He holds aBachelors degree in Economics from the ParisAcademy and has been with the MRS Groupsince 2004. The source of his wealth has been easily traced to his business dealing in the telecom and oil sector. 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. There have been many instances where the wealthy in Nigeria 'oppress' their poor neighbours with their wealth,. Nigerian is a Nigerian politician and the first female President of OPEC. Ovlas Trading is co-owned by Sayyu Dantata and Patrice Alberti in the name of Ovlas Trading S.A., for 75 shares with a par value of US$ 100,00 each; and in the name of Karbelina Investments LLC, for 25 shares with a par value of USS 100,00 each. Alhaji Sayyu Idris Dantata - Chairman Alhaji Dantata is a mechanical Engineer. Dangote plans to channel the funds into the construction of a new cement manufacturing facility in Cote DIvoire. Alhaji Dantata is a mechanical Engineer. 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 now runs Visafone, a Nigerian telecom outfit he founded in 2006. In its suit, Union Bank alleged that in a bid to evade payment of the loan, Sani Dangote made efforts to deplete funds in his accounts by diverting them to Dubai, Canada and Switzerland. Marco ensures that all activities carried out in the terminals, areperformed according to highest international standards (API,Ocimf, Isgott). 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. 1 Like 1 Share Re: Owner Of The Mansion Chris Brown Stayed In Nigeriaby RickyRoss1(m): 11:27pmOn Dec 25, 2012 The commodities titan reigns supreme in Nigerias capital markets. 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. Sayyu Dantata acquired a majority stake in MRS Oil Plc in March 2009 through a shell company Corlay Global SA. I love her. Grand Champions Polo Club13444 South Fields RoadWellington, FL 33414. They have had to buy diesel from foreign firms who were then receiving allocations despite having no offices of their own in the country. It was the first time he played against polo great Adolfo Cambiaso. 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 recently acquired Chevron Texacos downstream assets for 1 billion dollars, winning the bid against Femi Otedolas Zennon Oil. It was a super fun team. Because we do, we have not once in nearly 40 years of operation been charged with criminal wrongdoing. He then started buying diesel from AP, Unipetrol, and the Kaduna Refinery. 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. [READ MORE: Caverton releases statement following VPs crash landing], Staff hail billionaire #SayyuDantata, as he personally flies his chopper to work to beat the #Apapa traffic, today, in Lagos, A post shared by Instablog9ja (@instablog9ja) on Jun 25, 2019 at 12:00pm PDT. The MRS Group had just three staffers at its inception, but today boasts of about two thousand (200) employees on its payroll. But dont feel sorry for him: Ovia still remains the banks largest individual shareholder, controlling nearly 10%. After three years of holding the shares, they all ceased to be shareholders. Despite several documents linking Dangote to those offshore companies, the businessmans spokesperson insisted he never had any relationship with the offshore entities. He is a graduate of Mechanical Engineering from Morris Brown College Atlanta- Georgia, USA. Content created and supplied by: studio.opera.com (via Opera Breakdown Of Sayyu Dantatas NSE Fortune, MRS Oil: his stake is worth N10.2 billion ($67 million), Source: Honeywell Flour Mills, First Bank. 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. According to internal data of the Panama-based offshore-provider, Mossack Fonseca, obtained by the German newspaper Sddeutsche Zeitung and shared by the International Consortium of Investigative Journalists (ICIJ), Dangote, his relative, Sayyu Dantata, as well as his business allies have over the years used shell companies domiciled in controversial tax havens in their business transactions. He began his career as Director of the Engineering and Transport Division of Dangote Group, considered the Largest Nigerian conglomerate. //]]> 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. The horses make you love them. Business career [ edit] Owners create Shell companies for a host of dodgy business reasons. He used the inheritance to revive his transport and lorry business. In a notice sent to the Nigerian Stock Exchange (NSE), the management of MRS Oil said. window.__mirage2 = {petok:"cT723aH5hvqF60q1AYllx84G_kL0xtl.Igad039b6Eg-3600-0"}; 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. "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. Tinubu owns a growing list of properties in Lagos (over 22) and Abuja including his property on Banana Island. founder and chairman of MRS Holdings Company Limited, Egyptian businessman Hisham Talaat Moustafas group pledges $167 million toward community development, Nairobi-based entrepreneur Jit Bhattacharyas BasiGo to assemble 1,000 electric buses in Kenya, How Jay-Z made his money: Four deals that propelled his net worth to $2.5 billion, Transcorps market cap up by $55 million following Femi Otedolas acquisition, Aliko Dangote hits $20-billion net worth, joining elite ranks of worlds billionaires, James Mwangis Equity Group invests $76.7 million in Congo unit, Segun Agbaje-led GTCO records $367.4-million profit in 2022. Given at Victoria, Seychelles.. 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. 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. 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]. He supplied large British trading companies with raw materials and also had business interests in the Gold Coast. Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. (1963). I tried my best. Dangote has been repeatedly listed by Forbes for his wealth. Over the past few years, her net worth has been a subject of heated debate. Omokolade is a seasoned financial analyst and reporter with in-depth knowledge of and expertise in equity markets, and financial and economic analysis. His presence as a resident of Banana Island doesnt come as a surprise. 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. Afrex Sal is a client company for Dantata and Dangotes Ovlas Trading based in Monaco France. 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. Bollini scored the final goal with six seconds left. Please contact us using the information below. Dantata owns MRS Petroleum. When he was 16 years old, he was given a share of his father's cattle business, the purchase of cattle in the north and transport by rail to Lagos for sale. Oil mogul Sayyu Dantata has chiselled his name on the stone which the names of members of the exclusive club of billionaires is etched. Others like Sayyu Dantata however are the new kids on the block. In what appears a plot to blur the trace to the Ovlas in Seychelles, the shareholders quickly filed for a change of name to Petrowest S.A. A document seen by Premium Times, reads Republic of Seychelles, INTERNATIONAL BUSINESS COMPANIES ACT, 1994Company No: 018606, This is to certify that OVLAS SA. Privacy Policy | 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? Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. 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. According to documents available to Premium Times, on the same day, Dangote was re-issued a higher number of shares 250,000. In essence, they are corporations that exist mainly on paper, have no physical presence, employ no one and produce nothing. 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Her blog currently enjoys a daily visit of between 100,000 to 250,000 visits from over 180 countries. She owns a property on Banana Island that has been the subject of very many controversies. Oba Otudeko, a former banker and renowned boardroom guru, owns a 15.4% stake in Honeywell Flour Mills, an NSE-listed entity which is part of the largely private Honeywell Group-a diversified conglomerate with tentacles in everything from oil marketing to food production, engineering services and finance. Leave Application "Dangote / Dantata Dynasties: How a Family of Billionaires was built ( Exclusive )", "The Nigerian Millionaires" at TIME Magazine, Article Aliko Dangote, mentioning Dantata's influence, https://en.wikipedia.org/w/index.php?title=Sanusi_Dantata&oldid=1148997046, This page was last edited on 9 April 2023, at 14:56. 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Terms of Use, ANCIR is being incubated by Code for Africa. The purpose (s) for which Dangote and his allies set up their own secret companies is not exactly clear. One of such men is Sayyu Idris Dantata. The world's premier source of news on Africa's billionaires and UHNWIs. Sayyu Dantata's $450 million Bestaf lubricant plant. 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. "I don't know what happened in that last chukker," Dantata said. "I won my debut, that's a good thing. Securely share information with Africa's finest journalists. Dantata is the founder and Chairman of MRS Holdings Company Limited. 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. He had his education at the Morris Brown College in Atlanta-Georgia, United States of America. harunawaleed (@harunawalid) June 25, 2019, [READ ALSO: Is Forte Oil Plc considering changing its name following acquisition?]. To keep reading for free, please enter your email! Linda is Nigerias celebrated and most popular blogger. The chopper is reportedly worth about N722 million. About Sayyu Dantata: Alhaji Sayyu Idris Dantata is the Founder and Chief Executive Officer of MRS Holdings Ltd, formerly known as the MRS Group. 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. -Kola Abiola - son of MKO Abiola - prominent businessman, publisher and politician. Will Apollo Offer THG a Route Out of Its Troubles? She was elected to the Nigerian Senate representing Ogun Central Senatorial District of Ogun State. Thereafter, he added groundnut produce buying and transport and haulage as part of his enterprise. 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. Education: Morris Brown College, Atlanta-Georgia, USA, Foundation or organization founded: MRS Holdings Ltd (Formerly, MRS Group). 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. Dantata could not be reached. Africa's Business Space At Your Finger Tips! That happened on October 12, 2012. Correction: An earlier version of this text stated that Sayyu Dantata is Aliko Dangotes cousin. Opinions expressed by Forbes Contributors are their own. "Then he gave her to me. 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 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. Sayyu Dantata was born and raised in the city of Kano state but he spent most of his life in the biggest city of Africa which is Lagos he was born on the 10 August 1960 right now he is over 60 years old. Nigeria, Africas most populous nation, is home to some of the richest men on the continent. It's definitely different playing mixed polo but I love it.". That was on April 12 2006. As an entrepreneur and billionaire owner of Globacom, Nigerias second-largest telecom company, Mike Adenuga is a man with luxurious tastes. 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 Sayyu saw the potential for diesel marketing when he first experienced difficulties procuring fuel for his companys huge fleet. 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). 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. He has a degree in economics and is a certificate holder of the CFA Institutes Investment Foundation Program. He also owns a property on Banana Island, which explains his inclusion on this list. p 209. The companys stock is down 16% since it floated shares; yet to bounce back to IPO price. View profiles of the MRS board and our executive management team. He did this to beat the normal gridlock on the road. 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. 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. 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. She was also listed as Nigerias Highest Paid Blogger by Forbes in August 2016. Sign up with your email address to receive news and updates. They are frequently used to shield the identities of owners and/or to hide money. Read the full response from Mossack Fonseca, African Network of African Reporting Centres. He started his career as Director of the Engineering and Transport Division of Dangote Group, the biggest Nigerian conglomerate. Sayyus personal interest is listed as Polo Games and uplifting the people. . An engineer by profession, he started his career as the transport director with his uncles company and rose through the organization. //

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