His venture into the Oil and Gas industry in 1993resulted in the establishment of the MRS Group in1995. Education: Morris Brown College, Atlanta-Georgia, USA, Foundation or organization founded: MRS Holdings Ltd (Formerly, MRS Group). He also owns a property on Banana Island, which explains his inclusion on this list. The spokesperson for the Dangote Group, Tony Chiejina, in response to enquiry by Premium Times, said, Thank you for your enquiry concerning our alleged relationship with the following off shore companies namely: Paseo Trading Ltd, Seychelles; Petrowest S.A.,Seychelles; SID Holdings Corp, Panama and Chalmers Shipping Inc, Panama. Spear Magazine. Tom G. Forrest. Before Dangote ceased to be shareholder of M.R.S Oil and Gas Limited, himself, Mr. Dantata and their co-owned company, M.R.S Oil and Gas Co. Limited, was used to buy shares in Petrowest S.A, another company registered in Seychelles on October 6, 2003. 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. Nigerian billionaire, Aliko Dangote owns the Dangote Group, which has interests in commodities. - Sayyu Dantata - Son of Alhassan Dantata - the wealthiest man in West Africa at the time of his death in 1955. He started his career as Director of the Engineering and Transport Division of Dangote Group, the biggest Nigerian conglomerate. He used the inheritance to revive his transport and lorry business. 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. 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. The purpose (s) for which Dangote and his allies set up their own secret companies is not exactly clear. Sanusi Dantata (c. 1919 15 April 1997) was a Nigerian entrepreneur and son of Alhassan Dantata. READ ALSO: Oando announces resignation of Non-Executive Directors amidst managerial crises, Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |. The billionaire recently launched Bestaf Lubricant Plant, a subsidiary of MRS Group. All Rights Reserved. Sayyu Dantata acquired a majority stake in MRS Oil Plc in March 2009 through a shell company Corlay Global SA. Sayyu Dantata comes from a wealthy his surname can prove dad; according to Forbes "Dantata" was once the richest man in Africa just like . MRS Holding particularly popped up regularly as multiple shareholder company for other companies linked to Dangote and Dantata in Panama. Dantata started his career as Director of the Engineering and Transport. That happened on October 12, 2012. Palm Beach Open Cup champion Sayyu Dantata and his SD Farm polo team are set to fly the Nigerian flag as the countdown begins for the World Polo League's star-studded . He began his career as Director of the Engineering and Transport Division of Dangote Group, considered the Largest Nigerian conglomerate. and was honoured by the Federal Government of Nigeria with the title of the Grand Commander of the Order of the Niger. Because we do, we have not once in nearly 40 years of operation been charged with criminal wrongdoing. Shell companies, experts say, are entities that have no active businesses and usually exist only in names as vehicles for another companys business operations. Zenith Bank: stake is worth N33. Sayyu Dantata is the son of Alhassan Dantata who was the wealthiest man in Africa at the time he passed away in 1955. Sign up with your email address to receive news and updates. The business magnate also. According to documents available to Premium Times, on the same day, Dangote was re-issued a higher number of shares 250,000. From Femi Otedola to Aliko Dangote, billionaire Mike Adenuga, and even Tony Elumelu. Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. 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. 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. "I love playing with my brother. It was the first time he played against polo great Adolfo Cambiaso. 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. Sayyu Dantata served as a Director at MRS Holdings Ltd (then MRS Group). Were proud of the work we do, notwithstanding recent and willful attempts by some to mischaracterize it.. He has been tagged the most successful politician in Lagos State. 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. 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. "I just don't like to lose so I said lets go for Nigeria. 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. 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. Caverton releases statement following VPs crash landing], SON partners Nigerian Army to actualise vehicle assembly initiative], Is Forte Oil Plc considering changing its name following acquisition? 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. The 2.6 TB files, involving 214,488 entities, also reveal details about how former gun-runners, contractors and other members of the spy world use offshore companies for personal and private gain. He is the Founder and CEO of MRS Holdings Ltd (Formerly, MRS Group). served as a Director at MRS Holdings Ltd and Transnational Corporation of Nigeria Plc. He now runs Visafone, a Nigerian telecom outfit he founded in 2006. Press, 1997. p 65-70. Dantata is the companys largest individual shareholder, controlling about 60% of the company. He is widely regarded as the presumed winner of the 1993 presidential elections. His company, Globacom has over 27 million subscribers, which makes it the second largest telecom company in Nigeria. Alhaji Sayyu saw the potential for diesel marketing when he first experienced difficulties procuring fuel for his companys huge fleet. 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. [CDATA[ As an entrepreneur and billionaire owner of Globacom, Nigerias second-largest telecom company, Mike Adenuga is a man with luxurious tastes. 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. "I love it. 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. He has also served as a Director at Transnational Corporation of Nigeria Plc. 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. "She came from my dad and it was one of my dad's best horses forever," Arellano said. Download Opera News APP, By studio.opera.com (self media writer) | 2 years ago. Did you know that Dantata and Africas richest man, Aliko Dangote are cousins? Dangote ceased to be shareholder permanently on July 6 2009, and Dantatas number of shares doubled to 500,000 shares while MRS Oil and Gas CO, LTD retained its 500,000 shares. Despite several documents linking Dangote to those offshore companies, the businessmans spokesperson insisted he never had any relationship with the offshore entities. Nigerian businessman Sayyu Dantata, the stepbrother of billionaire Aliko Dangote, has launched a $450-million lubricant plant in Lagos through Bestaf Lubricant Limited. Staff Login In addition to Dantata Jr., Hope Arellano had three goals and Peco Polledo added two goals. 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. His net worth has never been successfully estimated given his extremely private life and business dealings. A few other other allies of Dangote and Dantata were also flagged as shareholders in the shell companies used for their Panama deals. 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. Central Bank of Nigeria 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. Dantata could not be reached. 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). It was a super fun team. 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. with legendary father/son duo of Adolfo Cambiaso and his 14-year-old son Poroto, ready . Linda is Nigerias celebrated and most popular blogger. Anil Kumar Ahluwalia, whose company name is Santosh Investment Limited S.A is connected to a Panama shell company called Lotus Trust Services Sarl. [READ MORE: Caverton releases statement following VPs crash landing], Staff hail billionaire #SayyuDantata, as he personally flies his chopper to work to beat the #Apapa traffic, today, in Lagos, A post shared by Instablog9ja (@instablog9ja) on Jun 25, 2019 at 12:00pm PDT. 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 . Nigeria, Africas most populous nation, is home to some of the richest men on the continent. Business career [ edit] 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. The group's operations span several West African countries, including the Benin Republic, Togo, Cameroon, and . Sayyu Dantata is the billionaire cousin of Alhaji Aliko Dangote, Africas richest man and Chairman of the Dangote Group. Dantata, who is Dangotes stepbrother, is the founder and chairman of MRS Holdings Company Limited. //
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