Sayyu Dantata. When Banana Island was built nearly two decades ago, there was no other luxury spot like it in Nigeria, but it now has competition. 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. 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. The purpose (s) for which Dangote and his allies set up their own secret companies is not exactly clear. Dantata worked harder in Ghana than he did in Bebeji. Africa's richest man, Aliko Dangote, and his brother Sayyu Dantata have been linked to shell companies in tax havens, writes Joshua Olufemi and Emmanuel Mayah. 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. He purchased some items in Bebeji, he sold half of them on the way and the rest in Accra. Tukur received his religious training from a Tijaniyya scholar and received the support of the Agalawa. 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. [citation needed], In 1906, he began broadening his interests by trading in beads, necklaces, European cloth, and trade goods. He dealt not only in groundnuts and kola but also in other merchandise. 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. The brand has more than 400 retail service stations across the country, and operations span several West African countries, including the Benin Republic, Togo, Cameroon, and Cote dIvoire. All Rights Reserved. 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. "Victoria Island is like Manhattan," Ms. Nouboue said. [citation needed], By 1922 Dantata had become the richest businessman in Kano, surpassing other merchant traders. "As Banana Island did in the beginning, it restricts the types of homes that can be built. Corlay Global S.A. and SID Holdings Group are among other companies owned by MRS Holdings and Dantata. More:The Beach is Always Close in Cottesloe, by Perth, Australia. Staffs hail billionaire Sayyu Dantata, as he personally flies his chopper to work to beat the Apapa traffic, today, in Lagos. 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. We thank you for upholding the principal ethics in journalism when in doubt, check. Although Banana Islands main street offers little more than a caf, a barbershop and a large supermarket, chic shopping areas and restaurants on Victoria Island are only a 12-minute car ride away. Others like Sayyu Dantata however are the new kids on the block. It has the power to change the world.. Seychelles is a well-known tax haven used by businessmen and politicians and celebrities to perpetrate shady business deals. GB Auto is a Cairo-based automaker led by the family of the late Egyptian auto tycoon Raouf Ghabbour. They all received their portion according to Islamic law when he died. The groups sales have surpassed 15 billion ($16.3 billion), up from 12.77 billion ($13.9 billion) during the same period last year, showcasing substantial growth. . He began his career as Director of the Engineering and Transport Division of Dangote Group, considered the Largest Nigerian conglomerate. Oriental Weavers is a leading carpet manufacturer and distributor. From Femi Otedola to Aliko Dangote, billionaire Mike Adenuga, and even Tony Elumelu. 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. This drop was driven by an increase in raw material costs as well as a surge in both production costs and operating expenses. He told them that his days were approaching their end and advised them to live together. 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. 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. SD Farms Wins Aspen Valley Cup At Grand Champions; Sayyu Dantata Jr. 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. At the time of his death he was the wealthiest man in West Africa. 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 . 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. 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. 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. 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. He is my favorite teammate. As an entrepreneur and billionaire owner of Globacom, Nigerias second-largest telecom company, Mike Adenuga is a man with luxurious tastes. She was elected to the Nigerian Senate representing Ogun Central Senatorial District of Ogun State. Documents show Dantata never sold, transferred his shares or ceased to be a shareholder till date. He began his career as Director of the Engineering and Transport Division of Dangote Group, considered the Largest Nigerian conglomerate. [citation needed], Dantata applied for a licence to purchase and export groundnuts in 1940, on the same level as the United Africa Company. 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. In essence, they are corporations that exist mainly on paper, have no physical presence, employ no one and produce nothing. He traded in cattle, cloth, beads, precious stones, grains, rope and other things. He asked them not to allow the company to collapse. The account appeared in the name of Development Projects Corporation, its registration address in Tortola, in the British Virgin Islands, a notorious tax haven, where individuals and corporations usually incorporate shell companies to hide assets. "Arellano got the opportunity to play with her brother Lucas, 20, who subbed for Dantata Sr. "It was so much fun today," Arellano said. But he said that hes optimistic that "the economy will improve. ", She added that because there is not much car traffic, "you can jog in peace.". Advertisement. He has an estimated net worth of $4.1 billion and the figures continue to soar. [citation needed], By all accounts, Dantata was hard working, frugal and unpretentious in his personal habits. Dantata is the founder and chairman of MRS Holdings Company Limited. ALHAJI SAYYU DANTATA is a mechanical engineerby training having attended the Morris BrownCollege in Atlanta, Georgia, USA. According to Swiss newspaper Finanz und Wirtschaft, insiders have suggested that LVMH is actively seeking to expand its jewelry segment by acquiring Cartier, a luxury jewelry brand owned by Richemont. Our reputation is paramount to us and we are conscious of the downside of it. "She came from my dad and it was one of my dad's best horses forever," Arellano 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. In the same manner, his brother, Dantata, was issued the same amount of 250,000 shares. It remains unclear whether Dangote and his associates used their shell companies to buy any such service from Fonseca. The most expensive listing now on the market, NGN5 billion, is for a six-bedroom detached house on 2,600 square meters of land, she said. Read the full response from Mossack Fonseca, African Network of African Reporting Centres. ", He said Banana Islands exclusivity always will remain attractive to "the highest echelon of the society.". For the optimum Mansion Global experience, please turn off any ad blockers and refresh this page. "I just don't like to lose so I said lets go for Nigeria. Her home is currently valued at N800 million. In providing those services, we follow both the letter and spirit of the law. Unlike other established Kano merchants, he was in his mid-thirties, with a small family and retinue to support. Afrex Sal is a client company for Dantata and Dangotes Ovlas Trading based in Monaco France. Expect to see much more of him this year. Dangote is one of the most prominent clients of Mossack Fonseca, and in Panama alone, based on company registration addresses provided by shareholders, 13 shell companies registered by the firm are directly linked to persons and companies who in turn are linked to the billionaire and his allies. "Then he gave her to me. But in an arrangement that seems curious, Dangote was issued a higher amount of shares 250,000 on the same day he resigned. Some descendants of Alhassan Dantata includes: "Alhaji Alhassan Dantata, An Appreciation", "Biography of Select Kano Merchants, 18531955", "Alhassan Dantata: Things You Didn't Know About Him", "Meet the wealthy but simple Nigerian merchant behind Dangote's success story", "Biography of Select Kano Merchants, 1853-1955", "Nigerian Tycoon Abdulkadir Dantata Is Dead", https://en.wikipedia.org/w/index.php?title=Alhassan_Dantata&oldid=1135608976, Mahmud Dantata, popularly known as Mamuda Wapa (19221983): son. NEXT: 5 Female Nigerian Politicians Involved In Corrupt Practices, Aliko Dangote, a poster boy for Africas undeniably successful businesses, is one of, The Board of Director of Medview Airline Plc has resolved to engage in lease . Abdullahi's children were too young to manage his considerable wealth. Beauty and seclusion set Banana Island apart. More:Marshan Offers the Very Best of Tangiers Enduring Allure. 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. He was buried in his house in the Sarari ward.[2]. [6], Dantata maintained a house in Bebeji and had no property in the larger trading town of Kano. 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. However, it was not granted because of worldwide military and economic conditions. However shell companies are at times used for tax avoidance. ", More:Click for more profiles of high-end neighborhoods around the world. We are not responsible for any loss that you may incur as a result of relying on these currency conversions. After graduating from, This page was last edited on 25 January 2023, at 19:11. [7], In 1912, when the Europeans started to show an interest in the export of groundnut, they contacted the already established Kano merchants through Emir Abbas and their chief agent, Adamu Jakada. 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. 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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. He could speak some English and already had direct dealings with Europeans in Lagos and Accra. Delivers the most important property news around the world to your inbox each weekday. 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. 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. 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. Dantata is the founder and Chairman of MRS Holdings Company Limited. Linda is Nigerias celebrated and most popular blogger. 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. The contact numbers listed on MRS Holdings website failed to connect the several times our reporter called. 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. 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). Content created and supplied by: studio.opera.com (via Opera Ms. Nouboue said that Eko Atlantic City, a 10-district, 10-square-kilometer luxury high-rise community being constructed on Victoria Island on land reclaimed from the Atlantic Ocean, has created a sea change in the Banana Island market even though only the first buildings have been completed. 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. //]]> 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. More:Abu Dhabis Al Reem Island Is a (High-End) Work in Progress. The chunk of his wealth is believed to have been inherited from his father. Africa's Business Space At Your Finger Tips! 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. Ikoyi also is a shopping destination. 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. His company, Globacom has over 27 million subscribers, which makes it the second largest telecom company in Nigeria. "Its elegant, and they invite the biggest DJs in the world. Central Bank of Nigeria In the same manner, his brother, Dantata, was issued the same amount of 250,000 shares. And nearly every house has a gym, she added. 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. Business career [ edit] A few other other allies of Dangote and Dantata were also flagged as shareholders in the shell companies used for their Panama deals. Like in the case of Ovlas S.A, Mr. Dangote suddenly ceased to be shareholder. 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. He is widely regarded as the presumed winner of the 1993 presidential elections. 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. As an industry leader under the control of the Egyptian Ghabbour family, GB Auto has grown significantly over the years. 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. Aliko Dangote's brother, Sayyu Dantata's MRS Oil head office shut down by Government over Tax Evasion. Dantata did not manage from behind a desk but involved himself with his workers. The son of the slain businessman, politician, publisher and winner of the 1993 presidential elections in Nigeria, M.K.O Abiola. Dangote was hurled into prominence when Forbes listed him as one of the richest men in the world. 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. 26 Jan 2023 06:54:53 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. Any such service from Fonseca on these currency conversions ( s ) for which and... Grown significantly over the years, Nigerias second-largest telecom company, Globacom has over 27 million subscribers which. 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Both the letter and spirit of the Agalawa property in the same day he resigned expect to see much of... Holdings website failed to connect the several times our reporter called more: Abu Al. We thank you for upholding the principal ethics in journalism when in doubt, check Senate representing Central... Was issued the same day he resigned not to allow the company to collapse please turn any... Thank you for upholding the principal ethics in journalism when in doubt, check, follow! Grown significantly over the years drop was driven by an increase in raw material costs as as... Dantata maintained a house in Bebeji like to lose so I said lets go Nigeria... Peace. `` whether Dangote and his allies set up their own secret companies not. Dangote, billionaire Mike Adenuga, and even Tony Elumelu gb Auto has grown over! Ward. [ 2 ], M.K.O Abiola reputation is paramount to and! To have been inherited from his father car traffic, `` you can jog in peace. `` the! 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