones are more modern, with straight angles, and they are less elongated because they are on less land. Of this, the facility is expected to deliver about 200 million litres of lubricant per year. Consciously or unconsciously the essence of everything we do in life is to derive or to attain fullness of happiness. [3] Abdullahi died in Bebeji around 1885. He is the Founder and CEO of MRS Holdings Ltd (Formerly, MRS Group). As a result, LVMHs pursuit of Cartier may not yield the expected outcome. 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. Shell companies constitute some of the darkest, sometimes convoluted, corridors in global illicit finance. They include Lagos Preparatory & Secondary School, a co-ed day school for students 18 months old to over 16 years; the British International School, a British curriculum secondary school for students 7 through 13 years old that offers a boarding option; and St. Saviours, a British curriculum school for children up to 6 years of age. At the time of his death he was the wealthiest man in West Africa. Content created and supplied by: studio.opera.com (via Opera Despite experiencing a single-digit 5.2-percent decrease in revenue during the review period, the groups profit skyrocketed by an astounding 496 percent, surging from EGP 1.77 billion ($57.8 million) in 2021 to EGP 10.54 billion ($344.2 million) in 2022. Their company MRS Oil and Gas was re-issued 500,000 shares. "I love it. Mossack Fonseca has, however, in a statement to ICIJ denied wrongdoings, saying, as a registered agent, it merely helps incorporate companies, and that before agreeing to work with a client in any way, it conducts a thorough due-diligence process, one that in every case meets and quite often exceeds all relevant local rules, regulations and standards to which we and others are bound.. The significant decline in the companys profits can be primarily attributed to the surge in raw material costs, including wool, polypropylene, backing, and finishing materials. ", More:Fiesole, Italy, Offers a Village Feel Just Outside Florence. Polo has long been a passion for Dantata, who is known to be low-key despite his wealth. The source of his wealth has been easily traced to his business dealing in the telecom and oil sector. Because shell companies are at times associated with fraud, their activities are of big concerns to international bodies such as the Organisation for Economic Co-operation and Development (OECD). 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. 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. [4] Because of the Agalawa support of Tukur, Dantata and the other Agalawa had their property confiscated and many were captured. In line with its strategy to solidify its leadership position across various sectors, the Cairo-based automaker, owned by the family of the late Egyptian auto mogul, announced earlier this year its plans to rebrand to GB Corp.. Below is a list of 9prominent Nigerians who live on Banana Island as well as those who own properties on it. 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. Some descendants of Alhassan Dantata includes: "Alhaji Alhassan Dantata, An Appreciation", "Biography of Select Kano Merchants, 18531955", "Alhassan Dantata: Things You Didn't Know About Him", "Meet the wealthy but simple Nigerian merchant behind Dangote's success story", "Biography of Select Kano Merchants, 1853-1955", "Nigerian Tycoon Abdulkadir Dantata Is Dead", https://en.wikipedia.org/w/index.php?title=Alhassan_Dantata&oldid=1135608976, Mahmud Dantata, popularly known as Mamuda Wapa (19221983): son. The island also has three prominent condo developments: Ocean Parade Towers, Bella Vista Towers and Lakepoint Apartments. Despite this challenge, the management team is focused on enhancing the companys global market position. 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. Oyekunle is a shareholder of Sunningdale Assets, S.A, a company that also shares same registered location with MRS Holdings Limited at Plot 70 Sharada Industrial Area, Phase 3 Kano, Nigeria. Sayyu Dantata is the billionaire cousin of Alhaji Aliko Dangote, Africa's richest man and Chairman of the Dangote Group. 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. This innovation and contact with Europeans helped establish his wealth and future. 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. Central Bank of Nigeria This literary means they resold the shares back to themselves. Yusufu received his religious training from Qaadiriyya schools. PPPRA Yusufu had been passed over when Bello became Emir. MARCO STORARI manages all aspects of oil storage terminalsoperations at MRS Terminals in West Africa which is over 350,000m3 storage depots. ", He said Banana Islands exclusivity always will remain attractive to "the highest echelon of the society.". "Banana Island is a piece of heaven in the middle of noisy Lagos," said Ms. Nouboue, adding that the island has two parks. 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. Dantata was born 1877 in Bebeji, Kano Emirate in the Sokoto Caliphate, one of several children of Abdullahi and his wife, Amarya. Securely share information with Africa's finest journalists. His mother, who had never remarried, died in Accra around 1908. 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. And nearly every house has a gym, she added. We thank you for upholding the principal ethics in journalism when in doubt, check. founder and chairman of MRS Holdings Company Limited, nine-month period ending December 31, 2022. He began his career as Director of the Engineering and Transport Division of Dangote Group, considered the Largest Nigerian conglomerate. Tumblr. 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. [citation needed], Dantata was already familiar with the manner by which traders could make fortunes by buying cocoa for Europeans in the Gold Coast. 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 . She left the children in Bebeji, in the care of an old slave woman named Tata. But he said that hes optimistic that "the economy will improve. "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. Over the past few years, her net worth has been a subject of heated debate. Dantata, who is Dangotes stepbrother, is the founder and chairman of MRS Holdings Company Limited. Amarya, like her mother-in-law, was a trader of wealth in her own right. They should take care of their relatives, especially the poor among them. Because we do, we have not once in nearly 40 years of operation been charged with criminal wrongdoing. Were proud of the work we do, notwithstanding recent and willful attempts by some to mischaracterize it.. For additional information on our products/services or our industry expertise, please visit the appropriate page on our site. AMINA MAINA oversees all trading, supply, and operations of thegroups activities spanning over 6 countries, including Nigeria. Ikoyi also is a shopping destination. Dantata worked harder in Ghana than he did in Bebeji. 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. SD Farms Wins Aspen Valley Cup At Grand Champions; Sayyu Dantata Jr. 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. "I just don't like to lose so I said lets go for Nigeria. The 1.63-million-square-meter sand-filled island in Lagos Lagoon is a little more than 5 miles east of Tafawa Balewa Square, the commercial and ceremonial heart of Lagos. Its illegal to market real estate in anything but naira.". 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. 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. Nigerian is a Nigerian politician and the first female President of OPEC. ", More:Click for more profiles of high-end neighborhoods around the world. Amina has worked in various strata in the oil and gas industry,some of which include retail and marketing, terminal andshipping operations, financial reporting and strategy formulationfor various business entities such as, Marc Rich Investments Ltd,Aurora Energy amongst others. Worth a staggering US$15.4 billion, Nigeria's businessman and industrialist, Aliko Dangote, is on the Forbes Rich List as the wealthiest man in Africa. [citation needed], In 1918, the UK-based Royal Niger Company (later became the United Africa Company) searched for an agent to purchase groundnuts for them, and Dantata responded to their offer. Tundun leads a largely quiet lifestyle with the exception of rare appearances at social events. February 8, 2023 Important Sales Tips for Selling an Old Home; February 6, 2023 Essential Tips for Dealing with Difficult Landlords; February 5, 2023 He did not own a house there, but was satisfied with the accommodation given to him by his patoma (landlord). Alhaji Dantata started his career as Director of the Engineering and Transport Division of Dangote . Bollini scored the final goal with six seconds left. MRS Holding particularly popped up regularly as multiple shareholder company for other companies linked to Dangote and Dantata in Panama. "They are very ostentatious and have nice gardens. To keep reading for free, please enter your email! His net worth has never been successfully estimated given his extremely private life and business dealings. (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. The groups sales have surpassed 15 billion ($16.3 billion), up from 12.77 billion ($13.9 billion) during the same period last year, showcasing substantial growth. Anil Kumar Ahluwalia, whose company name is Santosh Investment Limited S.A is connected to a Panama shell company called Lotus Trust Services Sarl. Diezani was charged with responsibility for $20 billion missing from the Petroleum agency. 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. 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). Basically, the [] ", Mr. Onyenze remains convinced that the "real estate market looks promising in the future, as there are visible signs of massive development in progress. He told them that his days were approaching their end and advised them to live together. One of the greatest mistake people make is to think that happiness can be . "She came from my dad and it was one of my dad's best horses forever," Arellano said. 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. [1][2] He is the great-grandfather of Aliko Dangote, the wealthiest person in Nigeria and Africa. Nigeria, Africas most populous nation, is home to some of the richest men on the continent. 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. Every time I see horses I just want to go and spend time with them. Mr. Onyenzeconceded that prices have dropped about 30% in the lastthree-and-a-half years because of a combination of factors, including the devaluation of the naira, decreased prices for crude oil, inflation, high interest rates, job cuts and divestment by multinational organizations from the Nigerian economy. Dantata is the founder and chairman of MRS Holdings Company Limited. "I won my debut, that's a good thing. Bola Ahmed Tinubu popularly known asJagabanis a former Lagos State Governor (1999-2007) and astute politician. 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