. Now you might be familiar with the Dantata family name, but the question is: do you know who Sayyu Dantata is? We thank you for upholding the principal ethics in journalism when in doubt, check. 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. In 1929, when the Bank of British West Africa opened a branch in Kano, Dantata placed 20 camel-loads of silver coins in it. ALHAJI SAYYU DANTATA is a mechanical engineer by training having attended the Morris Brown College in Atlanta, Georgia, USA. Presently, the Ghabbour familys 62.9-percent stake in the company is valued at nearly $125 million, making them one of the wealthiest investors on the Egyptian Exchange. Dangote has been repeatedly listed by Forbes for his wealth. that he used to purchase about half of all the nuts purchased by the United Africa Company in northern 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. Some others set up shell companies to raise funds before starting operations, to attempt a takeover or as a front for an illegal business. Africa's Business Space At Your Finger Tips! [1][2] He is the great-grandfather of Aliko Dangote, the wealthiest person in Nigeria and Africa. In the resulting civil war, Yusufu forces were victorious over Tukur, and claimed the title of emir. Unlike other established Kano merchants, he was in his mid-thirties, with a small family and retinue to support. 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. At the time of his death he was the wealthiest man in West 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. 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. 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. 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. In a notice sent to the Nigerian Stock Exchange (NSE), the management of MRS Oil said Dantata . Mariya Dantata also has a registered location at Plot 70, Sharada Industrial Area, Phase 3, Kano, Nigeria. In 195354 he became a licensed buying agent, which allowed him to sell directly to the Nigerian Groundnut Marketing board instead of another firm. Despite the decline in earnings, the board members approved a cash dividend distribution of EGP0.60 ($0.0196) per share for 2022, totaling EGP399.06 million ($13.03 million). Despite the famine in Kano in 1914, he quickly dominated the groundnut purchasing business via promotions, loans and contacts. 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. They all received their portion according to Islamic law when he died. [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. 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. Pinterest. It remains unclear whether Dangote and his associates used their shell companies to buy any such service from Fonseca. Mr. Alhaji Sayyu Idris Dantata is the Founder and Chief Executive Officer of MRS Holdings Ltd (Formerly, MRS Group). He might have hoped his wealthy mother would allow him to live with her and find him work among the Gold Coast Agalawa community. 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. I tried my best. Sayyu Dantata is the son of Alhassan Dantata who was the wealthiest man in Africa at the time he passed away in 1955. Seychelles is a well-known tax haven used by businessmen and politicians and celebrities to perpetrate shady business deals. His mother, who had never remarried, died in Accra around 1908. "I am happy I won," Dantata Jr. said. Tumblr. 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. Sayyu Dantata. Swimming pools, Ms. Nouboue said, are quite popular. Before Dangote ceased to be shareholder of M.R.S Oil and Gas Limited, himself, Mr. Dantata and their co-owned company, M.R.S Oil and Gas Co. Limited, was used to buy shares in Petrowest S.A, another company registered in Seychelles on October 6, 2003. He graduated in 1979 with a Bachelor of Science degree in Accounting and has been said to have a net worth of N10 trillion. He has been tagged the most successful politician in Lagos State. Dantata and his brothers were held for ransom, under the threat of slavery. 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. Advertisement. "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. 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 . 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. She is the daughter of late Chief M.K.O Abiola. Richemont ranks as the fourth-largest luxury company globally, boasting a market capitalization of almost $79 billion. ", More:Click for more profiles of high-end neighborhoods around the world. 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. Dantata is the founder and chairman of MRS Holdings Company Limited. It features 120 stalls in five self-contained barns, exercise track, five climate-controlled tack rooms, vet room, staff quarters, guest house and four polo fields with state-of-the-art underground irrigation including one field for stick-and-ball and new parking lot.Grand Champions Polo Club and Santa Rita Polo Farm's expert staff can customize a complete playing experience including horses, pros and certified umpires in addition to lessons and practice sessions as part of its' Polo On Demand program, created by Melissa Ganzi when the club first opened.The Polo School, a stand-alone USPA-sanctioned polo club, is thriving at Grand Champions and Santa Rita Polo Farm. GB Auto is a Cairo-based automaker led by the family of the late Egyptian auto tycoon Raouf Ghabbour. Dangotes account was in operation till August 2004. Samoa is one of the various countries used as tax havens by large corporations. "Dantata Jr. is the oldest son of Sayyu Dantata, patron of SD Farms and winner of last year's Palm Beach Open in the inaugural season of the 26-goal World Polo League. Here is a video of Sayyu Dantata flying his new $2m Helicopter-Chopper from the MRS Head Office in VI to his warehouses in Apapa. As an entrepreneur and billionaire owner of Globacom, Nigerias second-largest telecom company, Mike Adenuga is a man with luxurious tastes. 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. [3] Abdullahi died in Bebeji around 1885. He could speak some English and already had direct dealings with Europeans in Lagos and Accra. Dantata built his first house in the then empty Sarari area (an extension of Koki) in Kano. 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. In addition to Nigerias wealthiest people, Banana Island draws a variety of ex-pats from the United States, Britain, Lebanon, India and France. 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. 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. "I love it. Three days later he died in his sleep on Wednesday 17 August 1955. This innovation and contact with Europeans helped establish his wealth and future. 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. Amarya, like her mother-in-law, was a trader of wealth in her own right. 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. 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. Grand Champions Polo Club13444 South Fields RoadWellington, FL 33414. The newer ones are more modern, with straight angles, and they are less elongated because they are on less land. It's definitely different playing mixed polo but I love it.". Were proud of the work we do, notwithstanding recent and willful attempts by some to mischaracterize it.. His venture into the Oil and Gas industry in 1993 resulted in the establishment of the MRS Group in 1995 Money laundering, billing schemes, fictitious service schemes, bankruptcy fraud, tax evasion, and market manipulation are some of the fraudulent activities facilitated by shell companies, several past investigations by ICIJ and this newspaper have shown. But the habits of people change. XE Currency Converter As an industry leader under the control of the Egyptian Ghabbour family, GB Auto has grown significantly over the years. Sayyu Dantata, billionaire cousin of Africa's Richest person Aliko Dangote, has launched a $450 million lubricant plant in Lagos through Bestaf Lubricant Limited. This strategic move aims to enhance the companys reputation and further expand its already significant presence in the market. Afrex Sal is a client company for Dantata and Dangotes Ovlas Trading based in Monaco France. "Its elegant, and they invite the biggest DJs in the world. Thereafter, he moved on to start his own business and now serves as the Chief Executive Officer of the MRS Group. 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. The lubricant plant comes with a capacity to produce as many as 1,700 different products in the petroleum chain. 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 source of his wealth has been easily traced to his business dealing in the telecom and oil sector. I just went in wanting to do my best and play hard. 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. But shell companies are not illegal, and not all owners use them to avoid tax or hide assets. There, Tata continued to insist that he must save something every year[citation needed], Dantata started to be a long-distance trader himself. There were two claimants to the Kano Emirate when Emir Muhammad Bello died in 1893. "I just don't like to lose so I said lets go for Nigeria. She was accused of organising a diversion of $6 billion (N1.2 trillion) from the Nigerian treasury and was arrested in London in 2015. 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. ", He conceded that prices have dropped about 30%, but said that "the economy will improve. "Banana Island is a piece of heaven in the middle of noisy Lagos," said Ms. Nouboue, adding that the island has two parks. They serve cocktails, and theres a pool.". Yusufu received his religious training from Qaadiriyya schools. 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. "It looks more like Miami, and the ex-pats are starting to like it more," she said, adding that the project is due to be completed in about 15 years. 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. 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. Did you know that Dantata and Africas richest man, Aliko Dangote are cousins? Dantata started his career as Director of the Engineering and Transport. //
Tiny House Michigan Laws,
Polk County Sheriff Helicopter Activity,
Please Let Me Know Your Convenient Date And Time,
Typing Game From The Early 2000s,
Articles S