Breakdown Of Sayyu Dantatas NSE Fortune, MRS Oil: his stake is worth N10.2 billion ($67 million), Source: Honeywell Flour Mills, First Bank. "He is amazing, he is different than anybody I have seen," Dantata Jr. said. p 209. That remains unclear. 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. He graduated in 1979 with a Bachelor of Science degree in Accounting and has been said to have a net worth of N10 trillion. His venture into the Oil and Gas industry in 1993resulted in the establishment of the MRS Group in1995. Every time I see horses I just want to go and spend time with them. The billionaire recently launched Bestaf Lubricant Plant, a subsidiary of MRS Group. The company's market capitalization has surged by $42 million since the news of the acquisition broke on April 12. Marco ensures that all activities carried out in the terminals, areperformed according to highest international standards (API,Ocimf, Isgott). Dantata made the 5th position on the list of the richest men in Northern Nigeria. and founder of Sanusi Dantata and sons limited. [1] and was honoured by the Federal Government of Nigeria with the title of the Grand Commander of the Order of the Niger. Spear magazine (a Daily Times Publication), P. 23. AMINA MAINA oversees all trading, supply, and operations of thegroups activities spanning over 6 countries, including Nigeria. The chopper is reportedly worth about N722 million. 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. 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. I just went in wanting to do my best and play hard. Dantata owns MRS Petroleum. It was the first time he played against polo great Adolfo Cambiaso. Their company MRS Oil and Gas was re-issued 500,000 shares. Net Worth: $300 million. Mr. Alhaji Sayyu Idris Dantata is the Founder and Chief Executive Officer of MRS Holdings Ltd (Formerly, MRS Group). In its suit, Union Bank alleged that in a bid to evade payment of the loan, Sani Dangote made efforts to deplete funds in his accounts by diverting them to Dubai, Canada and Switzerland. Dangote and Dantata bought equal shares of 12,500 each from Petrowest S.A. MRS Oil and Gas Co. Ltd also bought 25,000 numbers of shares from Petrowest, just as was done with OVLAS S.A. Again, three years after they existed as shareholders, the trio Dangote, Dantata and M.R.S Oil and Gas Company Limited ceased to be shareholders in the company. It has been said that his half-brother, Aliko Dangote, was the one who paid his fees. Thank you for your interest in MRS Holdings Ltd. The chunk of his wealth is believed to have been inherited from his father. Below is a list of 9prominent Nigerians who live on Banana Island as well as those who own properties on it. Mr. Sayyu I. Dantata is the Founder and Chief Executive Officer of MRS Holdings Ltd (Formerly, MRS Group). Nigerian is a Nigerian politician and the first female President of OPEC. 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. While other people's fortunes wax and wane according to. Nigerian businessman Sayyu Dantata, the stepbrother of billionaire Aliko Dangote, has launched a $450-million lubricant plant in Lagos through Bestaf Lubricant Limited. Some people even joked that Lagos may soon start experiencing air gridlocks if these billionaires continue flying their helicopters around. MRS Oil: his stake is worth N10.2 billion ($67 million) Oba Otudeko 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. The Nation. Sayyu Dantata ranks as one of the best Polo Players in Nigeria. and founder of Sanusi Dantata and sons limited. (1877-Aug 17th 1955). Opinions expressed by Forbes Contributors are their own. The son of the slain businessman, politician, publisher and winner of the 1993 presidential elections in Nigeria, M.K.O Abiola. 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. Monitor your investments 24 hours a day, around the clock from around the globe. READ ALSO: Oando announces resignation of Non-Executive Directors amidst managerial crises, Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |. Here is a video of Sayyu Dantata flying his new $2m Helicopter-Chopper from the MRS Head Office in VI to his warehouses in Apapa. 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 is the Founder and CEO of MRS Holdings Ltd (Formerly, MRS Group). Its' mission is to provide individuals opportunities in polo at every economic and ability level. Shell companies constitute some of the darkest, sometimes convoluted, corridors in global illicit finance. 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? Follow me on Twitter@ EmperorDIV. It's definitely different playing mixed polo but I love it.". 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. 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. That was also dated April 12 2006. 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.. MRS is a non-discriminatory, equal employer, providing gender equal opportunities and remuneration that is competitive within the industry. View profiles of the MRS board and our executive management team. Download Opera News APP, By studio.opera.com (self media writer) | 2 years ago. Previously, he worked as a journalist at Nairametrics. Dangotes account was in operation till August 2004. Islamic Reform and Political Change in Northern Nigeria, Northwestern University 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 net worth has never been successfully estimated given his extremely private life and business dealings. He began his career as Director of the Engineering and Transport Division of Dangote Group, considered the Largest Nigerian conglomerate. 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. Sayyu Dantata acquired a majority stake in MRS Oil Plc in March 2009 through a shell company Corlay Global SA. 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. 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. 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. 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 From the look of things Lagos road hold up will now switch to airspace hold up. 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. He added that the launch of the new facility will drive the production of 200 million liters of lubricant per year, which is more than enough to cover 50 percent of the countrys annual consumption. Content created and supplied by: studio.opera.com (via Opera Anil Kumar Ahluwalia, whose company name is Santosh Investment Limited S.A is connected to a Panama shell company called Lotus Trust Services Sarl. 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. She owns a property on Banana Island that has been the subject of very many controversies. 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. His father left a will to be shared among his nineteen children and three wives following Maliki law. Dangote was hurled into prominence when Forbes listed him as one of the richest men in the world. Sayyu Dantata is a creator and CEO of MRS Holding Ltd. Over the years, he has managed to build himself a fantastic career thus acquiring the stunning contemporary style mansion located in the billionaires' playground of Banana Island Ikoyi that costs millions of dollars. 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. Of this, the facility is expected to deliver about 200 million litres of lubricant per year. But dont feel sorry for him: Ovia still remains the banks largest individual shareholder, controlling nearly 10%. The source of his wealth has been easily traced to his business dealing in the telecom and oil sector. He was a director of the Nigeria branch of Shell B.P. Alhaji Alhassan Dantata was a Nigerian businessman who was the wealthiest man in West Africa at the time of his death. They are frequently used to shield the identities of owners and/or to hide money. 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. (adsbygoogle = window.adsbygoogle || []).push({}); You have entered an incorrect email address! has changed its name and is now incorporated under the name of PETROWEST S.A. on this 27 day of April 2011. In the same manner, his brother, Dantata, was issued the same amount of 250,000 shares. 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. He is largely regarded as being socially invisible and this stems from the low profile he has maintained over the years. 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. An engineer by profession, he started his career as the transport director with his uncles company and rose through the organization. Others like Sayyu Dantata however are the new kids on the block. Sayyu Dantata's $450 million Bestaf lubricant plant. Nigeria currently consumes about 250 million litres of engine oil per year, and this consumption grows by more than five percent every year due to the addition of new vehicles and machinery. 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. The system involved about five autonomous level of associates, agents, and farmers. From Femi Otedola to Aliko Dangote, billionaire Mike Adenuga, and even Tony Elumelu. 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 . Mechanical Engineering from Morris Brown College Atlanta- Georgia, USA. MARCO STORARI manages all aspects of oil storage terminalsoperations at MRS Terminals in West Africa which is over 350,000m3 storage depots. 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. A few other other allies of Dangote and Dantata were also flagged as shareholders in the shell companies used for their Panama deals. The lubricant plant, which is located at Tincan Island in Apapa, Lagos, is set to contribute immensely to Nigerias economy and will boost employment, generate revenue, and reduce the countrys import dependence. 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. He is a seasoned mechanical engineer by training. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. 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. I tried my best. Scholarships are available. 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. Please contact us using the information below. 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. The young Alhassan was brought up in the care of an old slave woman, who was known as "Tata" from which circumstance young Alhassan became known as Alhassan Dantata because of her role as his mother. The account appeared in the name of Development Projects Corporation, its registration address in Tortola, in the British Virgin Islands, a notorious tax haven, where individuals and corporations usually incorporate shell companies to hide assets. 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. Sayyu Dantata is the son of Alhassan Dantata who was the wealthiest man in Africa at the time he passed away in 1955. 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). Leave Application "Dangote / Dantata Dynasties: How a Family of Billionaires was built ( Exclusive )", "The Nigerian Millionaires" at TIME Magazine, Article Aliko Dangote, mentioning Dantata's influence, https://en.wikipedia.org/w/index.php?title=Sanusi_Dantata&oldid=1148997046, This page was last edited on 9 April 2023, at 14:56. But in an arrangement that seems curious, Dangote was issued a higher amount of shares 250,000 on the same day he resigned. Dantata was also charitable, by 1963, he was spending about 40,000 pounds each year in credit to friends and the poor and provided funds to each of his children and in-laws. 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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. She is the daughter of late Chief M.K.O Abiola. 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. He was a director of the Nigeria branch of Shell B.P. His company, Globacom has over 27 million subscribers, which makes it the second largest telecom company in Nigeria. She lived in the United States for many years before finally relocating to Nigeria. 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. Omooo com see level ?. Oluwa shine ur blessing on me. 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. They have had to buy diesel from foreign firms who were then receiving allocations despite having no offices of their own in the country. He was in the real estate and groundnut business when his father died in 1955. [4], He was also a personal friend of the Qadiriyya scholar, Ali Kumasi and supported some of the latter's religious works in Kano. 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. Central Bank of Nigeria "She came from my dad and it was one of my dad's best horses forever," Arellano said. Sayyu Dantata is the billionaire cousin of Alhaji Aliko Dangote, Africas richest man and Chairman of the Dangote Group. Earlier this month, he received Nigerian Central Bank approval to invest $4 billion outside the country. 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. Her home is unarguably the most talked-about property on Banana Island owing to her status as a celebrity blogger. She was elected to the Nigerian Senate representing Ogun Central Senatorial District of Ogun State. PPPRA In essence, they are corporations that exist mainly on paper, have no physical presence, employ no one and produce nothing. Through his holding company, Dangote owns about 95% of the companys equity. 2023 Billionaires.Africa. 'Alhaji Dantata A Man of Means'. 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. Sayyu Dantata. 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. This literary means they resold the shares back to themselves. Note: these figures exclude private assets. Alhaji Sayyu saw the potential for diesel marketing when he first experienced difficulties procuring fuel for his companys huge fleet. Sayyu Dantata served as a Director at MRS Holdings Ltd (then MRS Group). Ancestors and Heritage Dantata's father was Abdullahi, a man from the village of Danshayi, near Kano. 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 . However, he was forced to sell much of the transport and cattle business by 1947 and later added on real estate. Polo at every economic and ability level magazine ( a Daily Times Publication ), P. 23 of Chief. In polo at every economic sayyu dantata son ability level issued a higher amount of shares on... Studio.Opera.Com ( self media writer ) | 2 sayyu dantata son ago remains the banks largest individual shareholder controlling. 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