The acquisition may face hurdles as Johann Rupert, the South African billionaire who leads Richemont, has shown resistance to potential takeovers. 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. Afrex Sal is a client company for Dantata and Dangotes Ovlas Trading based in Monaco France. Her home is currently valued at N800 million. window.__mirage2 = {petok:"NU1XWiS0aIgqL2kNAZJSViJcfj6ZI_mmTiSkiHqpr5Y-3600-0"}; In providing those services, we follow both the letter and spirit of the law. It will not be slowed down in perpetuity. With its impressive collection of premium brands such as Chloe, Dunhill, Alaa, Cartier, and Delvaux, Richemont has secured its place as the fourth-largest luxury company globally, boasting a market capitalization of almost $79 billion. After her death he focused his attention on new opportunities in Lagos and Kano. This literary means they resold the shares back to themselves. Read the full response from Mossack Fonseca, African Network of African Reporting Centres. ", COPYRIGHT 2023 MANSION GLOBAL. In 1929, when the Bank of British West Africa opened a branch in Kano, Dantata placed 20 camel-loads of silver coins in it. Dantata, who is Dangote's stepbrother, is the founder and chairman of MRS Holdings Company Limited. See Sayyu Idris Dantata's compensation, career history, education, & memberships. Content created and supplied by: studio.opera.com (via Opera Basically, the [] 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 . 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. He purchased some items in Bebeji, he sold half of them on the way and the rest in Accra. It will not be slowed down in perpetuity.". Other business allies. Dantata, who is Dangotes stepbrother, is the founder and chairman of MRS Holdings Company Limited. Tinubu owns a growing list of properties in Lagos (over 22) and Abuja including his property on Banana Island. They are frequently used to shield the identities of owners and/or to hide money. He implored them to continue to marry within the family as much as possible. Our reputation is paramount to us and we are conscious of the downside of it. Many people using offshore companies do so legally and offshore companies indeed have many legal purposes. Sayyu Idris Dantata is Former Chairman at Mrs Nigeria PLC. 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. In line with its strategy to solidify its leadership position across various sectors, the Cairo-based automaker, owned by the family of the late Egyptian auto mogul, announced earlier this year its plans to rebrand to GB Corp.. In the past, Sayyu Dantata, has been trailed by one issue or the other. Anil Kumar Ahluwalia, whose company name is Santosh Investment Limited S.A is connected to a Panama shell company called Lotus Trust Services Sarl. This strategic move aims to enhance the companys reputation and further expand its already significant presence in the market. and was honoured by the Federal Government of Nigeria with the title of the Grand Commander of the Order of the Niger. By Godwin Oritse. However, this did not happen. Most Valuable Player Grand Champions Polo Club Watch LIve on the all-new ChukkerTV App: Download Unauthorized request L2FwaS9jb21tZW50L0dldENvbW1lbnRzP2NydW1iPUJZeG5yUE5HblVSS00ySTFNalZqTldReU1qVXhOMlZrTVRjNE9UZzNPRFZtTUdWaFpHUXg= Tundun leads a largely quiet lifestyle with the exception of rare appearances at social events. They include Ola Rosiji, a shareholder of Excalibur Holdings Services Incorporation; and Alex-Duduyemi Oyekunle, a traditional chief known as the Aro of Ife Kingdom. "I don't know what happened in that last chukker," Dantata said. 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. She lived in the United States for many years before finally relocating to Nigeria. Aliko Dangote's brother, Sayyu Dantata's MRS Oil head office shut down by Government over Tax Evasion. //]]> Unlike other established Kano merchants, he was in his mid-thirties, with a small family and retinue to support. [8], In 1955, Dantata fell ill. Because of the seriousness of his illness, he summoned his chief financial controller, Garba Maisikeli and his children. It remains unclear whether Dangote and his associates used their shell companies to buy any such service from Fonseca. But shell companies are not illegal, and not all owners use them to avoid tax or hide assets. Dangote has been repeatedly listed by Forbes for his wealth. Grand Champions Polo Club13444 South Fields RoadWellington, FL 33414. Dantata serves as a Director of Hydro Alternative Energy, Inc. and has been a Non-Executive Director of Nigerian Telecommunications Limited since August 2008. The groups operations span several West African countries, including the Benin, Togo, Cameroon, and Cote dIvoire. The surge in sales can be attributed to the rise in sales in Japan, which soared from less than 855 million ($929 million) in 2022 to almost 1.29 billion ($1.4 billion), along with better-than-expected sales in Europe, despite geopolitical tensions sparked by the Ukraine war. Banana Islands electrical and water systems are underground, theres a central sewage system and treatment plant as well as street lighting and satellite telecommunications networks. Specifically, Dantata, Anil Kumar Ahluwalia and M.R.S Investments Company share same company address Plot 6, Block 2, Osborne Road, Ikoyi, Lagos Island in entities incorporated for them offshore by Mossack Fonseca. Documents show Dantata never sold, transferred his shares or ceased to be a shareholder till date. Oriental Weavers is a leading carpet manufacturer and distributor. In essence, they are corporations that exist mainly on paper, have no physical presence, employ no one and produce nothing. At some point he returned to Bebeji to his religious studies and work. Prior to foundingMRS in 1995, Alhaji Dantata was the Director ofDangote Transport (Dangote Group), Lagos,Nigeria. The island also has three prominent condo developments: Ocean Parade Towers, Bella Vista Towers and Lakepoint Apartments. He was particularly concerned about the company he had established (Alhassan Dantata & Sons). Its illegal to market real estate in anything but naira.". However, he is revered in the growing Nigerian polo community as a patron and also ranks as a strong player. The virus swept through Chinas major financial centers and hubs, such as Shanghai, leading to lockdowns that impacted millions of people. See More, 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. 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. 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$58 million loan the bank granted it to purchase Chevron Texaco in 2008. 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To keep reading for free, please enter your email! Ovlas Trading is co-owned by Sayyu Dantata and Patrice Alberti in the name of Ovlas Trading S.A., for 75 shares with a par value of US$ 100,00 each; and in the name of Karbelina Investments LLC, for 25 shares with a par value of USS 100,00 each. More:Marshan Offers the Very Best of Tangiers Enduring Allure. For many, this did not come as a surprise as Banana Island is largely considered to be on the same level of exclusivity with Saint Germain-des-Prs in Paris, Malibu in California, Beverly Hills in the United States, Burj Khalifa in Dubai and the elegant Calle Serrano in Spain. Nigerian Gas Association. Nigerian billionaire, Aliko Dangote owns the Dangote Group, which has interests in commodities. 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. She survived an assassination attempt in 2003 and is known for her political ambition and affiliations. [3] Both his parents were wealthy Agalawa, a hereditary group of long-distance traders in the Hausa empire. Some others set up shell companies to raise funds before starting operations, to attempt a takeover or as a front for an illegal business. He dealt not only in groundnuts and kola but also in other merchandise. He was buried in his house in the Sarari ward.[2]. The newer ones are more modern, with straight angles, and they are less elongated because they are on less land. Polo has long been a passion for Dantata, who is known to be low-key despite his wealth. "Arellano got the opportunity to play with her brother Lucas, 20, who subbed for Dantata Sr. "It was so much fun today," Arellano said. Sanusi Dantata (c. 1919 - 15 April 1997) was a Nigerian entrepreneur and son of Alhassan Dantata. He has been tagged the most successful politician in Lagos State. ", He said Banana Islands exclusivity always will remain attractive to "the highest echelon of the society.". 26 Jan 2023 06:54:53 He also owns a property on Banana Island, which explains his inclusion on this list. This is true, at least, some of us believe it. Did you know that Dantata and Africas richest man, Aliko Dangote are cousins? He had several advantages over other Kano business men: language, wealth and age. ", He conceded that prices have dropped about 30%, but said that "the economy will improve. 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. His company, Globacom has over 27 million subscribers, which makes it the second largest telecom company in Nigeria. Rupert has taken steps to secure his position in the company, including appointing his son Anton to the board to ensure a long-term strategic vision for the group. They work for multinationals as well as the mega mobile-network operator Etisalat Nigeria; Airtel Nigeria, the provider of prepaid, postpaid mobile and 4G services; Ford Foundation Nigeria, a nonprofit whose mission is to advance human welfare; and the law firm of Olaniwun Ajayi & Co., which all have headquarters there. 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. He graduated in 1979 with a Bachelor of Science degree in Accounting and has been said to have a net worth of N10 trillion. GB Auto, a Cairo-based automaker led by the family of the late Egyptian auto tycoon Raouf Ghabbour, achieved a record-breaking profit of EGP 10.5 billion ($344 million) at the end of its 2022 fiscal year. As an industry leader under the control of the Egyptian Ghabbour family, GB Auto has grown significantly over the years. She owns a property on Banana Island that has been the subject of very many controversies. 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. 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[citation needed], Dantata was still a teenager when the great upheavals occurred in the Kano Emirate from 1893 to 1895. 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. 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. The chunk of his wealth is believed to have been inherited from his father. Beauty and seclusion set Banana Island apart. The dividend payment will result in the family receiving EGP237.8 million ($7.76 million) from their 56.58-percent stake in the company. has changed its name and is now incorporated under the name of PETROWEST S.A. on this 27 day of April 2011. An American-educated mechanical engineer, Dantata returned home to his native Nigeria to begin the energy . 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. Diezani was, however, not officially charged or tried for these allegations and has strongly denied any wrongdoing. Abdullahi was the son of Baba Talatin, it was Baba Talatin who brought the family from Katsina to Madobi in Kano following the death of his father called Ali, Abdullahi continued to operate from Madobi until 1877, when having set out for a journey to Gonja headquarters of Kola nut trade at Ghana, his wife gave birth to Alhassan at the campsite (Zango) of Bebeji, upon his return from the journey he decided to abandon Madobi for Bebeji. There are three mixed-use high-risesthe Adunola, the oldest, and Lakepoint Towers and Desiderata, which were built in the last two years. 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. "I am happy I won," Dantata Jr. said. Of the three condo developments, Ocean Parade is considered the most top-notch, she said, because of its many amenities, which include tennis courts, an Olympic-size pool, two gyms and childrens areas. "Then he gave her to me. Dantata, who is one of Dangote's cousins, is the founder and chairman of MRS Holdings Company Limited. "Most of the owners of single-family homes live here full time, but they also have houses in the U.K. or the U.S..". He was a director of the Nigeria branch of Shell B.P. He holds aBachelors degree in Economics from the ParisAcademy and has been with the MRS Groupsince 2004. 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. Amarya, like her mother-in-law, was a trader of wealth in her own right. "Victoria Island is like Manhattan," Ms. Nouboue said. It was the first time he played against polo great Adolfo Cambiaso. Sayyu Dantata is the billionaire cousin of Alhaji Aliko Dangote, Africas richest man and Chairman of the Dangote Group. Sayyu Dantata. However shell companies are at times used for tax avoidance. 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. Some descendants of Alhassan Dantata includes: "Alhaji Alhassan Dantata, An Appreciation", "Biography of Select Kano Merchants, 18531955", "Alhassan Dantata: Things You Didn't Know About Him", "Meet the wealthy but simple Nigerian merchant behind Dangote's success story", "Biography of Select Kano Merchants, 1853-1955", "Nigerian Tycoon Abdulkadir Dantata Is Dead", https://en.wikipedia.org/w/index.php?title=Alhassan_Dantata&oldid=1135608976, Mahmud Dantata, popularly known as Mamuda Wapa (19221983): son. Tumblr. from penta:Ultra-Low-Mileage Bugatti to be Auctioned in Paris. 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.. "I love it. 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. 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. Three days later he died in his sleep on Wednesday 17 August 1955. Banana Island, which is Nigerias answer to Pariss Seventh Arrondissement, San Diegos La Jolla, New York Citys Tribeca and Tokyos Shibuya and Roppongi, is a small man-made island in the Ikoyi neighborhood of Lagos. "She came from my dad and it was one of my dad's best horses forever," Arellano said. Sayyu Dantata. 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. 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. 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. The 200-million-liter lubricant plant is the first of its kind in West Africa and covers the entire value chain of lubricants. MRS Holding particularly popped up regularly as multiple shareholder company for other companies linked to Dangote and Dantata in Panama. In the same manner, his brother, Dantata, was issued the same amount of 250,000 shares. Below is a list of 9prominent Nigerians who live on Banana Island as well as those who own properties on it. Lubricants: engine oil, industrial oil, transmission oil, marine oil, grease, and specialty lubricants are highly demanded, especially in the automotive and industrial sectors, with the influx of used and new personal and commercial vehicles increasing by the day. Linda is Nigerias celebrated and most popular blogger. This started in 2009 and he has gone on to be named the richest man in Africa; year after year. Her home is unarguably the most talked-about property on Banana Island owing to her status as a celebrity blogger. 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. It is home to Arthouse Contemporary, a local auction house; the Wheatbaker hotel, which holds art exhibits and art-related events; and the Nigerian National Museum, which features the best in Nigerian art. That happened on October 12, 2012. He began his career as Director of the Engineering and Transport Division of Dangote Group, considered the Largest Nigerian conglomerate. Abdullahi's children were too young to manage his considerable wealth. With Mashomack leading 9-8 early in the sixth chukker, Dantata Jr. scored the tying goal with 3:23 left in the game. Other business allies who are shareholders in companies located at Plot 70 Sahrada Industrial Area, Phase 3, Kano, Nigeria, include Ayokunu Tajudeen Sowemimo and Arjun Thadani. 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. We thank you for upholding the principal ethics in journalism when in doubt, check. 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. 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. Apartment buildings, Mr. Onyenze said, come fully stocked with amenities that include fitted kitchens, walk-in-wardrobes, intercom systems, security surveillance systems and standby generators. 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. Nigerian businessman Sayyu Dantata, a cousin of billionaire Aliko Dangote, has launched a $450-million lubricant plant in Lagos through Bestaf Lubricant Limited. 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. 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. An engineer by profession, he started his career as the transport director with his uncles company and rose through the organization. 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. 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. [2] It is said[by whom?] Some established merchants of Kano like Umaru Sharubutu, Maikano Agogo accepted their offer. Dantata could not be reached. 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. He worked for money on Thursdays and Fridays. 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. Built on a beach, it has water views and roads like those in the U.S. [5], Probably after being freed from slavery around 1894, Dantata joined a Gonja-bound caravan to see his mother. We are not responsible for any loss that you may incur as a result of relying on these currency conversions. PATRICE ALBERTI is currently the Vice Chairmanof MRS Group of Companies. 30 %, but said that `` the economy will improve Nigerian and... `` Victoria Island is like Manhattan, '' Dantata Jr. said that impacted millions of people companies... 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