sayyu dantata son

Pinterest. However shell companies are at times used for tax avoidance. He is the Founder and CEO of MRS Holdings Ltd (Formerly, MRS Group). So, according to published reports, does Iyabo Obasanjo, daughter of the former president Olusegun Obasanjo; Sayyu Dantata, son of Alhassan Dantata, who, when he died in 1955 was one of the wealthiest men in West Africa; Kola Abiola, the son of the businessman/politician MKO Abiola; identical twins Peter and Paul Okoye, aka P-Square, the Nigerian R&B duo; and Nigerian mega-blogger Linda Ikeji. 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. Shell companies, experts say, are entities that have no active businesses and usually exist only in names as vehicles for another companys business operations. 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. Shortly before his death, he pointed to sixty "groundnut pyramids" in Kano and said, "These are all mine". He also owns a property on Banana Island, which explains his inclusion on this list. In 2012, her blog was worth $1.2 million. Headed by Director of Operations Juan Bollini, The Polo School has nurtured several men and women polo players now playing in the pro and amateur ranks since its inception. After her death he focused his attention on new opportunities in Lagos and Kano. Some established merchants of Kano like Umaru Sharubutu, Maikano Agogo accepted their offer. Dantata started his career as Director of the Engineering and Transport. 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. "Arellano got the opportunity to play with her brother Lucas, 20, who subbed for Dantata Sr. "It was so much fun today," Arellano said. Its illegal to market real estate in anything but naira.". They are Afrex S.A clients in Panama. "I don't know what happened in that last chukker," Dantata said. [citation needed], By 1922 Dantata had become the richest businessman in Kano, surpassing other merchant traders. Ikoyi also is a shopping destination. Here is a video of Sayyu Dantata flying his new $2m Helicopter-Chopper from the MRS Head Office in VI to his warehouses in Apapa. Its by invitation only. Shell companies are usually domiciled in notorious tax havens like Cayman Island, Monaco, Panama, Samoa, Switzerland, Luxembourg, Hong Kong, Singapore, Lebanon, Mauritius, British Virgin Islands, St. Lucia, Belize, Macao and close to a hundred others; usually tiny countries. Built on a beach, it has water views and roads like those in the U.S. According to internal data of the Panama-based offshore-provider, Mossack Fonseca, obtained by the German newspaper Sddeutsche Zeitung and shared by the International Consortium of Investigative Journalists (ICIJ), Dangote, his relative, Sayyu Dantata, as well as his business allies have over the years used shell companies domiciled in controversial tax havens in their business transactions. Tundun leads a largely quiet lifestyle with the exception of rare appearances at social events. Among those accounts were that of Dangote, who became an HSBC private account client in July 2003. He was a director of the Nigeria branch of Shell B.P. This highlights the substantial value creation and significant untapped potential at GB Capital, which is one of the groups operating subsidiaries. It will not be slowed down in perpetuity.". . More:Abu Dhabis Al Reem Island Is a (High-End) Work in Progress. Ovlas Trading is co-owned by Sayyu Dantata and Patrice Alberti in the name of Ovlas Trading S.A., for 75 shares with a par value of US$ 100,00 each; and in the name of Karbelina Investments LLC, for 25 shares with a par value of USS 100,00 each. 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. 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. At some point he returned to Bebeji to his religious studies and work. He was particularly concerned about the company he had established (Alhassan Dantata & Sons). GB Auto is a Cairo-based automaker led by the family of the late Egyptian auto tycoon Raouf Ghabbour. Expect to see much more of him this year. Sayyu Dantata, billionaire cousin of Africa's Richest person Aliko Dangote, has launched a $450 million lubricant plant in Lagos through Bestaf Lubricant Limited. 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. DISCLAIMER: The currency conversion is provided for illustration purposes only. Dantata built his first house in the then empty Sarari area (an extension of Koki) in Kano. February 8, 2023 Important Sales Tips for Selling an Old Home; February 6, 2023 Essential Tips for Dealing with Difficult Landlords; February 5, 2023 All property prices are as stated by the listing agent. A 2015 investigation by Premium Times, in partnership with French Daily, Le Monde , the International Consortium of Investigative Journalists, and a host of other major media organisations around the world, had named Dangote among some of Nigerias wealthiest industrialists, former government officials and their relatives, who operated highly secretive foreign accounts with the Swiss branch of banking giant, HSBC. 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. 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. Instead of bringing kola nuts on pack animals, he used steamships to transport them between Accra, Kumasi, Sekondi and Lagos. The African Network of African Reporting Centres (ANCIR) contributed reporting for this story. However, this did not happen. 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). 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. Aliko Dangote is widely known for his staggering wealth. That remains unclear. They all received their portion according to Islamic law when he died. 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. 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. Iyabo Obasanjo, the daughter of Nigerias former President Olusegun Obasanjo also resides on Banana Island. She's turned into one of my best horses. WhatsApp. Tukur received his religious training from a Tijaniyya scholar and received the support of the Agalawa. Content created and supplied by: studio.opera.com (via Opera 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. She is the daughter of late Chief M.K.O Abiola. In 1929, when the Bank of British West Africa opened a branch in Kano, Dantata placed 20 camel-loads of silver coins in it. "Most of the schools stop at the primary level because people tend to send their children to boarding schools in the U.K. and the U.S.," Ms. Nouboue said. Nigeria currently consumes about 250 million litres of engine oil per year, and this consumption grows by more than five percent every year due to the addition of new vehicles and machinery. She left the children in Bebeji, in the care of an old slave woman named Tata. Mr. Sayyu I. Dantata is the Founder and Chief Executive Officer of MRS Holdings Ltd (Formerly, MRS Group). Because we do, we have not once in nearly 40 years of operation been charged with criminal wrongdoing. ", He said Banana Islands exclusivity always will remain attractive to "the highest echelon of the society.". The dividend payment will result in the family receiving EGP237.8 million ($7.76 million) from their 56.58-percent stake in the company. 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. PPPRA Dantata is the founder and chairman of MRS Holdings Company Limited, one of Nigerias largest marketers of refined petroleum products like gasoline, marine fuels, and aviation fuels. His net worth has never been successfully estimated given his extremely private life and business dealings. Residents also are attracted to the high-tech infrastructure on the island thats not available in the rest of the country. 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. To mitigate the impact of rising raw material costs on earnings in the current fiscal year, the management is now pursuing strategic restructuring and operational re-engineering efforts to reduce both fixed and variable costs. Using data-mining techniques and working in collaboration with a global network of investigators with access to secret databases, Premium Times was able to uncover several Nigerian business players associated with shell companies. At the time of his death he was the wealthiest man in West Africa. 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 . Years of operation been charged with criminal wrongdoing estimated given his extremely life. Koki ) in Kano stake in the family of the society..! Training from a Tijaniyya scholar and received the support of the Nigeria of! Staggering wealth Sons ) and Kano, her blog was worth $ million... 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