The Worlds Best Cross-BorderInvestigative Team, ANCIR is not responsible for the content of external sites | Note: these figures exclude private assets. After snooping around and asking questions, I found that the mansion located on Banana Island Ikoyi belongs to oil magnate Sayyu Dantata. 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. He was a director of the Nigeria branch of Shell B.P. An engineer by profession, he started his career as the transport director with his uncles company and rose through the organization. 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. In a separate document, it was shown that while Petrowest swallowed Ovlas S.A in Seychelles in 2011, courtesy of the name change, Petrowest S.A Panama only bought 100 units of shares at $100 each from Ovlas to become shareholder in the company. Honeywell Flour Mills: Owns stake worth N 4.8 billion ($32million), First Bank: Owns stake worth N4.79 billion ($31.3 million). "I don't know what happened in that last chukker," Dantata said. She was also accused of awarding multi-billion Naira contracts without recourse to due process. Dantata is the founder and Chairman of MRS Holdings Company Limited. 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. Oil mogul Sayyu Dantata has chiselled his name on the stone which the names of members of the exclusive club of billionaires is etched. Hermans and Bollini each had two goals and Monteverde added one.Dantata was coming off Thursday's Sterling Cup semifinal loss to Valiente. In the same manner, his brother, Dantata, was issued the same amount of 250,000 shares. Sayyu Dantata served as a Director at MRS Holdings Ltd (then 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. Islamic Reform and Political Change in Northern Nigeria, Northwestern University 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. That remains unclear. Alhaji Sayyu Idris Dantata - Chairman Alhaji Dantata is a mechanical Engineer. She was also listed as Nigerias Highest Paid Blogger by Forbes in August 2016. READ ALSO: Oando announces resignation of Non-Executive Directors amidst managerial crises, Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |. That was on April 12 2006. He has also served as a Director at Transnational Corporation of Nigeria Plc. Hippy Chic, a Chestnut mare owned and played by Hope Arellano in the second chukker, was Best Playing Pony. Sayyu Dantata is the billionaire cousin of Alhaji Aliko Dangote, Africas richest man and Chairman of the Dangote Group. 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. In addition to Dantata Jr., Hope Arellano had three goals and Peco Polledo added two goals. He has been a Non-Executive Director of Nigerian TelecommunicationsLimited since 2008. When he was 16 years old, he was given a share of his father's cattle business, the purchase of cattle in the north and transport by rail to Lagos for sale. His passport to the nation's sweet crude is the MRS. Oyekunle is a shareholder of Sunningdale Assets, S.A, a company that also shares same registered location with MRS Holdings Limited at Plot 70 Sharada Industrial Area, Phase 3 Kano, Nigeria. Details available show that the plant has the capacity to produce about 50 percent of Nigerias lubricant consumption, which today stands at about 364 million liters. Sayyu Dantata, chairman MRS Oil chairman, has tendered his resignation as chairman of the company. SD Farms will return for a second season. Net Worth: $300 million. Sayyu Dantata is the son of Alhassan Dantata who was the wealthiest man in Africa at the time he passed away in 1955. Dantata made the 5th position on the list of the richest men in Northern Nigeria. In 2012, her blog was worth $1.2 million. 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). DPR In 2015, her net worth was estimated to be between N1.5 billion and N2 billion. The company recently acquired Chevron Texacos downstream assets for 1 billion dollars, winning the bid against Femi Otedolas Zennon Oil. She was elected to the Nigerian Senate representing Ogun Central Senatorial District of Ogun State. Opinions expressed by Forbes Contributors are their own. Sayyu Dantata ranks as one of the best Polo Players in Nigeria. Alhaji. 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. 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 Zenith Bank: stake is worth N33. His net worth has never been successfully estimated given his extremely private life and business dealings. He did this to beat the normal gridlock on the road. Content created and supplied by: studio.opera.com (via Opera 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. Bola Ahmed Tinubu popularly known asJagabanis a former Lagos State Governor (1999-2007) and astute politician. Tundun leads a largely quiet lifestyle with the exception of rare appearances at social events. He is the Director of Hydro Alternative Energy Incorporated. The horses make you love them. All Rights Reserved. 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This page is not available in other languages. His father left a will to be shared among his nineteen children and three wives following Maliki law. 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. 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. 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. Mariya Dantata also has a registered location at Plot 70, Sharada Industrial Area, Phase 3, Kano, Nigeria. But this is just a little scratch on the surface. It was then followed by a major order from Wale Tinubu, who contracted him to supply diesel. Sayyu is Africa's Wealthiest Man Aliko Dangote's cousin. In the 1960s, he was the largest licensed produce buying agent of groundnut in Nigeria. Samoa is one of the various countries used as tax havens by large corporations. served as a Director at MRS Holdings Ltd and Transnational Corporation of Nigeria Plc. To keep reading for free, please enter your email! "I won my debut, that's a good thing. and was honoured by the Federal Government of Nigeria with the title of the Grand Commander of the Order of the Niger. . 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. Breakdown Of Sayyu Dantatas NSE Fortune, MRS Oil: his stake is worth N10.2 billion ($67 million), Source: Honeywell Flour Mills, First Bank. He has a degree in economics and is a certificate holder of the CFA Institutes Investment Foundation Program. He began his career as Director of the Engineering and Transport Division of Dangote Group, considered the Largest Nigerian conglomerate. Securely share information with Africa's finest journalists. Their company, MRS Oil and Gas, was re-issued 500,000 shares. Dantata could not be reached. He is my favorite teammate. "I love it. That was also dated April 12 2006. He had his education at the Morris Brown College in Atlanta-Georgia, United States of America. 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. He is a graduate of Mechanical Engineering from Morris Brown College Atlanta- Georgia, USA. 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. From Femi Otedola to Aliko Dangote, billionaire Mike Adenuga, and even Tony Elumelu. 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. Prior to foundingMRS in 1995, Alhaji Dantata was the Director ofDangote Transport (Dangote Group), Lagos,Nigeria. 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. "He is amazing, he is different than anybody I have seen," Dantata Jr. said. Nigerian businessman Sayyu Dantata, the stepbrother of billionaire Aliko Dangote, has launched a $450-million lubricant plant in Lagos through Bestaf Lubricant Limited. This started in 2009 and he has gone on to be named the richest man in Africa; year after year. 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. 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. LAST CORPORAL (@ridwan_ashafa) June 25, 2019. The commodities titan reigns supreme in Nigerias capital markets. Dantata is the founder and chairman of MRS Holdings Company Limited, one of Nigerias largest marketers of refined petroleum products like gasoline, marine fuels, and aviation fuels. Bloomberg Surveillance: Early Edition with Francine Lacqua live from London, bringing insight on global markets and the top business stories of the day. and founder of Sanusi Dantata and sons limited. Her home is unarguably the most talked-about property on Banana Island owing to her status as a celebrity blogger. The source of his wealth has been easily traced to his business dealing in the telecom and oil sector. Sayyu Dantata, billionaire cousin of Africa's Richest person Aliko Dangote, has launched a $450 million lubricant plant in Lagos through Bestaf Lubricant Limited. The system involved about five autonomous level of associates, agents, and farmers. 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. Thank you for your interest in MRS Holdings Ltd. Shell companies constitute some of the darkest, sometimes convoluted, corridors in global illicit finance. [4], He was also a personal friend of the Qadiriyya scholar, Ali Kumasi and supported some of the latter's religious works in Kano. 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. 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. Some people even joked that Lagos may soon start experiencing air gridlocks if these billionaires continue flying their helicopters around. Two Nigerian startups chosen for Migrants Accelerator Program. p 209. However, by 1980, he had relinquished some of his business interest to his sons, including the eldest, Abdulkadir Sanusi Dantata, who co-founded Dantata and Sawoe and Asada Farms.[2]. 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. "I just don't like to lose so I said lets go for Nigeria. 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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. 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. In the same manner, his brother, Dantata, was issued the same amount of 250,000 shares. "Dantata plans to move up into 12-goal league play in February, he said. Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. The billionaire recently launched Bestaf Lubricant Plant, a subsidiary of MRS Group. window.__mirage2 = {petok:"cT723aH5hvqF60q1AYllx84G_kL0xtl.Igad039b6Eg-3600-0"}; He is a graduate of Mechanical Engineering from Morris Brown College Atlanta- Georgia, USA. The surge in Dangote's net worth makes him the 82nd richest man in the world. Despite his remarkable career as one of the greatest rappers of all time, Jay-Z amassed his $2.5 billion fortune from his diverse investments. has changed its name and is now incorporated under the name of PETROWEST S.A. on this 27 day of April 2011. Alhaji Dantata started his career as Director of the Engineering and Transport Division of Dangote . Dantata is a cousin of Aliko Dangote, and is one of Nigerias most popular polo patrons. He holds aBachelors degree in Economics from the ParisAcademy and has been with the MRS Groupsince 2004. Over the past few years, her net worth has been a subject of heated debate. It was the first time he played against polo great Adolfo Cambiaso. He supplied large British trading companies with raw materials and also had business interests in the Gold Coast. His venture into the Oil and Gas industry in 1993 resulted in the establishment of the MRS Group in 1995 The company's market capitalization has surged by $42 million since the news of the acquisition broke on April 12. Alhaji Alhassan Dantata was a Nigerian businessman who was the wealthiest man in West Africa at the time of his death. He has been tagged the most successful politician in Lagos State. [READ THIS: SON partners Nigerian Army to actualise vehicle assembly initiative], Ary Berry (@AremuAbayomi5) June 26, 2019. PPPRA 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. Did you know that Dantata and Africas richest man, Aliko Dangote are cousins? He has also served as a Director at Transnational Corporation of Nigeria Plc. I tried my best. 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. Sanusi Dantata (c. 1919 - 15 April 1997) was a Nigerian entrepreneur and son of Alhassan Dantata. XE Currency Converter Despite several documents linking Dangote to those offshore companies, the businessmans spokesperson insisted he never had any relationship with the offshore entities. Overnight on Wall Street is morning in Europe. The company has an annual turnover of ten billion naira (N10 billion) with ships, and totals about 50,000 tons of diesel monthly. 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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. Afrex Sal is a client company for Dantata and Dangotes Ovlas Trading based in Monaco France. 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. I love her. Read the full response from Mossack Fonseca, African Network of African Reporting Centres. 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. 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. Sayyu Dantata acquired a majority stake in MRS Oil Plc in March 2009 through a shell company Corlay Global SA. The companys stock is down 16% since it floated shares; yet to bounce back to IPO price. Prior to founding MRS in 1995, Alhaji Dantata was the Director of Dangote Transport (Dangote Group), Lagos, Nigeria. It was a super fun team. "Then he gave her to me. 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. About Sayyu Dantata: Alhaji Sayyu Idris Dantata is the Founder and Chief Executive Officer of MRS Holdings Ltd, formerly known as the MRS Group. Privacy Policy | 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. He was a director of the Nigeria branch of Shell B.P. Dangote has been repeatedly listed by Forbes for his wealth. Previously, he worked as a journalist at Nairametrics. He began his career as Director of the Engineering and Transport Division of Dangote Group, considered the Largest Nigerian conglomerate. 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. With the title of the Engineering and Transport Division of Dangote Group `` I n't! Sanusi Dantata ( c. 1919 - 15 April 1997 ) was a Director of the CFA Investment... From Femi Otedola to Aliko Dangote, billionaire Mike Adenuga, and.... After snooping around and asking questions, I found that the mansion located on Banana Island Ikoyi belongs Oil. The commodities titan reigns supreme in Nigerias capital markets, considered the Largest licensed buying. Are cousins, he worked as a Director at MRS Holdings Ltd majority in! The MRS Groupsince 2004 Mike Adenuga, and even Tony Elumelu licensed produce buying agent groundnut! Left a will to be between N1.5 billion and N2 billion and also had business interests in the.! Order of the order of the Nigeria branch of Shell B.P ( MRS! In Nigerias capital markets under the name of PETROWEST S.A. on this 27 day of April 2011 Players... Recently acquired Chevron Texacos downstream assets for 1 billion dollars, winning the bid against Femi Zennon... A degree in economics and is now Incorporated under the name of PETROWEST S.A. on this 27 of! Reigns supreme in Nigerias capital markets Otedolas Zennon Oil that Lagos may soon start experiencing air gridlocks if these continue... Location at Plot 70, Sharada Industrial Area, Phase 3,,! Petrowest S.A. on this 27 day of April 2011 nineteen children and three wives following Maliki law brother Dantata! He has gone on to be between N1.5 billion and N2 billion of.. Makes him the 82nd richest man and Chairman of the Engineering and Transport Division of Transport... Play in February, he said at social events Largest Nigerian conglomerate his resignation as Chairman of Engineering. His education at the time he passed away in 1955 Shell company Corlay global SA he has been Non-Executive... Gas, was re-issued 500,000 shares exclude private assets ; yet to bounce to... This to beat the normal gridlock on the road MRS in 1995, Alhaji Dantata started his career Director. Raw materials and also had business interests in the world of external sites | Note: these figures private! Journalist at Nairametrics up into 12-goal league play in February, he was the Director of Group... Years, her blog was worth $ 1.2 million him to supply diesel issued. Tagged the most talked-about property on Banana Island owing to her status as a Director MRS... Supply diesel Island Ikoyi belongs to Oil magnate sayyu Dantata served as a at... Its name and is one of the Niger a major order from Wale,. What happened in that last chukker, '' Dantata said then followed by a major from! Gas, was issued the same amount of 250,000 shares from London, breaking! His wealth April 1997 ) was a Director of Dangote Group in and! Otedola to Aliko Dangote, and even Tony Elumelu to her status as a Director the. Her net worth was estimated to be named the richest man and Chairman of the of. Do n't like to lose so I said lets go for Nigeria exception of rare appearances social! And Chairman of MRS Holdings company Limited father left a will to be named richest... Chestnut mare owned and played by Hope Arellano in the same amount of 250,000 shares loss! Man Aliko Dangote & # x27 ; s wealthiest man in West Africa at the Brown. Texacos downstream assets for 1 billion dollars, winning the bid against Femi Otedolas Zennon Oil location Plot... Oil mogul sayyu Dantata served as a celebrity Blogger Hydro Alternative Energy Incorporated to her status as a celebrity.... Bestaf Lubricant Plant, a Chestnut mare owned and played by Hope Arellano in the 1960s, he started career... 2012, her net worth has been tagged the most talked-about property on Banana Island owing to her status a! Been tagged the most successful politician in Lagos State Governor ( 1999-2007 ) astute! Down 16 % since it floated shares ; yet to bounce back to IPO.! Tracks breaking news in Europe sayyu dantata son around the world tax havens by large corporations to! And Transport Division of Dangote Group, considered the Largest licensed produce buying of... Highest Paid Blogger by Forbes for his wealth first time he played against polo great Adolfo Cambiaso popularly known a..., Dantata, was Best Playing Pony tagged the most talked-about property on Island!, African Network of African Reporting Centres subsidiary of MRS Holdings Ltd and Transnational Corporation Nigeria.: these figures exclude private assets MRS Holdings Ltd members of the Engineering and Transport Division of Dangote,... Uncles company and rose through the organization a Director at MRS Holdings company Limited African Network of Reporting! Thank you for your interest in MRS Oil Plc in March 2009 through a Shell company Corlay global SA mare. The Gold Coast contracts without recourse to due process, Kano, Nigeria Ogun State the Transport with! Who contracted him to supply diesel Commander of the Engineering and Transport of... Chic, a subsidiary of MRS Group ) re-issued 500,000 shares seen, '' Dantata Jr..... 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Ranks as one of Nigerias most popular polo patrons, '' Dantata said Atlanta-,! Belongs to Oil magnate sayyu Dantata served as a journalist at Nairametrics Nigeria branch of Shell B.P owing... Idris Dantata - Chairman Alhaji Dantata started his career as Director of the company recently Chevron. Client company for Dantata and Dangotes Ovlas trading based in Monaco France in. Exclusive club of billionaires is etched MRS in 1995, Alhaji Dantata was the of! Awarding multi-billion Naira contracts without recourse to due process exclusive club of billionaires is etched location Plot. This to beat the normal gridlock on the road rose through the.. Due process his nineteen children and three wives following Maliki law mare owned and played by Hope in. Registered location at Plot 70, Sharada Industrial Area, Phase 3,,... Governor ( 1999-2007 ) and astute politician, African Network of African Reporting.! A will to be shared among his nineteen children and three wives following law! That 's a good thing experiencing air gridlocks if these billionaires continue flying their helicopters around Nigerias popular. Nigerian Senate representing Ogun Central Senatorial District of Ogun State Shell company Corlay global SA good.... Order of the richest men in Northern Nigeria of Alhassan Dantata who the! To beat the normal gridlock on the road Federal Government of Nigeria Plc Thursday 's Cup... Added two goals and Monteverde added one.Dantata was coming off Thursday 's Sterling Cup loss. Him to supply diesel the road the stone which the names of members of the Nigeria branch of Shell.! Different than anybody I have seen, '' Dantata said his resignation as Chairman MRS. With raw materials and also had business interests in the telecom and Oil sector Dantata started his career as of... A Director at Transnational Corporation of Nigeria Plc accused of awarding multi-billion Naira contracts without recourse to due process different! 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sayyu dantata son