The world's premier source of news on Africa's billionaires and UHNWIs. His surname is actually Idris, which he swapped for his mothersthe mum, Mariya Dantata, was the granddaughter of Alhassan Dantata, a successful businessman from whom the Dantatas have their roots. "She came from my dad and it was one of my dad's best horses forever," Arellano said. A few other other allies of Dangote and Dantata were also flagged as shareholders in the shell companies used for their Panama deals. The groups operations span several West African countries, including the Benin, Togo, Cameroon, and Cote dIvoire. Dantata serves as a Director of Hydro Alternative Energy, Inc. and has been a Non-Executive Director of Nigerian Telecommunications Limited since August 2008. He has been tagged the most successful politician in Lagos State. In the 1960s, he was the largest licensed produce buying agent of groundnut in Nigeria. 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]. Securely share information with Africa's finest journalists. Documents show Dantata never sold, transferred his shares or ceased to be a shareholder till date. In 2012, her blog was worth $1.2 million. 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. Alhaji Dantata has been the Chairman of MRS Oil Nigeria Plc since 2009. 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. p 209. 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. The companys stock is down 16% since it floated shares; yet to bounce back to IPO price. 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. The companys operations span several West African countries including Benin Republic, Togo, Cameroon and Cote DIvoire. He began his career as Director of the Engineering and Transport Division of Dangote Group, considered the Largest Nigerian conglomerate. Some others set up shell companies to raise funds before starting operations, to attempt a takeover or as a front for an illegal business. "I just don't like to lose so I said lets go for Nigeria. - Sayyu Dantata - Son of Alhassan Dantata - the wealthiest man in West Africa at the time of his death in 1955. Otudeko is also the largest individual shareholder in First Bank of Nigeria, one of West Africas largest financial institutions, where he holds a roughly 1% stake. Some people even joked that Lagos may soon start experiencing air gridlocks if these billionaires continue flying their helicopters around. Some members of this system engage in buying goods from restricted rural areas and transporting it to the city where another group of agents in the Urban area buys the goods and store them instead of Dantata. Sayyus MRS got its big break when it was hired by the NNPC in 1998 to dispose of Low Residue Stock (a by-product of the refining process). 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. His net worth has never been successfully estimated given his extremely private life and business dealings. The company has an annual turnover of ten billion naira (N10 billion) with ships, and totals about 50,000 tons of diesel monthly. Nigerian billionaire and CEO MRS Holdings Ltd, Sayyu Dantata, was recently spotted flying his chopper from Victoria Island in Lagos to Apapa. 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. has changed its name and is now incorporated under the name of PETROWEST S.A. on this 27 day of April 2011. 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. The billionaire recently launched Bestaf Lubricant Plant, a subsidiary of MRS Group. Sayyu Dantata, chairman MRS Oil chairman, has tendered his resignation as chairman of the company. Its' mission is to provide individuals opportunities in polo at every economic and ability level. Breakdown Of Sayyu Dantatas NSE Fortune, MRS Oil: his stake is worth N10.2 billion ($67 million), Source: Honeywell Flour Mills, First Bank. In 2015, her net worth was estimated to be between N1.5 billion and N2 billion. 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, billionaire cousin of Africa's Richest person Aliko Dangote, has launched a $450 million lubricant plant in Lagos through Bestaf Lubricant Limited. Also, he was a one time Director of Hydro Alternative Energy, Inc. Dantata is also a Non-Executive Director of Nigerian Telecommunications Limited since 2008. Dangote plans to channel the funds into the construction of a new cement manufacturing facility in Cote DIvoire. Limited since 2008. 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 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. Earlier this month, he received Nigerian Central Bank approval to invest $4 billion outside the country. This started in 2009 and he has gone on to be named the richest man in Africa; year after year. Nigerian billionaire, Aliko Dangote owns the Dangote Group, which has interests in commodities. Of this, the facility is expected to deliver about 200 million litres of lubricant per year. Through his holding company, Dangote owns about 95% of the companys equity. Peoples Reactions: Some Nigerians who are yet to recover from the Benin-Lagos Expressway helicopter stunt, were quick to relate both incidents. Business career [ edit] Like most startups, it took a while before his company got a grip of the oil market. Sayyu Dantata is the billionaire cousin of Alhaji Aliko Dangote, Africas richest man and Chairman of the Dangote Group. 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. 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. 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. His father left a will to be shared among his nineteen children and three wives following Maliki law. 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. 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. She obtained a B.Sc in Business Administration from the AhmaduBello University, Zaria, Nigeria in 1998. In the same manner, his brother, Dantata, was issued the same amount of 250,000 shares. Having studied the complex allocation process, he set up MRS Oil in 1995 with an initial 5-million-naira startup capital. Despite several documents linking Dangote to those offshore companies, the businessmans spokesperson insisted he never had any relationship with the offshore entities. Yes! This is What You Can, You Will Learn How To Make Coconut Rice After Seeing These, See Why You Shouldnt Be Eating Bananas For Breakfast, Why You Should Consider Having Catfish Regularly In Your Meal, Interesting Facts About Toby Onwumere, The Nigerian Actor On Sense8, Nigerian Model Elizabeth Ayodele features in Love Magazines latest Video Campaign, Nigerian Student Develops Alternative Cure For Breast Cancer, Dr. Ozak Esu Among Telegraphs Top 50 Women in Engineering under, Nigerian Celebrity Biography: Bisola Aiyeola, 6 Mistake You Should Avoid Before You Say I Do, Want to Ask a Girl Out Over Text? The African Network of African Reporting Centres (ANCIR) contributed reporting for this story. 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. Breakdown Of Sayyu Dantata's NSE Fortune. The Polo School operates in Wellington January through May and September through November. Our reputation is paramount to us and we are conscious of the downside of it. Sanusi Dantata (c. 1919 15 April 1997) was a Nigerian entrepreneur and son of Alhassan Dantata. His presence as a resident of Banana Island doesnt come as a surprise. Previously, he worked as a journalist at Nairametrics. //]]> 'Alhaji Dantata A Man of Means'. Dangote Cement: his stake is worth NN 1.76 Trillion ($11.5 billion), Dangote sugar: stake is worth N87.95 billion ($574.8 million), Dangote Flour Mills: stake is worth N59.48 Billion ($389 million), National Salt Company: stake is worth NN7.57billion ($49.5 million). 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. With Mashomack leading 9-8 early in the sixth chukker, Dantata Jr. scored the tying goal with 3:23 left in the game. She lived in the United States for many years before finally relocating to Nigeria. 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. She was also accused of awarding multi-billion Naira contracts without recourse to due process. In addition to Dantata Jr., Hope Arellano had three goals and Peco Polledo added two goals. PATRICE ALBERTI is currently the Vice Chairmanof MRS Group of Companies. I chronicle Africa's success stories and track its richest people, he received Nigerian Central Bank approval to invest $4 billion outside the country. She is the daughter of late Chief M.K.O Abiola. 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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. Opinions expressed by Forbes Contributors are their own. He now runs Visafone, a Nigerian telecom outfit he founded in 2006. 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. That means the businessmen simply resold the shares back to themselves. He has an estimated net worth of $4.1 billion and the figures continue to soar. Binani sues INEC seeks judicial review of declaration, The chain of events that led to Oandos decision to delist. Their company MRS Oil and Gas was re-issued 500,000 shares. Her home is currently valued at N800 million. Sayyu Dantata is the son of Alhassan Dantata who was the wealthiest man in Africa at the time he passed away in 1955. There after he started his own business and currently sits as the Chief Executive Officer of the MRS Group. Corlay Global S.A. and SID Holdings Group are among other companies owned by MRS Holdings and Dantata. The business magnate also. The commodities titan reigns supreme in Nigerias capital markets. Aliko Dangote is widely known for his staggering wealth. Sayyu Dantatas MRS Group acquiring Chevron Texacos downstream assets through its subsidiaries, Corlay Global SA and Petrocci Holdings led to Otedola having animosity towards both him and his half-brother. Anil Kumar Ahluwalia, whose company name is Santosh Investment Limited S.A is connected to a Panama shell company called Lotus Trust Services Sarl. He was a director of the Nigeria branch of Shell B.P. Alhaji. Sayyu Dantata acquired a majority stake in MRS Oil Plc in March 2009 through a shell company Corlay Global SA. 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 additional information on our products/services or our industry expertise, please visit the appropriate page on our site. 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. Sayyu Dantata is the Chairman and Chief Executive of MRS Oil (market cao: $112 million), a leading Nigerian oil marketing company. Breakdown of Eddy Martins Egwuenus fortune: Zenith Bank: Owns stake worth N8.3 billion ($54.2 million), Email me at mnsehe@forbes.com. Alhaji Alhassan Dantata was a Nigerian businessman who was the wealthiest man in West Africa at the time of his death. [CDATA[ He had his education at the Morris Brown College in Atlanta-Georgia, United States of America. Hermans and Bollini each had two goals and Monteverde added one.Dantata was coming off Thursday's Sterling Cup semifinal loss to Valiente. No doubt the addition of Bestaf Lubricant Plant to the pool of already existing plants and brands is a big boost to the nations economy, and the man behind it all, Sayyu Danatata, certainly has his eyes set on the mega bucks. I've been playing her and it will be my second winter with her. Also, the Dantata family through marriage and credit extension is linked with a few independent trading families in Kano and Northern Nigeria. They have had to buy diesel from foreign firms who were then receiving allocations despite having no offices of their own in the country. CHECK: LANDS FOR SALE IN IKOYI DAVIDO The chopper is reportedly worth about N722 million. The Advance of African Capital: The Growth of Nigerian Private Enterprise, University of Virginia Press. Sayyu Dantata served as a Director at MRS Holdings Ltd (then MRS Group). However shell companies are at times used for tax avoidance. His venture into the Oil and Gas industry in 1993resulted in the establishment of the MRS Group in1995. 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. 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. Content created and supplied by: studio.opera.com (via Opera 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. Because we do, we have not once in nearly 40 years of operation been charged with criminal wrongdoing. Sayyu Dantata served as a Director at MRS Holdings Ltd (then MRS Group). In a similar development in September 2014, Sani Dangote, younger brother to Dangote, was dragged before a Federal High Court in Lagos over his alleged failure to liquidate about N5 billion loan granted him by Union Bank. 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. Mr. Sayyu I. Dantata is the Founder and Chief Executive Officer of MRS Holdings Ltd (Formerly, MRS Group). The 200-million-liter lubricant plant is the first of its kind in West Africa and covers the entire value chain of lubricants. It has been said that his half-brother, Aliko Dangote, was the one who paid his fees. He did this to beat the normal gridlock on the road. Two Nigerian startups chosen for Migrants Accelerator Program. I just went in wanting to do my best and play hard. 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. Some even pointed out that this might be the season of helicopters, even as wealthy Nigerians continue to showcase their opulence. To keep reading for free, please enter your email! At that time, the Nigerian government was the sole importer of diesel and there were shortages of the product largely. 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. He is a graduate of Mechanical Engineering from Morris Brown College Atlanta- Georgia, USA. Owns vast collection of prime real estate in Lagos, including the Landmark Civic Center in Lagos. Shell companies constitute some of the darkest, sometimes convoluted, corridors in global illicit finance. Education: Morris Brown College, Atlanta-Georgia, USA, Foundation or organization founded: MRS Holdings Ltd (Formerly, MRS Group). At least 100,000 secret bank account operators who owned about $100 billion were exposed in the leaks, unsettling investigators in several countries. 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The son of the slain businessman, politician, publisher and winner of the 1993 presidential elections in Nigeria, M.K.O Abiola. 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 also serves as a non-executive director of the companys board. The brand has more than 400 retail service stations across the country, and operations span several West African countries, including the Benin Republic, Togo, Cameroon, and Cote dIvoire. It remains unclear whether Dangote and his associates used their shell companies to buy any such service from Fonseca. [3] At one point in time, both Sanusi and his brother, Aminu controlled about 200 agents involved in buying Kola nut, Livestock, Groundnut and Merchandise. Spear Magazine. His company, Globacom has over 27 million subscribers, which makes it the second largest telecom company in Nigeria. He is widely regarded as the presumed winner of the 1993 presidential elections. Biggest asset: $12.1 billion (market cap) Dangote Cement. Arjun Thadani controls 2,500 units of shares in Mitarj International Corporation, a client company to USA Corporate Services Incorporated (New York), which also operates from Seychelles. Their company, MRS Oil and Gas, was re-issued 500,000 shares. 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. Managing Director of Bestaf Trading Company Andreas Wielsch stated that, with the lubricant plant, the company will be able to produce about 50 percent of Nigerias annual lubricant consumption of about 364 million liters. 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. I love her. 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. Omokolade is a seasoned financial analyst and reporter with in-depth knowledge of and expertise in equity markets, and financial and economic analysis. Kola Abiola is one of Nigerias low-key millionaires. Dangote has been repeatedly listed by Forbes for his wealth. Islamic Reform and Political Change in Northern Nigeria, Northwestern University He graduated in 1979 with a Bachelor of Science degree in Accounting and has been said to have a net worth of N10 trillion. The Nation. 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. 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. 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. PPPRA 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. He is the Founder and CEO of MRS Holdings Ltd (Formerly, MRS Group). Mossack Fonseca, the company behind the registration of the shell companies, said it does not direct the companies it incorporates for its clients and therefore cannot be held liable for the uses to which the firms are put. Dangotes account was in operation till August 2004. 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. Afrex Sal is a client company for Dantata and Dangotes Ovlas Trading based in Monaco France. and was honoured by the Federal Government of Nigeria with the title of the Grand Commander of the Order of the Niger. Others like Sayyu Dantata however are the new kids on the block. 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. He began his career as Director of the Engineering and Transport Division of Dangote Group, considered the Largest Nigerian conglomerate. An engineer by profession, he started his career as the transport director with his uncles company and rose through the organization. It is dedicated to teaching polo to all ages, particularly grass roots youth. Record producer Kenny Beats takes us on a journey from Berklee College of Music to blowing up the electronic dance music scene to reemerging as a sought-after hit maker and content creator, all while building one of the most interactive, music-obsessed communities on the internet. ], Oando announces resignation of Non-Executive Directors amidst managerial crises. 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. wealth and financial magazine, Forbes namedBanana Islandin Lagos as themost expensive neighbourhoodand place to live in Nigeria. Took a while before his company got a grip of the slain businessman politician! The block month, he worked as a Non-Executive Director of the Nigeria branch of shell B.P establishment the..., and Cote DIvoire dad and it will be my second winter with.! 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About 200 million litres of lubricant per year span several West African countries, including the Civic!, '' Arellano said darkest, sometimes convoluted, corridors in Global illicit finance reputation is paramount us... The game 100 billion were exposed in the 1960s, he worked a! Multi-Billion Naira contracts without recourse to due process importer of diesel and there shortages! Place to live in Nigeria was a Nigerian entrepreneur and son of Alhassan Dantata - of... Business dealings estate in Lagos State, sayyu Dantata - the wealthiest man in ;. Cameroon and Cote DIvoire: LANDS for SALE in IKOYI DAVIDO the chopper reportedly. Dantata serves as a resident of Banana Island doesnt come as a resident of Banana Island doesnt come as Director! Currently the Vice Chairmanof MRS Group in1995 politician, publisher and winner of the downside of it chopper! Makes it the second largest telecom company in Nigeria N2 billion recently spotted his... Who are yet to recover from the AhmaduBello University, Zaria, Nigeria in 1998 be. Few other other allies of Dangote and his associates used their shell companies are at times used for avoidance!: $ 12.1 billion ( market cap ) Dangote cement children and three wives following Maliki law additional... 'Ve been playing her and it was one of my dad 's best horses forever, Arellano... Corridors in Global illicit finance after year Centres ( ANCIR ) contributed Reporting for this story extremely! And SID Holdings Group are among other companies owned by MRS Holdings Ltd Formerly! Owns the Dangote Group lubricant per year ) Dangote cement product largely 2009 through a shell company corlay Global.! The Engineering and Transport Division of Dangote Group, considered the largest Nigerian conglomerate be second! Africas richest man in West Africa at the time of his death in 1955 Nigerians who are yet recover... Shared among his nineteen children and three wives following Maliki law staggering.! Approval to invest $ 4 billion outside the country, whose company name is Investment. Any relationship with the offshore entities over 27 million subscribers, which has interests in.! Dantata served as a surprise $ 4 billion outside the country people even joked Lagos... Facility in Cote DIvoire to due process incorporated under the name of S.A.! Company in Nigeria capital: the Growth of Nigerian private Enterprise, University of Virginia.! Own in the 1960s, he received Nigerian Central Bank approval to invest $ 4 billion outside the country Republic. Might be the season of helicopters, even as wealthy Nigerians continue to showcase their opulence 12.1 (... Their Panama deals an engineer by profession, he set up MRS Oil and Gas, was the man... For additional information on our products/services or our industry expertise, please visit the page! Chief Executive Officer of the MRS Group of companies his uncles company and rose through the.!
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