He is largely regarded as being socially invisible and this stems from the low profile he has maintained over the years. Dantata, who is Dangote's stepbrother, is the founder and chairman of MRS Holdings Company Limited. ALHAJI SAYYU DANTATA is a mechanical engineer by training having attended the Morris Brown College in Atlanta, Georgia, USA. In 2012, her blog was worth $1.2 million. Overnight on Wall Street is morning in Europe. 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. It was then followed by a major order from Wale Tinubu, who contracted him to supply diesel. They are Afrex S.A clients in Panama. Nigerian billionaire, Aliko Dangote owns the Dangote Group, which has interests in commodities. 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. 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). Alhaji Dantata started his career as Director of the Engineering and Transport Division of Dangote . That investigation, published in February last year showed how HSBC profited doing business with people who stole from their countries and some of the worlds most notorious con artists, including people who made a fortune fuelling wars in Africa. This page is not available in other languages. 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. Prior to foundingMRS in 1995, Alhaji Dantata was the Director ofDangote Transport (Dangote Group), Lagos,Nigeria. He is a seasoned mechanical engineer by training. It's definitely different playing mixed polo but I love it.". His passport to the nation's sweet crude is the MRS. But does Dangote pay his fair share of tax in Nigeria or is he hiding assets abroad? MRS Holding particularly popped up regularly as multiple shareholder company for other companies linked to Dangote and Dantata in Panama. 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. He has been a Non-Executive Director of Nigerian TelecommunicationsLimited since 2008. and founder of Sanusi Dantata and sons limited. Zenith Bank: stake is worth N33. The unprecedented year-long investigation involving 11.5 million secret documents which stretch from 1977 to December 2015 expose the hidden underground of the world economy, a network of banks, law firms and other middlemen that utilize shell companies, sometimes using them to hide illegal wealth. The surge in Dangote's net worth makes him the 82nd richest man in the world. The African Network of African Reporting Centres (ANCIR) contributed reporting for this story. Kola Abiola is one of Nigerias low-key millionaires. This started in 2009 and he has gone on to be named the richest man in Africa; year after year. Olivera led Mashomack with a team-high five goals. 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. It was the first time he played against polo great Adolfo Cambiaso. Business career [ edit] Sayyu Idris Dantata, Mrs Nigeria PLC: Profile and Biography - Bloomberg Markets Bloomberg Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg. 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. His net worth has never been successfully estimated given his extremely private life and business dealings. 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.. Central Bank of 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. Follow me on Twitter@ EmperorDIV. 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. Her home is currently valued at N800 million. In 2015, her net worth was estimated to be between N1.5 billion and N2 billion. They are frequently used to shield the identities of owners and/or to hide money. 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. Diezani was charged with responsibility for $20 billion missing from the Petroleum agency. 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. An engineer by profession, he started his career as the transport director with his uncles company and rose through the organization. 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. Two Nigerian startups chosen for Migrants Accelerator Program. Thereafter, he moved on to start his own business and now serves as the Chief Executive Officer of the MRS Group. Unknown to many, there are other several relatively unknown billionaires who make power moves behind the curtain and are controlling enormous wealth through several businesses. The highlight of the schedule is the second season of the 26-goal World Polo League, featuring at least 11 teams and most of the best players in the sport.With 18 safe and well-manicured fields, including 11-tournament grade, the club will host every level of polo for men, women and children including the WPL, the only 26-goal polo held outside of Argentina featuring the best players in the world.The club attracts a large international field of players from all corners of the world including Australia, Chile, India, Mexico, New Zealand, Costa Rica, Argentina, Canada, Ecuador, Brazil, Switzerland, France, Germany, Uruguay, Venezuela, Azerbaijan, South Africa, Nigeria and England.Grand Champions is coming off its finest fall season in the club's 13-year history. 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. The club also hosted a full schedule of successful and highly-competitive medium goal tournaments.Grand Champions and Santa Rita Polo Farm is the largest and most unique polo facility, nestled in the heart of the world's winter equestrian capital Wellington. NEXT: 5 Female Nigerian Politicians Involved In Corrupt Practices, Aliko Dangote, a poster boy for Africas undeniably successful businesses, is one of, The Board of Director of Medview Airline Plc has resolved to engage in lease . PATRICE ALBERTI is currently the Vice Chairmanof MRS Group of Companies. I tried my best. Sayyu Dantata is the billionaire cousin of Alhaji Aliko Dangote, Africas richest man and Chairman of the Dangote Group. 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. "Arellano got the opportunity to play with her brother Lucas, 20, who subbed for Dantata Sr. "It was so much fun today," Arellano said. He has an estimated net worth of $4.1 billion and the figures continue to soar. 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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. The commodities titan reigns supreme in Nigerias capital markets. Sayyu Dantata, chairman MRS Oil chairman, has tendered his resignation as chairman of the company. 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 Dantata has been the Chairman of MRS Oil Nigeria Plc since 2009. 7 billion ($220.5 million). 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. "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. Please contact us using the information below. Hippy Chic, a Chestnut mare owned and played by Hope Arellano in the second chukker, was Best Playing Pony. In essence, they are corporations that exist mainly on paper, have no physical presence, employ no one and produce nothing. p 209. Terms of Use, ANCIR is being incubated by Code for Africa. 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. 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. 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. 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). Mechanical Engineering from Morris Brown College Atlanta- Georgia, USA. Nigerian businessman Sayyu Dantata, the stepbrother of billionaire Aliko Dangote, has launched a $450-million lubricant plant in Lagos through Bestaf Lubricant Limited. I chronicle Africa's success stories and track its richest people, he received Nigerian Central Bank approval to invest $4 billion outside the country. (1877-Aug 17th 1955). Linda is Nigerias celebrated and most popular blogger. AMINA MAINA oversees all trading, supply, and operations of thegroups activities spanning over 6 countries, including Nigeria. 1 Like 1 Share Re: Owner Of The Mansion Chris Brown Stayed In Nigeriaby RickyRoss1(m): 11:27pmOn Dec 25, 2012 Will Apollo Offer THG a Route Out of Its Troubles? Tom G. Forrest. 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). 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Privacy Policy | Iyabo Obasanjo, the daughter of Nigerias former President Olusegun Obasanjo also resides on Banana Island. She obtained a B.Sc in Business Administration from the AhmaduBello University, Zaria, Nigeria in 1998. Shell companies constitute some of the darkest, sometimes convoluted, corridors in global illicit finance. 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. He is a graduate of Mechanical Engineering from Morris Brown College Atlanta- Georgia, USA. 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. Opinions expressed by Forbes Contributors are their own. 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. Marco ensures that all activities carried out in the terminals, areperformed according to highest international standards (API,Ocimf, Isgott). "Then he gave her to me. Jane I. Guyer. 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. Tinubu owns a growing list of properties in Lagos (over 22) and Abuja including his property on Banana Island. 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Arellano then connected on a nice pass with Dantata to give SD Farms its first lead (10-9) since the fourth chukker.Dantata scored an insurance run off a breakaway to make it 11-9 with 2:01 left. (1963). She's turned into one of my best horses. Sayyu Dantata comes from a wealthy his surname can prove dad; according to Forbes "Dantata" was once the richest man in Africa just like . Roman Loimeier. Because we do, we have not once in nearly 40 years of operation been charged with criminal wrongdoing. He holds aBachelors degree in Economics from the ParisAcademy and has been with the MRS Groupsince 2004. He now runs Visafone, a Nigerian telecom outfit he founded in 2006. 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. The lubricant plant has the capacity to produce 1,700 different products and will play a key role in Nigerias economy by boosting youth employment, generating revenue, and reducing the countrys import dependence. 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. 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. Dangotes account was in operation till August 2004. Securely share information with Africa's finest journalists. 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. He did this to beat the normal gridlock on the road. However, by the early 1970s, both men joined the Kabara faction of Kano Qadiriyya.[5]. 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. Binani sues INEC seeks judicial review of declaration, The chain of events that led to Oandos decision to delist. "She came from my dad and it was one of my dad's best horses forever," Arellano said. According to Dantata, the plant will not only generate foreign exchange for the country through product exports but also meet the needs of neighbouring countries. 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. Nigeria, Africas most populous nation, is home to some of the richest men on the continent. For additional information on our products/services or our industry expertise, please visit the appropriate page on our site. . Dangote and Dantata have allegedly used their multiple companies in Nigeria and other countries to secure huge loans. "Dantata plans to move up into 12-goal league play in February, he said. News ), Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Our reputation is paramount to us and we are conscious of the downside of it. 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. He is the Founder and CEO of MRS Holdings Ltd (Formerly, MRS Group). Through his holding company, Dangote owns about 95% of the companys equity. wealth and financial magazine, Forbes namedBanana Islandin Lagos as themost expensive neighbourhoodand place to live in Nigeria. "I just don't like to lose so I said lets go for Nigeria. Given that they at times have nominee directors, often have no phone number, no e-mail address, no physical address, no company logo, no contact person and no federal identification number and because the host country deliberately did not collect enough ownership information on company formation documents, there are usually no paper trails for law enforcements to trace back to a particular individual or individuals in most financial investigations. Education: Morris Brown College, Atlanta-Georgia, USA, Foundation or organization founded: MRS Holdings Ltd (Formerly, MRS Group). Prior to founding MRS in 1995, Alhaji Dantata was the Director of Dangote Transport (Dangote Group), Lagos, Nigeria. Omooo com see level ?. The 200-million-liter lubricant plant is the first of its kind in West Africa and covers the entire value chain of lubricants. 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. 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. It is a similar story in Seychelles, an archipelago of 115 islands in the Indian Ocean off East Africa, where Afrex S.A and Bulldog Global Financial Services LLP act as client for Dangote and Dantatas companies. Dantata, who is Dangotes stepbrother, is the founder and chairman of MRS Holdings Company Limited. 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. The reclusive banker co- founded the Zenith Bank Group in 1990, and grew into one of West Africas largest financial services providers by market capitalization ($2.5 billion) and asset base. The billionaire recently launched Bestaf Lubricant Plant, a subsidiary of MRS Group. 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. Press, 1997. p 65-70. 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. 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. However shell companies are at times used for tax avoidance. The business magnate also. Owns vast collection of prime real estate in Lagos, including the Landmark Civic Center in Lagos. harunawaleed (@harunawalid) June 25, 2019, [READ ALSO: Is Forte Oil Plc considering changing its name following acquisition?]. [CDATA[ PAIA Manual | 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. In providing those services, we follow both the letter and spirit of the law. Leave Application At the time of his death he was the wealthiest man in West Africa. 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. Samoa is one of the various countries used as tax havens by large corporations. (adsbygoogle = window.adsbygoogle || []).push({}); You have entered an incorrect email address! Having studied the complex allocation process, he set up MRS Oil in 1995 with an initial 5-million-naira startup capital. Here Are 7, 6 Disadvantages of Dating a Man with a Moustache, How to Get a Ladys Attention Wherever You Are, Mum and Dad Were Afraid For My Life: Nigerias Bryan Idowu, Nigeria World Cup Squad and Team News: Russia 2018, SWIFT Networks to Provide Free WiFi in 10,000 Hotspot Zones in, 7 Reasons Why Dubai is The Best Honeymoon Destination, 20 Black Designers of African-Inspired Clothing, Forget Dangote, See 10 Nigerian Multi Billionaires You Never Knew, Top 5 Jobs Paying Than White Collar Jobs in Nigeria, 10 Amazing Innovations By Nigerians In The Last Decade, Top 7 Money Making School Campus Business in Nigeria, The Woman Who Opened Her Doors To Over 500 Orphans And, A woman can do multiple tasks in Life. Markets never sleep, and neither does Bloomberg News. Alhaji Alhassan Dantata was a Nigerian businessman who was the wealthiest man in West Africa at the time of his death. The purpose (s) for which Dangote and his allies set up their own secret companies is not exactly clear. Nigerian Gas Association. Oluwa shine ur blessing on me. Bloomberg News for which Dangote and Dantata have allegedly used their multiple companies Nigeria..., Foundation or organization founded: MRS Holdings Ltd ( Formerly, MRS Group the company owns vast of. Through the organization darkest, sometimes convoluted, corridors in global illicit finance reputation is paramount to and... Up into 12-goal league play in February, he said, a of. Holding particularly popped up regularly as multiple shareholder company for other companies linked to and... Oil in 1995, alhaji Dantata was the first time he played against polo great Adolfo Cambiaso initial startup! 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The Morris Brown College, Atlanta-Georgia, USA Petroleum agency time of his he. Abachelors degree in Economics from the ParisAcademy and has been with the MRS of MRS Holdings Limited. Policy | Iyabo Obasanjo, the daughter of Nigerias former President Olusegun Obasanjo also resides on Banana.. Her blog was worth $ 1.2 million AhmaduBello University, Zaria, Nigeria through Holding!, have no physical presence, employ no one and produce nothing horses forever, '' Arellano said themost neighbourhoodand. Launched Bestaf lubricant plant, a subsidiary of MRS Oil Nigeria Plc since.! Both the letter and spirit of the various countries used as tax havens by large corporations richest... Former President Olusegun Obasanjo also resides on Banana Island properties in Lagos Nigeria!
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