He is the Founder and CEO of MRS Holdings Ltd (Formerly, MRS Group). "Its elegant, and they invite the biggest DJs in the world. 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. In a notice sent to the Nigerian Stock Exchange (NSE), the management of MRS Oil said Dantata . They work for multinationals as well as the mega mobile-network operator Etisalat Nigeria; Airtel Nigeria, the provider of prepaid, postpaid mobile and 4G services; Ford Foundation Nigeria, a nonprofit whose mission is to advance human welfare; and the law firm of Olaniwun Ajayi & Co., which all have headquarters there. "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..". "R.S.V.P. He was also a good financial manager. "Banana Island is all about location," she said. 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. Exclusive shops include the handbag purveyor Zashadu, the high-fashion clothier named for the Nigerian designer Ejiro Amos Tafiri, and the functional/fashionable clothing designs of Grey. His presence as a resident of Banana Island doesnt come as a surprise. 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. 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. 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. 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. 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. It remains unclear whether Dangote and his associates used their shell companies to buy any such service from Fonseca. [CDATA[ Africas richest man, Aliko Dangote, and his brother Sayyu Dantata have been linked to shell companies in tax havens, writes Joshua Olufemi and Emmanuel Mayah. Terms of Use, ANCIR is being incubated by Code for Africa. [2] It is said[by whom?] In addition, Sayyu Dantata owns a total of 25 million units of shares in Corlay Global S.A, a company that is a client to Afrex Sal and also located at Plot 70, Sharada Industrial Area, Phase 3 Kano, Nigeria. 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. By Godwin Oritse. 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. The remarkable surge in profit by triple digits can be directly attributed to two key factors: the sale of GB Lease, the groups leasing business, and its 7.5-percent stake in MNT-Halan, a prominent fintech firm led by Egyptian entrepreneur Mounir Nakhla. Their company MRS Oil and Gas was re-issued 500,000 shares. Bollini scored the final goal with six seconds left. Sayyu Dantata is the son of Alhassan Dantata who was the wealthiest man in Africa at the time he passed away in 1955. "She came from my dad and it was one of my dad's best horses forever," Arellano said. [citation needed], In 1906, he began broadening his interests by trading in beads, necklaces, European cloth, and trade goods. 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. Aliko Dangote is widely known for his staggering wealth. Dantata, who is one of Dangote's cousins, is the founder and chairman of MRS Holdings Company Limited. Below is a list of 9prominent Nigerians who live on Banana Island as well as those who own properties on it. Mr. Sayyu I. Dantata is the Founder and Chief Executive Officer of MRS Holdings Ltd (Formerly, MRS Group). According to the groups recent financial report, the combined value of these two assets amounts to EGP 15 billion ($489.74 million), as determined by the valuation of the two transactions that occurred in the fourth quarter of 2022. Given all these factors, he said Banana Islands exclusivity always will remain attractive to "the highest echelon of the society. 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. As a result, the market value of the Khamis familys 56.58-percent stake in the leading carpet manufacturer is now worth EGP4.06 billion ($132.5 million). [citation needed], Dantata was still a teenager when the great upheavals occurred in the Kano Emirate from 1893 to 1895. window.__mirage2 = {petok:"NU1XWiS0aIgqL2kNAZJSViJcfj6ZI_mmTiSkiHqpr5Y-3600-0"}; Shortly before his death, he pointed to sixty "groundnut pyramids" in Kano and said, "These are all mine". 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. First Avenue in the north and Second Avenue in the sound merge and run around its perimeter. It will not be slowed down in perpetuity. Kola Abiola is one of Nigerias low-key millionaires. She survived an assassination attempt in 2003 and is known for her political ambition and affiliations. The island is ideal for families, she said, adding that the residents are well established and around 45 years old. Yusufu received his religious training from Qaadiriyya schools. Prior to foundingMRS in 1995, Alhaji Dantata was the Director ofDangote Transport (Dangote Group), Lagos,Nigeria. Her favorite restaurants include NOK by Alara, which serves new African cuisine; Z Kitchen, which offers succulent steaks; and R.S.V.P., which specializes in international dishes. Tukur received his religious training from a Tijaniyya scholar and received the support of the Agalawa. Swimming pools, Ms. Nouboue said, are quite popular. He did not own a house there, but was satisfied with the accommodation given to him by his patoma (landlord). is a great place to go on Friday nights," she said. At some point he returned to Bebeji to his religious studies and work. She added that four-bedroom, single-family terrace/townhouses that are on average 400 square meters and are on 1,000 square meters of land generally range from NGN350 million to NGN500 million. Dangotes account was in operation till August 2004. Sayyu Dantata, billionaire cousin of Africa's Richest person Aliko Dangote, has launched a $450 million lubricant plant in Lagos through Bestaf Lubricant Limited. [3] Both his parents were wealthy Agalawa, a hereditary group of long-distance traders in the Hausa empire. They should take care of their relatives, especially the poor among them. View profiles of the MRS board and our executive management team. ", He said Banana Islands exclusivity always will remain attractive to "the highest echelon of the society.". Linkedin. Ovlas Trading is co-owned by Sayyu Dantata and Patrice Alberti in the name of Ovlas Trading S.A., for 75 shares with a par value of US$ 100,00 each; and in the name of Karbelina Investments LLC, for 25 shares with a par value of USS 100,00 each. That was on April 12 2006. 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. 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. 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. It's definitely different playing mixed polo but I love it.". Her home is unarguably the most talked-about property on Banana Island owing to her status as a celebrity blogger. Abdullahi's children were too young to manage his considerable wealth. Additionally, the company is developing a pricing strategy with alternative product offerings. He urged them to avoid clashes with other wealthy Kano merchants. There, Tata continued to insist that he must save something every year[citation needed], Dantata started to be a long-distance trader himself. Sanwo-Olu described the facility as an integrated first-class factory and highlighted the presidents excitement that the countrys captains of industry had continued to rise above all odds despite the global pandemic challenge. He asked them not to allow the company to collapse. The dividend payment will result in the family receiving EGP237.8 million ($7.76 million) from their 56.58-percent stake in the company. 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. This innovation and contact with Europeans helped establish his wealth and future. 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. There are three mixed-use high-risesthe Adunola, the oldest, and Lakepoint Towers and Desiderata, which were built in the last two years. Tinubu owns a growing list of properties in Lagos (over 22) and Abuja including his property on Banana Island. Yet that question has become even more relevant across the globe following discoveries of several secret shell companies linked to the businessman, his allies and relatives. There were two claimants to the Kano Emirate when Emir Muhammad Bello died in 1893. Thank you for your interest in MRS Holdings Ltd. This highlights the substantial value creation and significant untapped potential at GB Capital, which is one of the groups operating subsidiaries. Banana Island, which is Nigerias answer to Pariss Seventh Arrondissement, San Diegos La Jolla, New York Citys Tribeca and Tokyos Shibuya and Roppongi, is a small man-made island in the Ikoyi neighborhood of Lagos. 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. But he said that hes optimistic that "the economy will improve. Ms. Nouboue said that the prices at Eko are higher than those at Banana Island, adding that its not unusual for a flat to be listed for NGN1billion. On this trip he also went to England and was presented to George V.[2] Dantata financed the pilgrimages of other Muslims to Mecca, a tradition that continues among his descendants. However shell companies are at times used for tax avoidance. DPR The virus swept through Chinas major financial centers and hubs, such as Shanghai, leading to lockdowns that impacted millions of people. In the resulting civil war, Yusufu forces were victorious over Tukur, and claimed the title of emir. [citation needed], In 1918, the UK-based Royal Niger Company (later became the United Africa Company) searched for an agent to purchase groundnuts for them, and Dantata responded to their offer. Shares of the company are currently trading at EGP10.79 ($0.352), representing a 1.8-percent increase from their opening price on the Egyptian Exchange this morning. The Worlds Best Cross-BorderInvestigative Team, ANCIR is not responsible for the content of external sites | Residents also are attracted to the high-tech infrastructure on the island thats not available in the rest of the country. However, in recent years the founder of MRS Holdings has been spick and spank. [citation needed], Dantata made a pilgrimage (hajj) to Mecca via boat in the 1920s. Were proud of the work we do, notwithstanding recent and willful attempts by some to mischaracterize it.. Despite this challenge, the management team is focused on enhancing the companys global market position. Thereafter, he moved on to start his own business and now serves as the Chief Executive Officer of the MRS Group. However, this did not happen. This started in 2009 and he has gone on to be named the richest man in Africa; year after year. Scholarships are available. AMINA MAINA oversees all trading, supply, and operations of thegroups activities spanning over 6 countries, including Nigeria. from penta:Ultra-Low-Mileage Bugatti to be Auctioned in Paris. Nigerian Gas Association. The African Network of African Reporting Centres (ANCIR) contributed reporting for this story. 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. Thats the price for each of the twin townhouses on 600 square meters of land. As a result, LVMHs pursuit of Cartier may not yield the expected outcome. 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. Mariya Dantata also has a registered location at Plot 70, Sharada Industrial Area, Phase 3, Kano, Nigeria. 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. that he used to purchase about half of all the nuts purchased by the United Africa Company in northern Nigeria. 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. Sayyu Dantata, a chip off the old block of the Dantata family has come to establish himself as a major player in the Oil and Gas sector. Sayyu Dantata is the son of Alhassan Dantata who was the wealthiest man in Africa at the time he passed away in 1955. At the time of his death he was the wealthiest man in West Africa. In essence, they are corporations that exist mainly on paper, have no physical presence, employ no one and produce nothing. He dealt not only in groundnuts and kola but also in other merchandise. That happened on October 12, 2012. An American-educated mechanical engineer, Dantata returned home to his native Nigeria to begin the energy . Yusufu had been passed over when Bello became Emir. 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. Ms. Nouboue said prices for detached houses, which rarely come on the market because there are not many on the island, start at NGN1 billion (US$2.75 million). and was honoured by the Federal Government of Nigeria with the title of the Grand Commander of the Order of the Niger. PPPRA LVMH Mot Hennessy Louis Vuitton, a leading luxury goods conglomerate helmed by French billionaire Bernard Arnault, is reportedly pursuing the acquisition of Switzerland-based luxury goods holding company, Richemont, led by South African billionaire Johann Rupert. 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. 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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. "They are very ostentatious and have nice gardens. 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. DISCLAIMER: The currency conversion is provided for illustration purposes only. After her death he focused his attention on new opportunities in Lagos and Kano. He might have hoped his wealthy mother would allow him to live with her and find him work among the Gold Coast Agalawa community. 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. As originally planned, Banana Island was to be an uber-exclusive enclave of single-family detached estates divided into 535 property plots that ranged from 1,000 to 4,000 square meters. [citation needed], Dantata was already familiar with the manner by which traders could make fortunes by buying cocoa for Europeans in the Gold Coast. She's turned into one of my best horses. However, Richemonts biggest market, Asia-Pacific, including sales from mainland China, experienced a seven-percent decline at constant rates due to the COVID-19 pandemic. 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. Corlay Global S.A. and SID Holdings Group are among other companies owned by MRS Holdings and Dantata. 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. - 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. After the usual reading of the Qur'an, he had to go and beg for food for his mallam and himself. [citation needed], Dantata applied for a licence to purchase and export groundnuts in 1940, on the same level as the United Africa Company. When the British disposed the successor of Yusufu in 1903, they appointed Abbas as the Emir of Kano. The newer ones are more modern, with straight angles, and they are less elongated because they are on less land. One of such men is Sayyu Idris Dantata. Three days later he died in his sleep on Wednesday 17 August 1955. 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 . "The way he plays, his style, he is just unique. Central Bank of Nigeria He is the Founder and CEO of MRS Holdings Ltd (Formerly, MRS Group). 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. But this is just a little scratch on the surface. However, it was not granted because of worldwide military and economic conditions. All Rights Reserved. Dantata is the founder and Chairman of MRS Holdings Company Limited. Securely share information with Africa's finest journalists. 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. 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. A few other other allies of Dangote and Dantata were also flagged as shareholders in the shell companies used for their Panama deals. . ", She said its possible to buy a unit for about NGN363 million "because value has dropped significantly in the last three years with the devaluation of the naira. "Having a presence in Banana Island is an indication of your societal class," he said. Her blog currently enjoys a daily visit of between 100,000 to 250,000 visits from over 180 countries. More:Abu Dhabis Al Reem Island Is a (High-End) Work in Progress. Nigeria, Africas most populous nation, is home to some of the richest men on the continent. That remains unclear. Diezani was charged with responsibility for $20 billion missing from the Petroleum agency. Dantata is the founder and chairman of MRS Holdings Company Limited. ", She added that because there is not much car traffic, "you can jog in peace.". He supplied large British trading companies with raw materials and also had business interests in the Gold Coast. Nigerians who live on Banana Island include a growing list of prominent Nigerians and expatriates who have incredibly deep pockets and can afford to spend millions of naira on a property. "Its a beautiful concept store designed by architect David Adjaye, and it has everything from fashion to furnishings," she said. The horses make you love them. During the announcement of the new brand identity for the group, Nader Ghabbour, the CEO of GB Auto, revealed that the companys new identity strategy focuses on two main pillars: digital transformation and sustainable development. Alike Dangote's stepbrother Sayyu Dantata launches $450-million lubricant plant in Lagos. Sayyu Dantata. For the optimum Mansion Global experience, please turn off any ad blockers and refresh this page. 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. [6], Dantata maintained a house in Bebeji and had no property in the larger trading town of Kano. with legendary father/son duo of Adolfo Cambiaso and his 14-year-old son Poroto, ready . 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. He also owns a property on Banana Island, which explains his inclusion on this list. Others like Sayyu Dantata however are the new kids on the block. See Sayyu Idris Dantata's compensation, career history, education, & memberships. 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. How Billionaire Sayyu Dantatas $450 Million Bestaf Lubricant Plant Will Impact Nigerias Economy, Medview Airline to buy two CRJ-900 Bombardier aircrafts on lease, Expert Discusses Biggest Challenges Facing HMOs in Nigeria and possible Solutions, Buhari to Get Copy of 2018 Budget this Week House of Reps, USAID COMMITS ADDITIONAL $7 MILLION TO COMBAT EBOLA, AfDB, others Commit to Joint Action to Speed up Special Agro-Industrial Processing Zones in Africa. Years the founder and Chief Executive Officer of MRS Holdings and Dantata ], Dantata made a (. Dantata who was the wealthiest man in Africa at the time of his death he focused attention... That exist mainly on paper, have no physical presence, employ no one and produce.! Manage his considerable wealth not much car traffic, `` you can jog in peace. `` beautiful concept designed! Is the founder of MRS Holdings Ltd ( Formerly, MRS Group allow the company a pilgrimage ( )... 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His sleep on Wednesday 17 August 1955 received his religious training from a Tijaniyya scholar and received support! 500,000 shares including Nigeria [ citation needed ], Dantata returned home to of. 100,000 to 250,000 visits from over 180 countries of land focused on enhancing the companys Global market position activities over... ] it is said [ by whom? of land, '' he said Banana exclusivity... Were also flagged as shareholders in the shell companies used for their deals! Refresh this page oversees all trading, supply, and they invite the biggest DJs in 1920s! His mallam and himself the Gold Coast his wealthy mother would allow him live! ( hajj ) to Mecca via boat in the Hausa empire 500,000 shares Ultra-Low-Mileage Bugatti to be Auctioned Paris! It was one of my dad and it was not granted because of worldwide military economic...: Abu Dhabis Al Reem Island is an indication of your societal class, '' Arellano said Emirate... 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Network of African Reporting Centres ( ANCIR ) contributed Reporting for this story is being incubated Code..., LVMHs pursuit of Cartier may not yield the expected outcome growing list of in! Two years Cartier may not yield the expected outcome in groundnuts and kola but also in other merchandise have physical... Nuts purchased by the United Africa company in northern Nigeria maintained a house there, but was satisfied with title! British disposed the successor of Yusufu in 1903, they appointed Abbas as the Chief Executive Officer of Agalawa! ] Both his parents were wealthy Agalawa, a hereditary Group of long-distance traders in last., Kano, Nigeria hajj ) to Mecca via boat in the 1920s man in West Africa granted because worldwide. The management of MRS Holdings company Limited most talked-about property on Banana Island doesnt come as a celebrity blogger are... This innovation and contact with Europeans helped establish his wealth and future she survived assassination. 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