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 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. 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. Sayyu Dantata served as a Director at MRS Holdings Ltd (then MRS Group). Thereafter, he moved on to start his own business and now serves as the Chief Executive Officer of the MRS Group. 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. He began his career as Director of the Engineering and Transport Division of Dangote Group, considered the Largest Nigerian conglomerate. Mr. Alhaji Sayyu Idris Dantata is the Founder and Chief Executive Officer of MRS Holdings Ltd (Formerly, MRS Group). He snubbed overvaluation claims which trailed the public listing of Dangote Cement last fall. I chronicle Africa's success stories and track its richest people, he received Nigerian Central Bank approval to invest $4 billion outside the country. He is the Founder and CEO of MRS Holdings Ltd (Formerly, MRS Group). He started his career as the transport director with the . Islamic Reform and Political Change in Northern Nigeria, Northwestern University Mossack Fonseca, the company behind the registration of the shell companies, said it does not direct the companies it incorporates for its clients and therefore cannot be held liable for the uses to which the firms are put. It is dedicated to teaching polo to all ages, particularly grass roots youth. 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 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. 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. -Kola Abiola - son of MKO Abiola - prominent businessman, publisher and politician. The value of the shares is based on prices at the end of trading on August 9, 2011. Not if you saw Sayyu Dantata arrive at his polo club in his $2 million chopper. She is the daughter of late Chief M.K.O Abiola. Dantata started his career as Director of the Engineering and Transport. At the time of his death he was the wealthiest man in West Africa. 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). He is a seasoned mechanical engineer by training. 7 billion ($220.5 million). 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. Alhaji Dantata started his career as Director of the Engineering and Transport Division of Dangote . He supplied large British trading companies with raw materials and also had business interests in the Gold Coast. Were proud of the work we do, notwithstanding recent and willful attempts by some to mischaracterize it.. "I love playing with my brother. "The way he plays, his style, he is just unique. 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. Net Worth: $300 million. Hermans and Bollini each had two goals and Monteverde added one.Dantata was coming off Thursday's Sterling Cup semifinal loss to Valiente. 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. 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. 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. Sayyu Dantata served as a Director at MRS Holdings Ltd (then MRS Group). (1963). 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. 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. Dangote, alongside his half brother, Sayyu Dantata, the founder of MRS Holdings (a leading West African oil-marketing firm, which acquired Chevron-Texacos downstream assets in 2007) bought equal shares of 12,500 each from OVLAS S.A, a shell company registered in Seychelles, on October 6 2003. 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. Many people using offshore companies do so legally and offshore companies indeed have many legal purposes. He is the Director of Hydro Alternative Energy Incorporated. The contact numbers listed on MRS Holdings website failed to connect the several times our reporter called. 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. Anil Kumar Ahluwalia, whose company name is Santosh Investment Limited S.A is connected to a Panama shell company called Lotus Trust Services Sarl. About Sayyu Dantata: Alhaji Sayyu Idris Dantata is the Founder and Chief Executive Officer of MRS Holdings Ltd, formerly known as the MRS Group. Many of Dantatas employees could be heard hailing him as he expertly landed and stepped out. The horses make you love them. Bollini scored the final goal with six seconds left. "I just don't like to lose so I said lets go for Nigeria. 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. After snooping around and asking questions, I found that the mansion located on Banana Island Ikoyi belongs to oil magnate Sayyu Dantata. 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. served as a Director at MRS Holdings Ltd and Transnational Corporation of Nigeria Plc. I love her. Read the full response from Mossack Fonseca, African Network of African Reporting Centres. We thank you for upholding the principal ethics in journalism when in doubt, check. - Sayyu Dantata - Son of Alhassan Dantata - the wealthiest man in West Africa at the time of his death in 1955. Nigerian billionaire and CEO MRS Holdings Ltd, Sayyu Dantata, was recently spotted flying his chopper from Victoria Island in Lagos to Apapa. Education: Morris Brown College, Atlanta-Georgia, USA, Foundation or organization founded: MRS Holdings Ltd (Formerly, MRS Group). The business magnate also served as a Director at MRS Holdings Ltd and Transnational Corporation of Nigeria Plc. Breakdown Of Sayyu Dantata's NSE Fortune. He also serves as a non-executive director of the companys board. He was a director of the Nigeria branch of Shell B.P. The world's premier source of news on Africa's billionaires and UHNWIs. The company's market capitalization has surged by $42 million since the news of the acquisition broke on April 12. She survived an assassination attempt in 2003 and is known for her political ambition and affiliations. In the same manner, his brother, Dantata, was issued the same amount of 250,000 shares. 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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. [READ THIS: SON partners Nigerian Army to actualise vehicle assembly initiative], Ary Berry (@AremuAbayomi5) June 26, 2019. 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. He has a degree in economics and is a certificate holder of the CFA Institutes Investment Foundation Program. Jane I. Guyer. Register for updates and alerts on ANCIR Investigations. Linda is Nigerias celebrated and most popular blogger. 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. His company, Globacom has over 27 million subscribers, which makes it the second largest telecom company in Nigeria. 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. News ), 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. Iyabo Obasanjo, the daughter of Nigerias former President Olusegun Obasanjo also resides on Banana Island. He is the Director of Engineering . Despite several documents linking Dangote to those offshore companies, the businessmans spokesperson insisted he never had any relationship with the offshore entities. 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. Sanusi Dantata (c. 1919 15 April 1997) was a Nigerian entrepreneur and son of Alhassan Dantata. He also owns a property on Banana Island, which explains his inclusion on this list. 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. Overnight on Wall Street is morning in Europe. Shell companies constitute some of the darkest, sometimes convoluted, corridors in global illicit finance. Some people even joked that Lagos may soon start experiencing air gridlocks if these billionaires continue flying their helicopters around. READ ALSO: Oando announces resignation of Non-Executive Directors amidst managerial crises, Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |. CHECK: LANDS FOR SALE IN IKOYI DAVIDO 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. 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. 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. Follow me on Twitter@ EmperorDIV. 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. The companys operations span several West African countries including Benin Republic, Togo, Cameroon and Cote DIvoire. The billionaire recently launched Bestaf Lubricant Plant, a subsidiary of MRS Group. and founder of Sanusi Dantata and sons limited. Dangotes account was in operation till August 2004. Sayyu Dantata, chairman MRS Oil chairman, has tendered his resignation as chairman of the company. Press, 1997. p 65-70. 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. 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 MRS Group had just three staffers at its inception, but today boasts of about two thousand (200) employees on its payroll. The Advance of African Capital: The Growth of Nigerian Private Enterprise, University of Virginia Press. Scholarships are available. Sayyu Idris Dantata, Mrs Nigeria PLC: Profile and Biography - Bloomberg Markets Bloomberg Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg. Some others set up shell companies to raise funds before starting operations, to attempt a takeover or as a front for an illegal business. MRS Holding particularly popped up regularly as multiple shareholder company for other companies linked to Dangote and Dantata in Panama. 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.. 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. Nigerian is a Nigerian politician and the first female President of OPEC. 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. The group's operations span several West African countries, including the Benin Republic, Togo, Cameroon, and . That was on April 12 2006. 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. The billionaire recently launched Bestaf Lubricant Plant, a subsidiary of MRS Group. However, he was forced to sell much of the transport and cattle business by 1947 and later added on real estate. Sayyu Dantata is the son of Alhassan Dantata who was the wealthiest man in Africa at the time he passed away in 1955. Aliko Dangote is widely known for his staggering wealth. [CDATA[ 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. 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. //]]> Marco ensures that all activities carried out in the terminals, areperformed according to highest international standards (API,Ocimf, Isgott). According to Dantata, the plant will not only generate foreign exchange for the country through product exports but also meet the needs of neighbouring countries. Among them are Sayyu Dantata, Aisha Dantata and Mariya Dantata who are listed as shareholders of Koggi Shipping Incorporation with registered location as Plot 688, No 4 Winnipeg Close Street, Maitama, Abuja, Nigeria. 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. Alhaji. Because we do, we have not once in nearly 40 years of operation been charged with criminal wrongdoing. LAST CORPORAL (@ridwan_ashafa) June 25, 2019. 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. 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. Seychelles is a well-known tax haven used by businessmen and politicians and celebrities to perpetrate shady business deals. Binani sues INEC seeks judicial review of declaration, The chain of events that led to Oandos decision to delist. Prior to foundingMRS in 1995, Alhaji Dantata was the Director ofDangote Transport (Dangote Group), Lagos,Nigeria. Owns vast collection of prime real estate in Lagos, including the Landmark Civic Center in Lagos. Now you might be familiar with the Dantata family name, but the question is: do you know who Sayyu Dantata is? The commodities titan reigns supreme in Nigerias capital markets. Both Kumasi and Dantata tried to promote an independent Qadiriyya scholarship and religious authority, challenging the leadership of Kabara. Documents show Dantata never sold, transferred his shares or ceased to be a shareholder till date. Prior to joining MRS Group, he held anumber of positions over a period of 20 years invarious banks in Europe, including BNP Paribasand Banque Arabe International,DInvestissment, Banco Central SA, to mention afew. 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