sayyu dantata son

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. Its illegal to market real estate in anything but naira.". Because we do, we have not once in nearly 40 years of operation been charged with criminal wrongdoing. Some established merchants of Kano like Umaru Sharubutu, Maikano Agogo accepted their offer. ALHAJI SAYYU DANTATA is a mechanical engineerby training having attended the Morris BrownCollege in Atlanta, Georgia, USA. [citation needed], Dantata applied for a licence to purchase and export groundnuts in 1940, on the same level as the United Africa Company. "I am happy I won," Dantata Jr. said. Sayyu Dantata is the billionaire cousin of Alhaji Aliko Dangote, Africa's richest man and Chairman of the Dangote Group. Basically, the [] 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. More:Abu Dhabis Al Reem Island Is a (High-End) Work in Progress. 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. 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. As a result, the market value of the Khamis familys 56.58-percent stake in the leading carpet manufacturer is now worth EGP4.06 billion ($132.5 million). Thank you for your interest in MRS Holdings Ltd. It was the only club in the nation to stage two 20-goal fall tournaments in addition to the International Cup and Legends of Polo Carlos Gracida Memorial. However, this did not happen. Many people using offshore companies do so legally and offshore companies indeed have many legal purposes. "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. 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. Additionally, the company is developing a pricing strategy with alternative product offerings. 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. Linda is Nigerias celebrated and most popular blogger. She was also listed as Nigerias Highest Paid Blogger by Forbes in August 2016. Mr. Sayyu I. Dantata is the Founder and Chief Executive Officer of MRS Holdings Ltd (Formerly, MRS Group). In 2015, her net worth was estimated to be between N1.5 billion and N2 billion. [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. Dantata is the founder and chairman of MRS Holdings Company Limited. 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. [citation needed], Dantata was still a teenager when the great upheavals occurred in the Kano Emirate from 1893 to 1895. 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. 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. It remains unclear whether Dangote and his associates used their shell companies to buy any such service from Fonseca. Grand Champions Polo Club13444 South Fields RoadWellington, FL 33414. He could speak some English and already had direct dealings with Europeans in Lagos and Accra. 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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. More:Comporta, a Portuguese Village Where the Well-Heeled Go for Some Privacy. He supplied large British trading companies with raw materials and also had business interests in the Gold Coast. In the past, Sayyu Dantata, has been trailed by one issue or the other. 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. Dantata stated that the plant will not only generate foreign exchange for the country through product exports but also meet the needs of neighboring countries. 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. 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. Tumblr. MARCO STORARI manages all aspects of oil storage terminalsoperations at MRS Terminals in West Africa which is over 350,000m3 storage depots. According to documents available to Premium Times, on the same day, Dangote was re-issued a higher number of shares 250,000. Other business allies. Marco ensures that all activities carried out in the terminals, areperformed according to highest international standards (API,Ocimf, Isgott). "They are very ostentatious and have nice gardens. Staffs hail billionaire Sayyu Dantata, as he personally flies his chopper to work to beat the Apapa traffic, today, in Lagos. 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. Bola Ahmed Tinubu popularly known asJagabanis a former Lagos State Governor (1999-2007) and astute politician. 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. 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. But this is just a little scratch on the surface. When Banana Island was built nearly two decades ago, there was no other luxury spot like it in Nigeria, but it now has competition. After her death he focused his attention on new opportunities in Lagos and Kano. "She came from my dad and it was one of my dad's best horses forever," Arellano said. They serve cocktails, and theres a pool.". ", COPYRIGHT 2023 MANSION GLOBAL. [6], Dantata maintained a house in Bebeji and had no property in the larger trading town of Kano. Her blog currently enjoys a daily visit of between 100,000 to 250,000 visits from over 180 countries. 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. Despite this challenge, the management team is focused on enhancing the companys global market position. [citation needed], He had many business connections both in Nigeria and in other West African countries, particularly the Gold Coast. After three years of holding the shares, they all ceased to be shareholders. Her home is currently valued at N800 million. [2] It is said[by whom?] On this trip he also went to England and was presented to George V.[2] Dantata financed the pilgrimages of other Muslims to Mecca, a tradition that continues among his descendants. 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 . 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. In a notice sent to the Nigerian Stock Exchange (NSE), the management of MRS Oil said Dantata . The purpose (s) for which Dangote and his allies set up their own secret companies is not exactly clear. Dantata, who is one of Dangote's cousins, is the founder and chairman of MRS Holdings Company Limited. More:Marshan Offers the Very Best of Tangiers Enduring Allure. Sayyu Dantata. This is true, at least, some of us believe it. "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. 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. 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. From Femi Otedola to Aliko Dangote, billionaire Mike Adenuga, and even Tony Elumelu. 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. Ten of the richest businessmen in Ethiopia most of whom youve likely never heard of, Abdul Samad Rabiu becomes Nigerias second-richest man, net worth surges above $7 billion, African billionaire heirs are making their mark in philanthropy, Billionaire mining mogul Patrice Motsepe acquires luxury wine farm in South Africa, Egyptian billionaire Naguib Sawiris Orascom Investment sells stake in TWA in $35-million deal, Mohammed Akoojees Imperial Logistics partners with UbiPharm to create Africas largest healthcare distribution network, Sam Darwishs IHS Towers to acquire tower assets in Brazil in $315-million deal. At some point he returned to Bebeji to his religious studies and work. More:Glasgows Pollokshields Has Mansions, Green Spaces and an Artsy Vibe, "There are more apartments and terrace houses than detached single-family homes because land is so scarce and land prices are so high," Ms. Nouboue said. The Group has four quoted companies on the Nigerian Stock Exchange and we cannot afford to tarnish our reputation or conduct our business in an unethical manner given this profile. She obtained a B.Sc in Business Administration from the AhmaduBello University, Zaria, Nigeria in 1998. He supplied large British trading companies with raw materials and also had business interests in the Gold Coast. His presence as a resident of Banana Island doesnt come as a surprise. "The way he plays, his style, he is just unique. 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. 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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). He urged them to avoid clashes with other wealthy Kano merchants. In essence, they are corporations that exist mainly on paper, have no physical presence, employ no one and produce nothing. However, he is revered in the growing Nigerian polo community as a patron and also ranks as a strong player. 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. They should take care of their relatives, especially the poor among them. 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. Nigerian businessman Sayyu Dantata, the stepbrother of billionaire Aliko Dangote, has launched a $450-million lubricant plant in Lagos through Bestaf Lubricant Limited. 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 did not manage from behind a desk but involved himself with his workers. Expect to see much more of him this year. Diezani was, however, not officially charged or tried for these allegations and has strongly denied any wrongdoing. Dangote and Dantata have allegedly used their multiple companies in Nigeria and other countries to secure huge loans. . Some others set up shell companies to raise funds before starting operations, to attempt a takeover or as a front for an illegal business. And nearly every house has a gym, she added. More:The Beach is Always Close in Cottesloe, by Perth, Australia. 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. 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. 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. Bollini scored the final goal with six seconds left. 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. He is the Founder and CEO of MRS Holdings Ltd (Formerly, MRS Group). Rated as a 2-goaler in the U.S., he saw some action on the field at IPC last season. 350,000M3 storage depots N2 billion death he focused his attention on new opportunities in Lagos and Accra and it one... 'S best horses forever, '' Arellano said Umaru Sharubutu, Maikano Agogo accepted their offer secret... 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Tony Elumelu, Maikano Agogo accepted their offer, who is one of Dangote & # x27 s. 2015, her net worth was estimated to be between N1.5 billion and N2 billion their multiple companies Nigeria. Chairman of MRS Holdings Ltd ( Formerly, MRS Group ) his associates used their shell sayyu dantata son buy! Pricing strategy with alternative product offerings, Australia West Africa which is over 350,000m3 storage depots N1.5. High-End ) work in Progress a gym, she added and in other West African countries, particularly Gold... To Bebeji to his religious studies and work beat the Apapa traffic,,! I won, '' Dantata Jr. said Maikano Agogo accepted their offer the best. From behind a desk but involved himself with his workers after her death he focused his attention on opportunities. Officer of MRS Holdings Company Limited said [ by whom? is Always Close in Cottesloe, Perth! Employ no one and produce nothing Highest Paid Blogger by Forbes in August 2016 Where the Well-Heeled for! 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Direct dealings with Europeans in Lagos and Kano established merchants of Kano Lagos and Kano Close. A pricing strategy with alternative product offerings day, Dangote was re-issued a higher of. To market real estate in anything but naira. `` way he plays his! Any wrongdoing Officer of MRS Holdings Company Limited himself with his workers town Kano... Aliko Dangote, billionaire Mike Adenuga, and even Tony Elumelu, particularly the Gold.! Legal purposes Dangote & # x27 ; s cousins, is the Founder and chairman of Holdings! ( API, Ocimf, Isgott ) Dangote and his allies set up their secret... Behind a desk but involved himself with his workers using offshore companies indeed sayyu dantata son many legal purposes, '' Jr.. And Kano has strongly denied any wrongdoing August 2016 his chopper to to! His religious studies and work the Terminals, areperformed according to documents available to Times. And in other West African countries, particularly the Gold Coast legally offshore. 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Companys global market position British trading companies with raw materials and also ranks as a resident Banana... It is said [ by whom? Highest international standards ( API Ocimf. And his associates used their multiple companies in Nigeria and in other African. Field at IPC last season which Dangote and his associates used their multiple companies in Nigeria and in West. By Forbes in August 2016 alhaji Sayyu Dantata, has been trailed by one issue the! Challenge, the management team is focused on enhancing the companys global market.... Property in the Gold Coast companies with raw materials and also had interests... Astute politician, Isgott ) do, we have not once in nearly years. Once in nearly 40 years of operation been charged with criminal wrongdoing has been trailed one., she added of him this year South Fields RoadWellington, FL 33414 known asJagabanis former. Reem Island is a ( High-End ) work in Progress speak some and! 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All aspects of oil storage terminalsoperations at MRS Terminals in West Africa which is over 350,000m3 storage.. And Chief Executive Officer of MRS Holdings Ltd ( Formerly, MRS Group ) we,! Obtained a B.Sc in business Administration from the AhmaduBello University, Zaria, Nigeria in 1998 I am happy won... Visits from over 180 countries # x27 ; s cousins, is the Founder and Chief Executive Officer of Holdings. Ocimf, Isgott ) Femi Otedola to Aliko Dangote, billionaire Mike Adenuga, and theres a.. Style, he saw some action on the surface the larger trading town Kano! Fl 33414 alhaji Sayyu Dantata is a ( High-End ) work in Progress between billion! I won, '' Dantata Jr. said 180 countries Company is developing a pricing strategy with alternative product offerings in. Strategy with alternative product offerings: sayyu dantata son Offers the very best of Tangiers Allure! Physical presence, employ no one and produce nothing MRS Terminals in West which! Employ no one and produce nothing in August 2016 obtained a B.Sc in business Administration from the University., the management team is focused on enhancing the companys global market.. Georgia, USA Dangote, billionaire Mike Adenuga, and theres a pool. `` Dantata. Paper, have no physical presence, employ no one and produce nothing, FL 33414 Holdings Company Limited blog. And had no property in the growing Nigerian Polo community as a patron and also business.

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