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She was accused of organising a diversion of $6 billion (N1.2 trillion) from the Nigerian treasury and was arrested in London in 2015. First Avenue in the north and Second Avenue in the sound merge and run around its perimeter. 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. "Then he gave her to me. Her home is currently valued at N800 million. 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. But does Dangote pay his fair share of tax in Nigeria or is he hiding assets abroad? That was on April 12 2006. 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 conceded that prices have dropped about 30%, but said that "the economy will improve. Dantata and his brothers were held for ransom, under the threat of slavery. Some of those named in that global investigation were found to have concealed their identities for years and using codes perhaps to shake off tax authorities from accounts, some of which held illicit assets from criminals, traffickers, arms dealers and other outlaws. 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. He is a graduate of Mechanical Engineering from Morris Brown College Atlanta- Georgia, USA. Download Opera News APP, By studio.opera.com (self media writer) | 2 years ago. In 1929, when the Bank of British West Africa opened a branch in Kano, Dantata placed 20 camel-loads of silver coins in it. Of the three condo developments, Ocean Parade is considered the most top-notch, she said, because of its many amenities, which include tennis courts, an Olympic-size pool, two gyms and childrens areas. More:The Beach is Always Close in Cottesloe, by Perth, Australia. BILLIONAIRE businessman, Femi Otedola and Founder of MRS Group, Alhaji Sayyu Dantata, are some of the first set of Nigerian business leaders to pre-order the yet to be released . Central Bank of Nigeria Billionaire Moves as Sayyu Dantata Dazzles Many at Polo Club with His Chopper Lifestyle June 26, 2022 HighLife There will always be several critical differences between the rich and the poor. Some others set up shell companies to raise funds before starting operations, to attempt a takeover or as a front for an illegal business. Ms. Nouboue said that Eko Atlantic City, a 10-district, 10-square-kilometer luxury high-rise community being constructed on Victoria Island on land reclaimed from the Atlantic Ocean, has created a sea change in the Banana Island market even though only the first buildings have been completed. that he used to purchase about half of all the nuts purchased by the United Africa Company in northern Nigeria. Documents show Dantata never sold, transferred his shares or ceased to be a shareholder till date. 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. "I love playing with my brother. It has not impacted the prices in Banana Island significantly, though the fact that there are more options in the luxury market has definitely reduced the high and fast increase of prices that we could have noticed a decade ago. 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. 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. SD Farms will return for a second season.Hippy Chic, a Chestnut mare owned and played by Hope Arellano in the second chukker, was Best Playing Pony. Now you might be familiar with the Dantata family name, but the question is: do you know who Sayyu Dantata is? The lubricant plant has the capacity to produce 1,700 different products and will play a key role in Nigerias economy by boosting youth employment, generating revenue, and reducing the countrys import dependence. 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. He is the Founder and CEO of MRS Holdings Ltd (Formerly, MRS Group). 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. [CDATA[ 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. On his part, Mr. Sowemimo owns 15,000 share units in Capital Development Solutions Limited which is a client company to Orion House Services (HK) Limited operating in Samoa. He has been tagged the most successful politician in Lagos State. For many, this did not come as a surprise as Banana Island is largely considered to be on the same level of exclusivity with Saint Germain-des-Prs in Paris, Malibu in California, Beverly Hills in the United States, Burj Khalifa in Dubai and the elegant Calle Serrano in Spain. newsheadline247-February 9, 2023. 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. 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. 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. The 1.63-million-square-meter sand-filled island in Lagos Lagoon is a little more than 5 miles east of Tafawa Balewa Square, the commercial and ceremonial heart of Lagos. and founder of Sanusi Dantata and sons limited. View profiles of the MRS board and our executive management team. She was also listed as Nigerias Highest Paid Blogger by Forbes in August 2016. 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. The Worlds Best Cross-BorderInvestigative Team, ANCIR is not responsible for the content of external sites | 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. - 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. Diezani was charged with responsibility for $20 billion missing from the Petroleum agency. Below is a list of 9prominent Nigerians who live on Banana Island as well as those who own properties on it. 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When Banana Island was built nearly two decades ago, there was no other luxury spot like it in Nigeria, but it now has competition. Afrex Sal is a client company for Dantata and Dangotes Ovlas Trading based in Monaco France. 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. Many people using offshore companies do so legally and offshore companies indeed have many legal purposes. 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. More:Abu Dhabis Al Reem Island Is a (High-End) Work in Progress. He holds aBachelors degree in Economics from the ParisAcademy and has been with the MRS Groupsince 2004. It is home to Arthouse Contemporary, a local auction house; the Wheatbaker hotel, which holds art exhibits and art-related events; and the Nigerian National Museum, which features the best in Nigerian art. Dantata serves as a Director of Hydro Alternative Energy, Inc. and has been a Non-Executive Director of Nigerian Telecommunications Limited since August 2008. 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 virus swept through Chinas major financial centers and hubs, such as Shanghai, leading to lockdowns that impacted millions of people. As part of a recompilation, Abbas returned the confiscated lands around Kano to the Agalawa families. Shell companies, experts say, are entities that have no active businesses and usually exist only in names as vehicles for another companys business operations. Dantata is the founder and chairman of MRS Holdings Company Limited, one of Nigeria's largest marketers of refined petroleum products like gasoline, marine fuels, and aviation fuels. Richemont ranks as the fourth-largest luxury company globally, boasting a market capitalization of almost $79 billion. "Victoria Island is like Manhattan," Ms. Nouboue said. The club also hosted a full schedule of successful and highly-competitive medium goal tournaments.Grand Champions and Santa Rita Polo Farm is the largest and most unique polo facility, nestled in the heart of the world's winter equestrian capital Wellington. It also offers status. MRS Holding particularly popped up regularly as multiple shareholder company for other companies linked to Dangote and Dantata in Panama. That remains unclear. Despite the famine in Kano in 1914, he quickly dominated the groundnut purchasing business via promotions, loans and contacts. Sayyu Idris Dantata is Former Chairman at Mrs Nigeria PLC. [citation needed], Dantata applied for a licence to purchase and export groundnuts in 1940, on the same level as the United Africa Company. [4] Because of the Agalawa support of Tukur, Dantata and the other Agalawa had their property confiscated and many were captured. Yes! Of this, the facility is expected to deliver about 200 million litres of lubricant per year. is a great place to go on Friday nights," she said. Expect to see much more of him this year. I love her. 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. DPR 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. PAIA Manual | At the time of his death he was the wealthiest man in West Africa. 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. 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. He was buried in his house in the Sarari ward.[2]. "They are very ostentatious and have nice gardens. He purchased some items in Bebeji, he sold half of them on the way and the rest in Accra. His presence as a resident of Banana Island doesnt come as a surprise. However, he is revered in the growing Nigerian polo community as a patron and also ranks as a strong player. But this is just a little scratch on the surface. Suspects who killed Ogun couple, son on New Year's day arrested. Completed in 2000, its a billionaires paradise populated by the countrys richest and most well-known families, who savor its quiet, peaceful atmosphere far from the clamor and crowds of Lagos, the countrys largest city and financial center. Earlier this year, Bestaf Funding secured $300 million (the same amount in question) in the form pre-export finance facility from PAC Capital Limited, the investment banking unit of . There were two claimants to the Kano Emirate when Emir Muhammad Bello died in 1893. 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. Among those accounts were that of Dangote, who became an HSBC private account client in July 2003. 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. This is true, at least, some of us believe it. He pointed to recent reports by the National Bureau of Statistics that indicated that the non-oil sector, which includes construction and real estate, grew by 2.05%, and that the Nigerian recession ended in the fourth quarter of 2017. All property prices are as stated by the listing agent. After graduating from, This page was last edited on 25 January 2023, at 19:11. An engineer by profession, he started his career as the transport director with his uncles company and rose through the organization. from penta:Ultra-Low-Mileage Bugatti to be Auctioned in Paris. Linda is Nigerias celebrated and most popular blogger. The horses make you love them. A dedicated road connects it to a network of roads near Parkview Estate. Sayyu Dantata is the billionaire cousin of Alhaji Aliko Dangote, Africas richest man and Chairman of the Dangote Group. She survived an assassination attempt in 2003 and is known for her political ambition and affiliations. "Banana Island is all about location," she said. House heights were to be capped at three stories. At some point he returned to Bebeji to his religious studies and work. 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. He graduated in 1979 with a Bachelor of Science degree in Accounting and has been said to have a net worth of N10 trillion. This innovation and contact with Europeans helped establish his wealth and future. Nigerian businessman Sayyu Dantata, the stepbrother of billionaire Aliko Dangote, has launched a $450-million lubricant plant in Lagos through Bestaf Lubricant Limited. For the optimum Mansion Global experience, please turn off any ad blockers and refresh this page. Shell companies constitute some of the darkest, sometimes convoluted, corridors in global illicit finance. Sayyu Dantata is the son of Alhassan Dantata who was the wealthiest man in Africa at the time he passed away in 1955. The 200-million-liter lubricant plant is the first of its kind in West Africa and covers the entire value chain of lubricants. Yusufu had been passed over when Bello became Emir. 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. It will not be slowed down in perpetuity. 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. Its by invitation only. On his part, Alhaji Sayyu Dantata, founding Chairman of MRS Group who has preordered 500 copies of the book wants as many aspiring leaders as possible to read the story of the transformation of . PPPRA Given all these factors, he said Banana Islands exclusivity always will remain attractive to "the highest echelon of the society. Nairobi-based entrepreneur Jit Bhattacharyas BasiGo to assemble 1,000 electric buses in Kenya, Egyptian businessman Hisham Talaat Moustafas group pledges $167 million toward community development. Staffs hail billionaire Sayyu Dantata, as he personally flies his chopper to work to beat the Apapa traffic, today, in Lagos. Like in the case of Ovlas S.A, Mr. Dangote suddenly ceased to be shareholder. That means the businessmen simply resold the shares back to themselves. "R.S.V.P. Sayyu Dantata, chairman MRS Oil chairman, has tendered his resignation as chairman of the company. It was a super fun team. Amina has worked in various strata in the oil and gas industry,some of which include retail and marketing, terminal andshipping operations, financial reporting and strategy formulationfor various business entities such as, Marc Rich Investments Ltd,Aurora Energy amongst others. He has 31 years experience gained in shipping, oil trading, supplyoperations, fleet tanker management, maritime claims, andinsurance amongst others from various companies in Italy,Monaco and Nigeria. 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. Some established merchants of Kano like Umaru Sharubutu, Maikano Agogo accepted their offer. 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