sayyu dantata son
Every time I see horses I just want to go and spend time with them. However, by the early 1970s, both men joined the Kabara faction of Kano Qadiriyya.[5]. Bola Ahmed Tinubu popularly known asJagabanis a former Lagos State Governor (1999-2007) and astute politician. 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. 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. Oba Otudeko, a former banker and renowned boardroom guru, owns a 15.4% stake in Honeywell Flour Mills, an NSE-listed entity which is part of the largely private Honeywell Group-a diversified conglomerate with tentacles in everything from oil marketing to food production, engineering services and finance. Many of Dantatas employees could be heard hailing him as he expertly landed and stepped out. 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. 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. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. The groups operations span several West African countries, including the Benin, Togo, Cameroon, and Cote dIvoire. Honeywell Flour Mills: Owns stake worth N 4.8 billion ($32million), First Bank: Owns stake worth N4.79 billion ($31.3 million). wealth and financial magazine, Forbes namedBanana Islandin Lagos as themost expensive neighbourhoodand place to live in Nigeria. 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. All Rights Reserved. He used the inheritance to revive his transport and lorry business. 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. Bollini scored the final goal with six seconds left. Dangotes account was in operation till August 2004. The M.R.S Investments Companies mentioned earlier is a subsidiary of MRS Holdings. MRS is a non-discriminatory, equal employer, providing gender equal opportunities and remuneration that is competitive within the industry. 7 billion ($220.5 million). 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. 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. Owners create Shell companies for a host of dodgy business reasons. But in an arrangement that seems curious, Dangote was issued a higher amount of shares 250,000 on the same day he resigned. Breakdown Of Sayyu Dantata's NSE Fortune. Dantata, who is Dangotes stepbrother, is the founder and chairman of MRS Holdings Company Limited. Both Kumasi and Dantata tried to promote an independent Qadiriyya scholarship and religious authority, challenging the leadership of Kabara. - Sayyu Dantata - Son of Alhassan Dantata - the wealthiest man in West Africa at the time of his death in 1955. Follow me on Twitter@ EmperorDIV. Dangote is pursuing international expansion. The companys stock is down 16% since it floated shares; yet to bounce back to IPO price. Zenith Bank: stake is worth N33. Follow us on Twitter @dailyfamilyng AMINA MAINA oversees all trading, supply, and operations of thegroups activities spanning over 6 countries, including Nigeria. Nigeria, Africas most populous nation, is home to some of the richest men on the continent. 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. Sanusi Dantata (c. 1919 15 April 1997) was a Nigerian entrepreneur and son of Alhassan Dantata. Download Opera News APP, By studio.opera.com (self media writer) | 2 years ago. He graduated in 1979 with a Bachelor of Science degree in Accounting and has been said to have a net worth of N10 trillion. A former bank chief, Egwuenu is the second largest individual shareholder of the Zenith Bank Group. In essence, they are corporations that exist mainly on paper, have no physical presence, employ no one and produce nothing. Hippy Chic, a Chestnut mare owned and played by Hope Arellano in the second chukker, was Best Playing Pony. Omokolade is a seasoned financial analyst and reporter with in-depth knowledge of and expertise in equity markets, and financial and economic analysis. Its' mission is to provide individuals opportunities in polo at every economic and ability level. Owns vast collection of prime real estate in Lagos, including the Landmark Civic Center in Lagos. After three years of holding the shares, they all ceased to be shareholders. She obtained a B.Sc in Business Administration from the AhmaduBello University, Zaria, Nigeria in 1998. 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. At the time of his death he was the wealthiest man in West Africa. 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. Note: these figures exclude private assets. 2023 Billionaires.Africa. READ ALSO: Oando announces resignation of Non-Executive Directors amidst managerial crises, Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |. Prior to foundingMRS in 1995, Alhaji Dantata was the Director ofDangote Transport (Dangote Group), Lagos,Nigeria. [1] Mr. Alhaji Sayyu Idris Dantata is the Founder and Chief Executive Officer of MRS Holdings Ltd (Formerly, MRS Group). 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. He was in the real estate and groundnut business when his father died in 1955. He is currently the Chairman of the MRS Group ofcompanies, Petrowest Trading S A, PetrowestServices Geneva and Corlay Global S Aleveraging on over 20 years of experience inthe downstream petroleum industry inNigeria. 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. Iyabo Obasanjo, the daughter of Nigerias former President Olusegun Obasanjo also resides on Banana Island. Dangote and Dantata have allegedly used their multiple companies in Nigeria and other countries to secure huge loans. "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. 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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. Register for updates and alerts on ANCIR Investigations. He is the Founder and CEO of MRS Holdings Ltd (Formerly, MRS Group). He began his career as Director of the Engineering and Transport Division of Dangote Group, considered the Largest Nigerian conglomerate. His net worth has never been successfully estimated given his extremely private life and business dealings. Breakdown Of Sayyu Dantatas NSE Fortune, MRS Oil: his stake is worth N10.2 billion ($67 million), Source: Honeywell Flour Mills, First Bank. Some even pointed out that this might be the season of helicopters, even as wealthy Nigerians continue to showcase their opulence. While a vast majority of Nigerias wealthiest businessmen spurn the capital markets, preferring to build their fortunes through privately-held companies, the Nigerian Stock Exchange still accounts for a substantial portion of the wealth of a number of the countrys richest individuals. The billionaire recently launched Bestaf Lubricant Plant, a subsidiary of MRS Group. Alhaji Sayyu Idris Dantata - Chairman Alhaji Dantata is a mechanical Engineer. In the same manner, his brother, Dantata, was issued the same amount of 250,000 shares. She owns a property on Banana Island that has been the subject of very many controversies. 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 Opinions expressed by Forbes Contributors are their own. Will Apollo Offer THG a Route Out of Its Troubles? The company has an annual turnover of ten billion naira (N10 billion) with ships, and totals about 50,000 tons of diesel monthly. One of such men is Sayyu Idris Dantata. (adsbygoogle = window.adsbygoogle || []).push({}); You have entered an incorrect email address! 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.. 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). 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]. At least 100,000 secret bank account operators who owned about $100 billion were exposed in the leaks, unsettling investigators in several countries. Securely share information with Africa's finest journalists. Sayyu Dantata's $450 million Bestaf lubricant plant. Having studied the complex allocation process, he set up MRS Oil in 1995 with an initial 5-million-naira startup capital. ALHAJI SAYYU DANTATA is a mechanical engineerby training having attended the Morris BrownCollege in Atlanta, Georgia, USA. Others like Sayyu Dantata however are the new kids on the block. 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. I chronicle Africa's success stories and track its richest people, he received Nigerian Central Bank approval to invest $4 billion outside the country. The lubricant plant comes with a capacity to produce as many as 1,700 different products in the petroleum chain. In what appears a plot to blur the trace to the Ovlas in Seychelles, the shareholders quickly filed for a change of name to Petrowest S.A. A document seen by Premium Times, reads Republic of Seychelles, INTERNATIONAL BUSINESS COMPANIES ACT, 1994Company No: 018606, This is to certify that OVLAS SA. Using data-mining techniques and working in collaboration with a global network of investigators with access to secret databases, Premium Times was able to uncover several Nigerian business players associated with shell companies. 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. 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. Mechanical Engineering from Morris Brown College Atlanta- Georgia, USA. Bloomberg Surveillance: Early Edition with Francine Lacqua live from London, bringing insight on global markets and the top business stories of the day. 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. 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. 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 . He also serves as a non-executive director of the companys board. 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