He has also served as a Director at Transnational Corporation of Nigeria Plc. Tinubu owns a growing list of properties in Lagos (over 22) and Abuja including his property on Banana Island. "I just don't like to lose so I said lets go for Nigeria. Over the past few years, her net worth has been a subject of heated debate. Based on figures derived from investment agencies, the latest annual reports and confirmations from capital market registrars, these are the five richest people who own stocks listed on the Nigerian Stock Exchange. 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. Follow me on Twitter@ EmperorDIV. January 24, 2023 Nigerian businessman Sayyu Dantata, the stepbrother of billionaire Aliko Dangote, has launched a $450-million lubricant plant in Lagos through Bestaf Lubricant Limited. PAIA Manual | The 200-million-liter lubricant plant is the first of its kind in West Africa and covers the entire value chain of lubricants. However shell companies are at times used for tax avoidance. Will Apollo Offer THG a Route Out of Its Troubles? ALHAJI SAYYU DANTATA is a mechanical engineerby training having attended the Morris BrownCollege in Atlanta, Georgia, USA. 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 . After three years of holding the shares, they all ceased to be shareholders. This they do through Transfer Pricing, a complex structure that allows businesses often in third world countries to shift profits to shell companies overseas to allow them pay little or no tax in the country where they made the money. Opinions expressed by Forbes Contributors are their own. Anil Kumar Ahluwalia, whose company name is Santosh Investment Limited S.A is connected to a Panama shell company called Lotus Trust Services Sarl. [CDATA[ 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. The commodities titan reigns supreme in Nigerias capital markets. Dantata started his career as Director of the Engineering and Transport. His presence as a resident of Banana Island doesnt come as a surprise. His support for Ali Kumasi led him into conflict with Nasiru Kabara, the leader of the Qadiriyya movement in Kano and West Africa and a former tutor of Sanusi. That was also dated April 12 2006. One of such men is Sayyu Idris Dantata. 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). Diezani was charged with responsibility for $20 billion missing from the Petroleum agency. The groups operations span several West African countries, including the Benin, Togo, Cameroon, and Cote dIvoire. In providing those services, we follow both the letter and spirit of the law. She obtained a B.Sc in Business Administration from the AhmaduBello University, Zaria, Nigeria in 1998. Alhaji Sayyu Idris Dantata, Aliko Dangotes half-brother, is the Founder and Chief Executive Officer of MRS Holdings Limited (Formerly known as MRS Group). It is dedicated to teaching polo to all ages, particularly grass roots youth. Ovia was forced to step down as chief executive last year following a Central Bank directive which limits the tenure of bank chiefs to 10 years. Earlier this month, he received Nigerian Central Bank approval to invest $4 billion outside the country. Limited since 2008. The MRS Group had just three staffers at its inception, but today boasts of about two thousand (200) employees on its payroll. Prior to foundingMRS in 1995, Alhaji Dantata was the Director ofDangote Transport (Dangote Group), Lagos,Nigeria. In the same manner, his brother, Dantata, was issued the same amount of 250,000 shares. His father left a will to be shared among his nineteen children and three wives following Maliki law. The chopper is reportedly worth about N722 million. Lastly, Sayyu Dantata, you must have heard this name before, Dantata is one of the popular rich men in Nigeria and the name always ring a bell even to those that haven't seen him before. 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. The business magnate also. But does Dangote pay his fair share of tax in Nigeria or is he hiding assets abroad? At that time, the Nigerian government was the sole importer of diesel and there were shortages of the product largely. Sayyu Dantata served as a Director at MRS Holdings Ltd (then MRS Group). The Advance of African Capital: The Growth of Nigerian Private Enterprise, University of Virginia Press. He has a degree in economics and is a certificate holder of the CFA Institutes Investment Foundation Program. The wealthiest man in West Africa. 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. Peoples Reactions: Some Nigerians who are yet to recover from the Benin-Lagos Expressway helicopter stunt, were quick to relate both incidents. He had his education at the Morris Brown College in Atlanta-Georgia, United States of America. It has been said that his half-brother, Aliko Dangote, was the one who paid his fees. Dantata serves as a Director of Hydro Alternative Energy, Inc. and has been a Non-Executive Director of Nigerian Telecommunications Limited since August 2008. Our reputation is paramount to us and we are conscious of the downside of it. 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. To keep reading for free, please enter your email! Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. The surge in Dangote's net worth makes him the 82nd richest man in the world. Sayyu Dantata is the billionaire cousin of Alhaji Aliko Dangote, Africas richest man and Chairman of the Dangote Group. "I am happy I won," Dantata Jr. said. "I don't know what happened in that last chukker," Dantata said. 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. 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. 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. He is a graduate of Mechanical Engineering from Morris Brown College Atlanta- Georgia, USA. Mr Eazi Love You Tire, How to Make Nigerian Jollof Rice Easy Recipe, Hot New Video From Yemi Alade Want You (Video), Venus Williams Marks Her 20th Anniversary With Victory in French Open, Nigerias Super Falcons Are African Champions For The 8th Time, Rinsola Babajide Scored 14 Goals as Her Team Won 40-0, First Nigerian Individual Gold Medallist Speaks On Why Nigeria Does Not, 16 Creative Paper Art Decors Made By Deesoy Designs, These Black And White Photos Will Make You Fall In Love, Youll Never Believe The Moves of This Street Performer, Nigerias Habiba Daggash Awarded Prize For Best Performance In Chemical Engineering, Shafaatu Yahaya Yusuf Becomes The First Girl in Her Community to, Nigerian Woman Graduates With A First Class In Engineering From University, Commissioned in 1946, Ikoyi Nursery School Turns 70, This Life Hack Will Teach You How To Get Good Sleep, 15 Struggles Every Mixed Race Nigerian Knows To Be True, Many Times Hon Patrick Obahiagbon Confused Nigerians With His Grammar, Top 8 Most Funny Quotes By Nigerian Politicians, African Safari Animals Drunk Off Their Asses, 20 Most Beautiful Tourist Attractions In Nigeria, 7 Things To Know About Public Transport System In Lagos, 5 Reasons Why You Should Use Public Transportation To Work, 20 Pictures of Beautiful Places in Nigeria Youve Never Seen Before, 6 Things Experienced As a Kid Raised In Nigeria, See What Jealous Lioness Did to a Lion For Cheating, Male Seahorse Giving Birth Will Blow Your Mind, 30 Beautiful Ankara Style Inspiration For Women 2018, Classy Ankara Swimsuit Styles For Spring And Summer. 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. 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. Every time I see horses I just want to go and spend time with them. In essence, they are corporations that exist mainly on paper, have no physical presence, employ no one and produce nothing. 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.. Previously, he worked as a journalist at Nairametrics. -Kola Abiola - son of MKO Abiola - prominent businessman, publisher and politician. There have been many instances where the wealthy in Nigeria 'oppress' their poor neighbours with their wealth,. Tom G. Forrest. 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. - Sayyu Dantata - Son of Alhassan Dantata - the wealthiest man in West Africa at the time of his death in 1955. The M.R.S Investments Companies mentioned earlier is a subsidiary of MRS Holdings. It is not clear to what use Dangote put the account and perhaps because he closed it long before the data were stolen, bank records did not indicate any balance on the account. 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. Binani sues INEC seeks judicial review of declaration, The chain of events that led to Oandos decision to delist. Sanusi Dantata (c. 1919 15 April 1997) was a Nigerian entrepreneur and son of Alhassan Dantata. He's built a network around his hit YouTube series, "The Cave," landed deals and produced records for some of the biggest artists in music, and still found time to release his first album, "Louie. Nigerian billionaire, Aliko Dangote owns the Dangote Group, which has interests in commodities. The lubricant plant comes with a capacity to produce as many as 1,700 different products in the petroleum chain. The Dantata family operated their businesses partly through a patrimonial system of credit allocation, trade and business transfers to kin, household and others members of their clientage. and founder of Sanusi Dantata and sons limited. "I love playing with my brother. Nigerian billionaire and CEO MRS Holdings Ltd, Sayyu Dantata, was recently spotted flying his chopper from Victoria Island in Lagos to Apapa. 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. with legendary father/son duo of Adolfo Cambiaso and his 14-year-old son Poroto, ready . They are Afrex S.A clients in Panama. 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. His company, Globacom has over 27 million subscribers, which makes it the second largest telecom company in Nigeria. She's turned into one of my best horses. He did this to beat the normal gridlock on the road. 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. Dantata is the founder and Chairman of MRS Holdings Company Limited. Sayyu Dantata comes from a wealthy his surname can prove dad; according to Forbes "Dantata" was once the richest man in Africa just like . Like most startups, it took a while before his company got a grip of the oil market. He is the Founder and CEO of MRS Holdings Ltd (Formerly, MRS Group). 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. Alhaji Sayyu Idris Dantata - Chairman Alhaji Dantata is a mechanical Engineer. Dantata owns MRS Petroleum. He has 31 years experience gained in shipping, oil trading, supplyoperations, fleet tanker management, maritime claims, andinsurance amongst others from various companies in Italy,Monaco and Nigeria. I've been playing her and it will be my second winter with her. (adsbygoogle = window.adsbygoogle || []).push({}); You have entered an incorrect email address! 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. and was honoured by the Federal Government of Nigeria with the title of the Grand Commander of the Order of the Niger. Olivera led Mashomack with a team-high five goals. 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. 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. She owns a property on Banana Island that has been the subject of very many controversies. Education: Morris Brown College, Atlanta-Georgia, USA, Foundation or organization founded: MRS Holdings Ltd (Formerly, MRS Group). Scholarships are available. He also serves as a non-executive director of the companys board. //