Prior to founding MRS in 1995, Alhaji Dantata was the Director of Dangote Transport (Dangote Group), Lagos, Nigeria. Bloomberg Surveillance: Early Edition with Francine Lacqua live from London, bringing insight on global markets and the top business stories of the day. Sayyu Dantata, chairman MRS Oil chairman, has tendered his resignation as chairman of the company. 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. 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. founder and chairman of MRS Holdings Company Limited, Egyptian businessman Hisham Talaat Moustafas group pledges $167 million toward community development, Nairobi-based entrepreneur Jit Bhattacharyas BasiGo to assemble 1,000 electric buses in Kenya, How Jay-Z made his money: Four deals that propelled his net worth to $2.5 billion, Transcorps market cap up by $55 million following Femi Otedolas acquisition, Aliko Dangote hits $20-billion net worth, joining elite ranks of worlds billionaires, James Mwangis Equity Group invests $76.7 million in Congo unit, Segun Agbaje-led GTCO records $367.4-million profit in 2022. At least 100,000 secret bank account operators who owned about $100 billion were exposed in the leaks, unsettling investigators in several countries. 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. "During the winter season in Wellington, Grand Champions is hosting 19 tournaments, the most of any club in the U.S., including four in January. Shell companies constitute some of the darkest, sometimes convoluted, corridors in global illicit finance. The source of his wealth has been easily traced to his business dealing in the telecom and oil sector. Some members of this system engage in buying goods from restricted rural areas and transporting it to the city where another group of agents in the Urban area buys the goods and store them instead of Dantata. It is a clear indication that, despite the challenges posed by the global pandemic, Nigerian businessmen and captains of industries are determined to continue investing in and developing the countrys economy. Content created and supplied by: studio.opera.com (via Opera Diezani was charged with responsibility for $20 billion missing from the Petroleum agency. 'Alhaji Dantata A Man of Means'. News ), 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. They are frequently used to shield the identities of owners and/or to hide money. Breakdown Of Sayyu Dantata's NSE Fortune. Limited since 2008. He had his education at the Morris Brown College in Atlanta-Georgia, United States of America. Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. At that time, the Nigerian government was the sole importer of diesel and there were shortages of the product largely. Will Apollo Offer THG a Route Out of Its Troubles? He is a seasoned mechanical engineer by training. Jane I. Guyer. Sayyu Dantata was born and raised in the city of Kano state but he spent most of his life in the biggest city of Africa which is Lagos he was born on the 10 August 1960 right now he is over 60 years old. 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. This page is not available in other languages. He then started buying diesel from AP, Unipetrol, and the Kaduna Refinery. Omooo com see level ?. The lubricant plant, which is located at Tincan Island in Apapa, Lagos, is set to contribute immensely to Nigerias economy and will boost employment, generate revenue, and reduce the countrys import dependence. He now runs Visafone, a Nigerian telecom outfit he founded in 2006. 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. 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Owns vast collection of prime real estate in Lagos, including the Landmark Civic Center in Lagos. In 2015, her net worth was estimated to be between N1.5 billion and N2 billion. January 24, 2023 Nigerian businessman Sayyu Dantata, the stepbrother of billionaire Aliko Dangote, has launched a $450-million lubricant plant in Lagos through Bestaf Lubricant Limited. From the look of things Lagos road hold up will now switch to airspace hold up. Every time I see horses I just want to go and spend time with them. His passport to the nation's sweet crude is the MRS. Sayyu Dantata ranks as one of the best Polo Players in Nigeria. Grand Champions Polo Club13444 South Fields RoadWellington, FL 33414. Marco ensures that all activities carried out in the terminals, areperformed according to highest international standards (API,Ocimf, Isgott). Given at Victoria, Seychelles.. Documents show Dantata never sold, transferred his shares or ceased to be a shareholder till date. She lived in the United States for many years before finally relocating to Nigeria. Mr. Alhaji Sayyu Idris Dantata is the Founder and Chief Executive Officer of MRS Holdings Ltd (Formerly, MRS Group). Alhaji Sayyu saw the potential for diesel marketing when he first experienced difficulties procuring fuel for his companys huge fleet. Some people even joked that Lagos may soon start experiencing air gridlocks if these billionaires continue flying their helicopters around. He started his career as Director of the Engineering and Transport Division of Dangote Group, the biggest Nigerian conglomerate. 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. 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. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. 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. Staff Login 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. Here Are 7, 6 Disadvantages of Dating a Man with a Moustache, How to Get a Ladys Attention Wherever You Are, Mum and Dad Were Afraid For My Life: Nigerias Bryan Idowu, Nigeria World Cup Squad and Team News: Russia 2018, SWIFT Networks to Provide Free WiFi in 10,000 Hotspot Zones in, 7 Reasons Why Dubai is The Best Honeymoon Destination, 20 Black Designers of African-Inspired Clothing, Forget Dangote, See 10 Nigerian Multi Billionaires You Never Knew, Top 5 Jobs Paying Than White Collar Jobs in Nigeria, 10 Amazing Innovations By Nigerians In The Last Decade, Top 7 Money Making School Campus Business in Nigeria, The Woman Who Opened Her Doors To Over 500 Orphans And, A woman can do multiple tasks in Life. However, by 1980, he had relinquished some of his business interest to his sons, including the eldest, Abdulkadir Sanusi Dantata, who co-founded Dantata and Sawoe and Asada Farms.[2]. Dantata serves as a Director of Hydro Alternative Energy, Inc. and has been a Non-Executive Director of Nigerian Telecommunications Limited since August 2008. Feeding African Cities: Studies in Regional Social History, Indiana University Press, 1987. p 87-91. ], Oando announces resignation of Non-Executive Directors amidst managerial crises. Islamic Reform and Political Change in Northern Nigeria, Northwestern University He is widely regarded as the presumed winner of the 1993 presidential elections. He did this to beat the normal gridlock on the road. He began his career as Director of the Engineering and Transport Division of Dangote Group, considered the Largest Nigerian conglomerate. Samoa is one of the various countries used as tax havens by large corporations. Sayyu Idris Dantata, Mrs Nigeria PLC: Profile and Biography - Bloomberg Markets Bloomberg Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg. [READ MORE: Caverton releases statement following VPs crash landing], Staff hail billionaire #SayyuDantata, as he personally flies his chopper to work to beat the #Apapa traffic, today, in Lagos, A post shared by Instablog9ja (@instablog9ja) on Jun 25, 2019 at 12:00pm PDT. Alhaji Sayyu Idris Dantata, Aliko Dangotes half-brother, is the Founder and Chief Executive Officer of MRS Holdings Limited (Formerly known as MRS Group). 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. The billionaire recently launched Bestaf Lubricant Plant, a subsidiary of MRS Group. 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. 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. Dangote has been repeatedly listed by Forbes for his wealth. He has an estimated net worth of $4.1 billion and the figures continue to soar. Business career [ edit] That was on April 12 2006. 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. The son of the slain businessman, politician, publisher and winner of the 1993 presidential elections in Nigeria, M.K.O Abiola. Prior to establishing the MRS Group, Sayyu had worked with the Dangote Group as director of the engineering and transport division. According to Dantata, the plant will not only generate foreign exchange for the country through product exports but also meet the needs of neighbouring countries. Many of Dantatas employees could be heard hailing him as he expertly landed and stepped out. Mossack Fonseca has, however, in a statement to ICIJ denied wrongdoings, saying, as a registered agent, it merely helps incorporate companies, and that before agreeing to work with a client in any way, it conducts a thorough due-diligence process, one that in every case meets and quite often exceeds all relevant local rules, regulations and standards to which we and others are bound..