It is a 200 million-liter lubricant processing plant that is acclaimed as the first of its kind in West Africa and covers the entire value chain of lubricants. XE Currency Converter After her death he focused his attention on new opportunities in Lagos and Kano. It was a super fun team. It also offers status. He asked them not to allow the company to collapse. Diezani was charged with responsibility for $20 billion missing from the Petroleum agency. 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. Suspects who killed Ogun couple, son on New Year's day arrested. ", He conceded that prices have dropped about 30%, but said that "the economy will improve. She was also accused of awarding multi-billion Naira contracts without recourse to due process. "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. However, he is revered in the growing Nigerian polo community as a patron and also ranks as a strong player. Sayyu Dantata. "Arellano got the opportunity to play with her brother Lucas, 20, who subbed for Dantata Sr. "It was so much fun today," Arellano said. "It offers security, tranquility and privacy. WhatsApp. Additionally, the company is developing a pricing strategy with alternative product offerings. In the same manner, his brother, Dantata, was issued the same amount of 250,000 shares. 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. 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. At some point he returned to Bebeji to his religious studies and work. Ten of the richest businessmen in Ethiopia most of whom youve likely never heard of, Abdul Samad Rabiu becomes Nigerias second-richest man, net worth surges above $7 billion, African billionaire heirs are making their mark in philanthropy, Billionaire mining mogul Patrice Motsepe acquires luxury wine farm in South Africa, Egyptian billionaire Naguib Sawiris Orascom Investment sells stake in TWA in $35-million deal, Mohammed Akoojees Imperial Logistics partners with UbiPharm to create Africas largest healthcare distribution network, Sam Darwishs IHS Towers to acquire tower assets in Brazil in $315-million deal. Staffs hail billionaire Sayyu Dantata, as he personally flies his chopper to work to beat the Apapa traffic, today, in Lagos. Among those accounts were that of Dangote, who became an HSBC private account client in July 2003. 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. Oriental Weavers, led by Khamis and other family members of the late Mohammed Farid Khamis, is a prominent carpet manufacturer and distributor with active operations in about 150 countries worldwide. Built on a beach, it has water views and roads like those in the U.S. He was buried in his house in the Sarari ward.[2]. He began his career as Director of the Engineering and Transport Division of Dangote Group, considered the Largest Nigerian conglomerate. He holds aBachelors degree in Economics from the ParisAcademy and has been with the MRS Groupsince 2004. //]]> Despite experiencing a single-digit 5.2-percent decrease in revenue during the review period, the groups profit skyrocketed by an astounding 496 percent, surging from EGP 1.77 billion ($57.8 million) in 2021 to EGP 10.54 billion ($344.2 million) in 2022. 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. - Sayyu Dantata - Son of Alhassan Dantata - the wealthiest man in West Africa at the time of his death in 1955.-Kola Abiola - son of MKO Abiola - prominent businessman, publisher and politician. "I don't know what happened in that last chukker," Dantata said. "The way he plays, his style, he is just unique. 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 is the founder and Chairman of MRS Holdings Company Limited. An American-educated mechanical engineer, Dantata returned home to his native Nigeria to begin the energy conglomerate that became MRS Holdings, growing it into one of the nations largest companies. Thank you for your interest in MRS Holdings Ltd. 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. Polo has long been a passion for Dantata, who is known to be low-key despite his wealth. founder and chairman of MRS Holdings Company Limited, nine-month period ending December 31, 2022. GB Auto is a Cairo-based automaker led by the family of the late Egyptian auto tycoon Raouf Ghabbour. Content created and supplied by: studio.opera.com (via Opera His venture into the Oil and Gas industry in 1993resulted in the establishment of the MRS Group in1995. "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. Alike Dangote's stepbrother Sayyu Dantata launches $450-million lubricant plant in Lagos. Despite an impressive 16.2-percent increase in revenue from EGP11.4 billion ($372.1 million) to EGP13.26 billion ($432.9 million), the Khamis-led company experienced a nearly 22-percent profit decline from EGP1.21 billion ($39.4 million) in 2021 to EGP944.17 million ($30.8 million) in 2022. Consciously or unconsciously the essence of everything we do in life is to derive or to attain fullness of happiness. In addition to Dantata Jr., Hope Arellano had three goals and Peco Polledo added two goals. Richemont ranks as the fourth-largest luxury company globally, boasting a market capitalization of almost $79 billion. After graduating from, This page was last edited on 25 January 2023, at 19:11. Mr. Onyenzeconceded that prices have dropped about 30% in the lastthree-and-a-half years because of a combination of factors, including the devaluation of the naira, decreased prices for crude oil, inflation, high interest rates, job cuts and divestment by multinational organizations from the Nigerian economy. Alhaji Dantata started his career as Director of the Engineering and Transport Division of Dangote . Sayyu Dantata is the son of Alhassan Dantata who was the wealthiest man in Africa at the time he passed away in 1955. ALL RIGHTS RESERVED.1211 AVE OF THE AMERICAS NEW YORK, NY 10036 | info@mansionglobal.com. "Banana Island is all about location," she said. ", He said Banana Islands exclusivity always will remain attractive to "the highest echelon of the society.". Ikoyi also is a shopping destination. Marco ensures that all activities carried out in the terminals, areperformed according to highest international standards (API,Ocimf, Isgott). He purchased some items in Bebeji, he sold half of them on the way and the rest in Accra. His son, Alhaji Aminu Dantata and his grandchildren like Hajiya Mariya Sunusi Dantata as well as his great-grandchildren, Aliko Dangote still finance pilgrimages of other Muslims to Mecca every year. Nigerian businessman Sayyu Dantata, a cousin of billionaire Aliko Dangote, has launched a $450-million lubricant plant in Lagos through Bestaf Lubricant Limited.. Dantata, who is one of Dangote's cousins, is the founder and chairman of MRS Holdings Company Limited.The group's operations span several West African countries, including the Benin, Togo, Cameroon, and Cote d'Ivoire. The first homes were built on the south side of the island, but as land prices skyrocketed through the years, high-rise condo developments were built on the north side, which also houses the areas commercial corridor. In essence, they are corporations that exist mainly on paper, have no physical presence, employ no one and produce nothing. In 195354 he became a licensed buying agent, which allowed him to sell directly to the Nigerian Groundnut Marketing board instead of another firm. She's turned into one of my best horses. Dantata, who is one of Dangote's cousins, is the founder and chairman of MRS Holdings Company Limited. He did not own a house there, but was satisfied with the accommodation given to him by his patoma (landlord). Of this, the facility is expected to deliver about 200 million litres of lubricant per year. Sayyu Dantata is the son of Alhassan Dantata who was the wealthiest man in Africa at the time he passed away in 1955. Documents show Dantata never sold, transferred his shares or ceased to be a shareholder till date. After her husband's death, she decided to leave Bebeji for Ghana, where she had commercial interests. This literary means they resold the shares back to themselves. 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. 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. . Owners create Shell companies for a host of dodgy business reasons. Alhassan Dantata (1877 17 August 1955)pronunciation was a Northern Nigerian trader in kola nuts and ground nuts, and he was a distributor of European goods. Tukur received his religious training from a Tijaniyya scholar and received the support of the Agalawa. She owns a property on Banana Island that has been the subject of very many controversies. We only incorporate companies, which just about everyone acknowledges is important, and something thats critical in ensuring the global economy functions efficiently. Mike Adenuga, the billionaire owner of Globacom, the countrys second largest telecom operator and of the oil exploration firm Conoil, lives on the island, according to Ms. Nouboue and published reports. Her blog currently enjoys a daily visit of between 100,000 to 250,000 visits from over 180 countries. 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. 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. Dangote was hurled into prominence when Forbes listed him as one of the richest men in the world. Anil Kumar Ahluwalia, whose company name is Santosh Investment Limited S.A is connected to a Panama shell company called Lotus Trust Services Sarl. But he said that hes optimistic that "the economy will improve. Everyone wants smaller homes because their kids leave and more people are selling their mansions to live in three-bedroom flats, where they dont have to worry about maintenance and using a generator for electricity. "I am happy I won," Dantata Jr. said. But does Dangote pay his fair share of tax in Nigeria or is he hiding assets abroad? After a rest of only one day, she took him to a mallam and asked Dantata to stay there until he was ready to return to Bebeji. 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. There were two claimants to the Kano Emirate when Emir Muhammad Bello died in 1893. Alhassan Dantata (1877 - 17 August 1955) pronunciation was a Northern Nigerian trader in kola nuts and ground nuts, and he was a distributor of European goods. 26 Jan 2023 06:54:53 Beauty and seclusion set Banana Island apart. 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. 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. 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. Basically, the [] "R.S.V.P. He was also a good financial manager. Dantata stated that the plant will not only generate foreign exchange for the country through product exports but also meet the needs of neighboring countries. To get to the island, you have to pass through a security gate. He has an estimated net worth of $4.1 billion and the figures continue to soar. He urged them to avoid clashes with other wealthy Kano merchants. 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. Below is a list of 9prominent Nigerians who live on Banana Island as well as those who own properties on it. 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. that he used to purchase about half of all the nuts purchased by the United Africa Company in northern Nigeria. He told them that his days were approaching their end and advised them to live together. "It looks more like Miami, and the ex-pats are starting to like it more," she said, adding that the project is due to be completed in about 15 years. The virus swept through Chinas major financial centers and hubs, such as Shanghai, leading to lockdowns that impacted millions of people. Privacy Policy | His mother, who had never remarried, died in Accra around 1908. 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. Oriental Weavers, a prominent carpet manufacturer based in Egypt and led by accomplished business tycoon and executive Yasmine Khamis, faced a decline in profits below the EGP950 million ($31 million) mark at the end of its 2022 fiscal year. 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. At least 100,000 secret bank account operators who owned about $100 billion were exposed in the leaks, unsettling investigators in several countries. He was a director of the Nigeria branch of Shell B.P. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. But this is just a little scratch on the surface. His passport to the nation's sweet crude is the MRS. In some cases, the issues have had to do with his personal life, while at other times it had to do with his business. "Then he gave her to me. Yes! [6], Dantata maintained a house in Bebeji and had no property in the larger trading town of Kano. But in an arrangement that seems curious, Dangote was issued a higher amount of shares 250,000 on the same day he resigned. Our reputation is paramount to us and we are conscious of the downside of it. Business career [ edit] The significant decline in the companys profits can be primarily attributed to the surge in raw material costs, including wool, polypropylene, backing, and finishing materials. Ovlas Trading is co-owned by Sayyu Dantata and Patrice Alberti in the name of Ovlas Trading S.A., for 75 shares with a par value of US$ 100,00 each; and in the name of Karbelina Investments LLC, for 25 shares with a par value of USS 100,00 each. Because we do, we have not once in nearly 40 years of operation been charged with criminal wrongdoing. 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. [CDATA[ Unlike other established Kano merchants, he was in his mid-thirties, with a small family and retinue to support. Kola Abiola is one of Nigerias low-key millionaires. See Sayyu Idris Dantata's compensation, career history, education, & memberships. 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.. Residents also are attracted to the high-tech infrastructure on the island thats not available in the rest of the country. Some established merchants of Kano like Umaru Sharubutu, Maikano Agogo accepted their offer. [citation needed], Dantata made a pilgrimage (hajj) to Mecca via boat in the 1920s. PAIA Manual | Leave Application has changed its name and is now incorporated under the name of PETROWEST S.A. on this 27 day of April 2011. More:Abu Dhabis Al Reem Island Is a (High-End) Work in Progress. Correction: An earlier version of this text stated that Sayyu Dantata is Aliko Dangotes cousin. Seychelles is a well-known tax haven used by businessmen and politicians and celebrities to perpetrate shady business deals. His company, Globacom has over 27 million subscribers, which makes it the second largest telecom company in Nigeria. "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..". //
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