They should take care of their relatives, especially the poor among them. With its impressive collection of premium brands such as Chloe, Dunhill, Alaa, Cartier, and Delvaux, Richemont has secured its place as the fourth-largest luxury company globally, boasting a market capitalization of almost $79 billion. WhatsApp. They are Afrex S.A clients in Panama. Despite this challenge, the management team is focused on enhancing the companys global market position. Richemont ranks as the fourth-largest luxury company globally, boasting a market capitalization of almost $79 billion. There, Tata continued to insist that he must save something every year[citation needed], Dantata started to be a long-distance trader himself. Nigeria, Africas most populous nation, is home to some of the richest men on the continent. She obtained a B.Sc in Business Administration from the AhmaduBello University, Zaria, Nigeria in 1998. 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. This is true, at least, some of us believe it. 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. Nigerian businessman Sayyu Dantata, a cousin of billionaire Aliko Dangote, has launched a $450-million lubricant plant in Lagos through Bestaf Lubricant Limited. He has been tagged the most successful politician in Lagos State. Given at Victoria, Seychelles.. "It offers security, tranquility and privacy. He told them that his days were approaching their end and advised them to live together. 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. Oriental Weavers, led by Khamis and other family members of the late Mohammed Farid Khamis, is a prominent carpet manufacturer and distributor with active operations in about 150 countries worldwide. [citation needed], By 1922 Dantata had become the richest businessman in Kano, surpassing other merchant traders. 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. Owners create Shell companies for a host of dodgy business reasons. Unlike other established Kano merchants, he was in his mid-thirties, with a small family and retinue to support. is a great place to go on Friday nights," she said. I just went in wanting to do my best and play hard. They serve cocktails, and theres a pool.". "I don't know what happened in that last chukker," Dantata said. 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. From Femi Otedola to Aliko Dangote, billionaire Mike Adenuga, and even Tony Elumelu. 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. 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. Sayyu Dantata. His venture into the Oil and Gas industry in 1993 resulted in the establishment of the MRS Group in 1995 According to documents available to Premium Times, on the same day, Dangote was re-issued a higher number of shares 250,000. After graduating from, This page was last edited on 25 January 2023, at 19:11. 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. I wish to state categorically that neither Aliko Dangote nor Dangote Industries Ltd (DIL) has any form of relationship with these alleged four off shore companies. 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. 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. 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. This drop was driven by an increase in raw material costs as well as a surge in both production costs and operating expenses. Were proud of the work we do, notwithstanding recent and willful attempts by some to mischaracterize it.. Dantata and his brothers were held for ransom, under the threat of slavery. He was particularly concerned about the company he had established (Alhassan Dantata & Sons). "R.S.V.P. Re: Billionaire Sayyu Dantata Launches $450m Lubricant Plant In Lagos by KingKO22: 9:20am On Jan 25 Asiwaju Tinubu has created the enabling environment for all business to thrive and become successful The Nyamirin Zombipigs have created death nd chaotic environment in Alaigbo Land therefore making it a dead trap for investors. Ovlas Trading is co-owned by Sayyu Dantata and Patrice Alberti in the name of Ovlas Trading S.A., for 75 shares with a par value of US$ 100,00 each; and in the name of Karbelina Investments LLC, for 25 shares with a par value of USS 100,00 each. and was honoured by the Federal Government of Nigeria with the title of the Grand Commander of the Order of the Niger. Sayyu Dantata is the billionaire cousin of Alhaji Aliko Dangote, Africa's richest man and Chairman of the Dangote Group. House heights were to be capped at three stories. It will not be slowed down in perpetuity. In addition to Dantata Jr., Hope Arellano had three goals and Peco Polledo added two goals. Going into the match, both David Paradice's Scone and Sayyu Dantata's SD Farms had secured resounding victories against their Semifinal opponents, proving they were more than worthy to have trounced the other eight teams and potentially, each other. We generally think that death is the equalizer of all men and that we will all answer to God. "Dantata plans to move up into 12-goal league play in February, he said. 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 did not manage from behind a desk but involved himself with his workers. Please contact us using the information below. It's definitely different playing mixed polo but I love it.". Delivers the most important property news around the world to your inbox each weekday. He purchased some items in Bebeji, he sold half of them on the way and the rest in Accra. Their company, MRS Oil and Gas, was re-issued 500,000 shares. that he used to purchase about half of all the nuts purchased by the United Africa Company in northern Nigeria. The virus swept through Chinas major financial centers and hubs, such as Shanghai, leading to lockdowns that impacted millions of people. With this capacity, the company is thus set to give well-known brands such as Total Nigeria Plc, Ammasco International Limited, 11 Plc, Oando Plc, Tonimas Nigeria Ltd, Forte Oil Plc, and Conoil Plc a run for their money. ALL RIGHTS RESERVED.1211 AVE OF THE AMERICAS NEW YORK, NY 10036 | info@mansionglobal.com. AMINA MAINA oversees all trading, supply, and operations of thegroups activities spanning over 6 countries, including Nigeria. But the habits of people change. Nigerian Gas Association. The surge in sales can be attributed to the rise in sales in Japan, which soared from less than 855 million ($929 million) in 2022 to almost 1.29 billion ($1.4 billion), along with better-than-expected sales in Europe, despite geopolitical tensions sparked by the Ukraine war. ", Mr. Onyenze remains convinced that the "real estate market looks promising in the future, as there are visible signs of massive development in progress. "Banana Island is all about location," she said. Although Banana Island School, which enrolls boys and girls who are 1 to 5 years old, and Olive Dale Preparatory School, which is a nursery-through-primary school, are the only ones on the island, there are a variety of top-notch schools in Ikoyi. 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. 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. Tundun leads a largely quiet lifestyle with the exception of rare appearances at social events. [citation needed], Dantata made a pilgrimage (hajj) to Mecca via boat in the 1920s. Pinterest. But he said that hes optimistic that "the economy will improve. 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. 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 . "Typically, a very large percentage of homes are customized, while a few are large estates accommodating a number of prototype houses," he said. An American-educated mechanical engineer, Dantata returned home to his native Nigeria to begin the energy conglomerate that became MRS Holdings, growing it into one of the nations largest companies. He was the first to develop this route. In providing those services, we follow both the letter and spirit of the law. 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. This highlights the substantial value creation and significant untapped potential at GB Capital, which is one of the groups operating subsidiaries. Residents also are attracted to the high-tech infrastructure on the island thats not available in the rest of the country. 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. Tumblr. 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. Dantata could not be reached. 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. Again, they resumed possession of the shares again as in the previous time, but this time it seems Dangote sold his shares to Dantata and M.R.S Oil and Gas Company Limited. [3] Both his parents were wealthy Agalawa, a hereditary group of long-distance traders in the Hausa empire. One current listing, she said, is for NGN750 million. As part of a recompilation, Abbas returned the confiscated lands around Kano to the Agalawa families. 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. XE Currency Converter Dangote ceased to be shareholder permanently on July 6 2009, and Dantatas number of shares doubled to 500,000 shares while MRS Oil and Gas CO, LTD retained its 500,000 shares. The chunk of his wealth is believed to have been inherited from his father. Alhaji. She was also listed as Nigerias Highest Paid Blogger by Forbes in August 2016. He implored them to continue to marry within the family as much as possible. After her husband's death, she decided to leave Bebeji for Ghana, where she had commercial interests. 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. [citation needed], Dantata was still a teenager when the great upheavals occurred in the Kano Emirate from 1893 to 1895. However, it was not granted because of worldwide military and economic conditions. "Having a presence in Banana Island is an indication of your societal class," he said. Sayyu Dantata is the billionaire cousin of Alhaji Aliko Dangote, Africas richest man and Chairman of the Dangote Group. "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. DISCLAIMER: The currency conversion is provided for illustration purposes only. It will not be slowed down in perpetuity.". ", He conceded that prices have dropped about 30%, but said that "the economy will improve. 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. Banana Islands electrical and water systems are underground, theres a central sewage system and treatment plant as well as street lighting and satellite telecommunications networks. Over the past few years, her net worth has been a subject of heated debate. 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. 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. In 2015, her net worth was estimated to be between N1.5 billion and N2 billion. The newer ones are more modern, with straight angles, and they are less elongated because they are on less land. "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..". 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. Established in 1985 by the late Egyptian auto mogul Raouf Ghabbour, GB Auto has grown under his guidance to become one of the leading automobile distributors and assemblers in the Middle East and North Africa. Polo has long been a passion for Dantata, who is known to be low-key despite his wealth. Hermans and Bollini each had two goals and Monteverde added one.Dantata was coming off Thursday's Sterling Cup semifinal loss to Valiente. 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. He supplied large British trading companies with raw materials and also had business interests in the Gold Coast. More:Comporta, a Portuguese Village Where the Well-Heeled Go for Some Privacy. Below is a list of 9prominent Nigerians who live on Banana Island as well as those who own properties on it. Leave Application Diezani was, however, not officially charged or tried for these allegations and has strongly denied any wrongdoing. His net worth has never been successfully estimated given his extremely private life and business dealings. At least 100,000 secret bank account operators who owned about $100 billion were exposed in the leaks, unsettling investigators in several countries. "She came from my dad and it was one of my dad's best horses forever," Arellano said. In addition to Nigerias wealthiest people, Banana Island draws a variety of ex-pats from the United States, Britain, Lebanon, India and France. 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. Dantata is the founder and chairman of MRS Holdings Company Limited. 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. Sayyu Dantata. Nigerian businessman Sayyu Dantata, the stepbrother of billionaire Aliko Dangote, has launched a $450-million lubricant plant in Lagos through Bestaf Lubricant Limited. Iyabo Obasanjo, the daughter of Nigerias former President Olusegun Obasanjo also resides on Banana Island. She lived in the United States for many years before finally relocating to Nigeria. He could speak some English and already had direct dealings with Europeans in Lagos and Accra. Alhaji Dantata started his career as Director of the Engineering and Transport Division of Dangote . Advertisement. See Sayyu Idris Dantata's compensation, career history, education, & memberships. 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. 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. MRS Holding particularly popped up regularly as multiple shareholder company for other companies linked to Dangote and Dantata in Panama. The significant decline in the companys profits can be primarily attributed to the surge in raw material costs, including wool, polypropylene, backing, and finishing materials. He was also a good financial manager. [citation needed], In 1906, he began broadening his interests by trading in beads, necklaces, European cloth, and trade goods. 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. Many people using offshore companies do so legally and offshore companies indeed have many legal purposes. 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. Thats the price for each of the twin townhouses on 600 square meters of land. 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. It also offers status. 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. All property prices are as stated by the listing agent. 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 - 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. 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. He had established ( Alhassan Dantata & Sons ) production costs and operating expenses live together by the agent. Own properties on it. `` unlike other established Kano merchants, he conceded that prices have dropped 30... It. `` Nigeria, Africas most populous nation, is home to some of us it. 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