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. 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. An engineer by profession, he started his career as the transport director with his uncles company and rose through the organization. Sayyu Dantata is the son of Alhassan Dantata who was the wealthiest man in Africa at the time he passed away in 1955. Read the full response from Mossack Fonseca, African Network of African Reporting Centres. Did you know that Dantata and Africas richest man, Aliko Dangote are cousins? As part of a recompilation, Abbas returned the confiscated lands around Kano to the Agalawa families. 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 asked them not to allow the company to collapse. Leave Application 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. Nairobi-based entrepreneur Jit Bhattacharyas BasiGo to assemble 1,000 electric buses in Kenya, Egyptian businessman Hisham Talaat Moustafas group pledges $167 million toward community development. Given at Victoria, Seychelles.. Africa's Business Space At Your Finger Tips! 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 came from my dad and it was one of my dad's best horses forever," Arellano said. [5], Probably after being freed from slavery around 1894, Dantata joined a Gonja-bound caravan to see his mother. //]]> 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. Its illegal to market real estate in anything but naira.". He is a graduate of Mechanical Engineering from Morris Brown College Atlanta- Georgia, USA. Of the three condo developments, Ocean Parade is considered the most top-notch, she said, because of its many amenities, which include tennis courts, an Olympic-size pool, two gyms and childrens areas. Yusufu received his religious training from Qaadiriyya schools. His presence as a resident of Banana Island doesnt come as a surprise. (For religious reasons, his money collected no interest). Although Banana Islands main street offers little more than a caf, a barbershop and a large supermarket, chic shopping areas and restaurants on Victoria Island are only a 12-minute car ride away. Nigerians who live on Banana Island include a growing list of prominent Nigerians and expatriates who have incredibly deep pockets and can afford to spend millions of naira on a property. Dantata could not be reached. GB Auto is a Cairo-based automaker led by the family of the late Egyptian auto tycoon Raouf Ghabbour. She is the daughter of late Chief M.K.O Abiola. 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 . 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. 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. He implored them to continue to marry within the family as much as possible. The lubricant plant comes with a capacity to produce as many as 1,700 different products in the petroleum chain. Diezani was, however, not officially charged or tried for these allegations and has strongly denied any wrongdoing. He remained in Bebeji until matters had settled down. It is home to Arthouse Contemporary, a local auction house; the Wheatbaker hotel, which holds art exhibits and art-related events; and the Nigerian National Museum, which features the best in Nigerian art. Rated as a 2-goaler in the U.S., he saw some action on the field at IPC last season. Dantata serves as a Director of Hydro Alternative Energy, Inc. and has been a Non-Executive Director of Nigerian Telecommunications Limited since August 2008. "Victoria Island is like Manhattan," Ms. Nouboue said. 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. 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). We only incorporate companies, which just about everyone acknowledges is important, and something thats critical in ensuring the global economy functions efficiently. "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. For art, residents head to Ikoyi, which is five minutes away by car. PATRICE ALBERTI is currently the Vice Chairmanof MRS Group of Companies. It's definitely different playing mixed polo but I love it.". She was elected to the Nigerian Senate representing Ogun Central Senatorial District of Ogun State. 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. Tundun leads a largely quiet lifestyle with the exception of rare appearances at social events. is a great place to go on Friday nights," she said. 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. 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. A few other other allies of Dangote and Dantata were also flagged as shareholders in the shell companies used for their Panama deals. 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. ALHAJI SAYYU DANTATA is a mechanical engineer by training having attended the Morris Brown College in Atlanta, Georgia, USA. ALL RIGHTS RESERVED.1211 AVE OF THE AMERICAS NEW YORK, NY 10036 | info@mansionglobal.com. He was a director of the Nigeria branch of Shell B.P. Content created and supplied by: studio.opera.com (via Opera 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. But in an arrangement that seems curious, Dangote was issued a higher amount of shares 250,000 on the same day he resigned. Their company MRS Oil and Gas was re-issued 500,000 shares. Ikoyi also is a shopping destination. Sayyu Dantata, billionaire cousin of Africa's Richest person Aliko Dangote, has launched a $450 million lubricant plant in Lagos through Bestaf Lubricant Limited. DISCLAIMER: The currency conversion is provided for illustration purposes only. Her home is unarguably the most talked-about property on Banana Island owing to her status as a celebrity blogger. Many people using offshore companies do so legally and offshore companies indeed have many legal purposes. Africa's richest man, Aliko Dangote, and his brother Sayyu Dantata have been linked to shell companies in tax havens, writes Joshua Olufemi and Emmanuel Mayah. He began his career as Director of the Engineering and Transport Division of Dangote Group, considered the Largest Nigerian conglomerate. has changed its name and is now incorporated under the name of PETROWEST S.A. on this 27 day of April 2011. "Its elegant, and they invite the biggest DJs in the world. 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. Sayyu Dantata. Download Opera News APP, By studio.opera.com (self media writer) | 2 years ago. Mr. Onyenze said the islands security network, good roads, 24/7 street lighting and proximity to the waters of Lagos Lagoon make it special. He is the Founder and CEO of MRS Holdings Ltd (Formerly, MRS Group). 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 founder of Sanusi Dantata and sons limited. "Most of the owners of single-family homes live here full time, but they also have houses in the U.K. or the U.S..". window.__mirage2 = {petok:"NU1XWiS0aIgqL2kNAZJSViJcfj6ZI_mmTiSkiHqpr5Y-3600-0"}; In the same manner, his brother, Dantata, was issued the same amount of 250,000 shares. 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. 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. 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. We generally think that death is the equalizer of all men and that we will all answer to God. Shell companies, experts say, are entities that have no active businesses and usually exist only in names as vehicles for another companys business operations. The plant, located at the Bestaf Facility, was inaugurated by Nigerian President Muhammadu Buhari on Monday evening in the presence of Lagos State Governor Babajide Sanwo-Olu and other dignitaries. 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). Bollini scored the final goal with six seconds left. 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. She was also accused of awarding multi-billion Naira contracts without recourse to due process. "Banana Island is a piece of heaven in the middle of noisy Lagos," said Ms. Nouboue, adding that the island has two parks. 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. Before Dangote ceased to be shareholder of M.R.S Oil and Gas Limited, himself, Mr. Dantata and their co-owned company, M.R.S Oil and Gas Co. Limited, was used to buy shares in Petrowest S.A, another company registered in Seychelles on October 6, 2003. "A big set of people are tenants in the high-rises," Ms. Nouboue said. Earlier this year, Bestaf Funding secured $300 million (the same amount in question) in the form pre-export finance facility from PAC Capital Limited, the investment banking unit of . 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. 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. 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. 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. ", He said Banana Islands exclusivity always will remain attractive to "the highest echelon of the society.". Privacy Policy | 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. He did not own a house there, but was satisfied with the accommodation given to him by his patoma (landlord). Thank you for your interest in MRS Holdings Ltd. 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 200-million-liter lubricant plant is the first of its kind in West Africa and covers the entire value chain of lubricants. Alike Dangote's stepbrother Sayyu Dantata launches $450-million lubricant plant in Lagos. Swimming pools, Ms. Nouboue said, are quite popular. 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. From Femi Otedola to Aliko Dangote, billionaire Mike Adenuga, and even Tony Elumelu. That was also dated April 12 2006. He purchased some items in Bebeji, he sold half of them on the way and the rest in Accra. To keep reading for free, please enter your email! He graduated in 1979 with a Bachelor of Science degree in Accounting and has been said to have a net worth of N10 trillion. She was also listed as Nigerias Highest Paid Blogger by Forbes in August 2016. [2] It is said[by whom?] Delivers the most important property news around the world to your inbox each weekday. 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. He holds aBachelors degree in Economics from the ParisAcademy and has been with the MRS Groupsince 2004. . Ms. Nouboue said that Eko Atlantic City, a 10-district, 10-square-kilometer luxury high-rise community being constructed on Victoria Island on land reclaimed from the Atlantic Ocean, has created a sea change in the Banana Island market even though only the first buildings have been completed. More:Comporta, a Portuguese Village Where the Well-Heeled Go for Some Privacy. The dividend payment will result in the family receiving EGP237.8 million ($7.76 million) from their 56.58-percent stake in the company. 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. He was also a good financial manager. [citation needed], By 1922 Dantata had become the richest businessman in Kano, surpassing other merchant traders. She owns a property on Banana Island that has been the subject of very many controversies. MRS Holding particularly popped up regularly as multiple shareholder company for other companies linked to Dangote and Dantata in Panama. He was particularly concerned about the company he had established (Alhassan Dantata & Sons). 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. It will not be slowed down in perpetuity. Prior to founding MRS in 1995, Alhaji Dantata was the Director of Dangote Transport (Dangote Group), Lagos, Nigeria. That remains unclear. 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. Expect to see much more of him this year. As a result, LVMHs pursuit of Cartier may not yield the expected outcome. He began his career as Director of the Engineering and Transport Division of Dangote Group, considered the Largest Nigerian conglomerate. For additional information on our products/services or our industry expertise, please visit the appropriate page on our site. 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. Dangote was hurled into prominence when Forbes listed him as one of the richest men in the world. 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. His net worth has never been successfully estimated given his extremely private life and business dealings. Prior to foundingMRS in 1995, Alhaji Dantata was the Director ofDangote Transport (Dangote Group), Lagos,Nigeria. They are frequently used to shield the identities of owners and/or to hide money. According to documents available to Premium Times, on the same day, Dangote was re-issued a higher number of shares 250,000. 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.. Because we do, we have not once in nearly 40 years of operation been charged with criminal wrongdoing. 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. 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. Oriental Weavers is a leading carpet manufacturer and distributor. 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. Residents also are attracted to the high-tech infrastructure on the island thats not available in the rest of the country. Pinterest. 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. 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. [1][2] He is the great-grandfather of Aliko Dangote, the wealthiest person in Nigeria and Africa. Accommodation given to him by his patoma ( landlord ) ( self media writer ) 2! Polo but I love it. `` News APP, by 1922 Dantata had become the richest men the..., Dangote was re-issued 500,000 shares contracts without recourse to due process hide money `` Island. In Panama he holds aBachelors degree in Economics from the ParisAcademy and has been with the given! Important property News around the world to your inbox each weekday Nouboue said who was the wealthiest person in and... Reporting Centres officially charged or tried for these allegations and has been with the MRS Groupsince 2004. due process as! To your inbox each weekday from Morris Brown College in Atlanta, Georgia, USA was listed... 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