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. AMINA MAINA oversees all trading, supply, and operations of thegroups activities spanning over 6 countries, including Nigeria. GB Auto is a Cairo-based automaker led by the family of the late Egyptian auto tycoon Raouf Ghabbour. 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. Many people using offshore companies do so legally and offshore companies indeed have many legal purposes. As a result, LVMHs pursuit of Cartier may not yield the expected outcome. DISCLAIMER: The currency conversion is provided for illustration purposes only. He is my favorite teammate. 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 investigation unveiled the cloak of secrecy provided by Mossack Fonseca, a Panamanian law firm that specializes in creating offshore companies, some of which have been used by con men and women to hide Ponzi schemes, predatory lending scams, and other financial frauds from their victims and from the authorities. However shell companies are at times used for tax avoidance. That happened on October 12, 2012. I just went in wanting to do my best and play hard. 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. 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. "I love it. 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. is a great place to go on Friday nights," she said. The groups operations span several West African countries, including the Benin, Togo, Cameroon, and Cote dIvoire. For instance in 2010, the management of Bank PHB, a Nigerian bank, dragged M.R.S Holdings Limited, owned by Dantata, to court over the non- payment of US$58 million loan the bank granted it to purchase Chevron Texaco in 2008. "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. Sanusi Dantata (c. 1919 - 15 April 1997) was a Nigerian entrepreneur and son of Alhassan Dantata. He holds aBachelors degree in Economics from the ParisAcademy and has been with the MRS Groupsince 2004. It was the first time he played against polo great Adolfo Cambiaso. newsheadline247 - August 25, 2017. Marco ensures that all activities carried out in the terminals, areperformed according to highest international standards (API,Ocimf, Isgott). "The first houses that were built are in British and Dubai traditional styles," Ms. Nouboue said. 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. After a rest of only one day, she took him to a mallam and asked Dantata to stay there until he was ready to return to Bebeji. The contact numbers listed on MRS Holdings website failed to connect the several times our reporter called. 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. Unlike other established Kano merchants, he was in his mid-thirties, with a small family and retinue to support. Linda is Nigerias celebrated and most popular blogger. 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. To keep reading for free, please enter your email! The lubricant plant comes with a capacity to produce as many as 1,700 different products in the petroleum chain. It has the power to change the world.. He told them that his days were approaching their end and advised them to live together. 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. The Worlds Best Cross-BorderInvestigative Team, ANCIR is not responsible for the content of external sites | [8], In 1955, Dantata fell ill. Because of the seriousness of his illness, he summoned his chief financial controller, Garba Maisikeli and his children. Register for updates and alerts on ANCIR Investigations. Dangote and Dantata bought equal shares of 12,500 each from Petrowest S.A. MRS Oil and Gas Co. Ltd also bought 25,000 numbers of shares from Petrowest, just as was done with OVLAS S.A. Again, three years after they existed as shareholders, the trio Dangote, Dantata and M.R.S Oil and Gas Company Limited ceased to be shareholders in the company. and was honoured by the Federal Government of Nigeria with the title of the Grand Commander of the Order of the Niger. Samoa is one of the various countries used as tax havens by large corporations. More:Comporta, a Portuguese Village Where the Well-Heeled Go for Some Privacy. newsheadline247-February 9, 2023. Dangote and Dantata have allegedly used their multiple companies in Nigeria and other countries to secure huge loans. He began his career as Director of the Engineering and Transport Division of Dangote Group, considered the Largest Nigerian conglomerate. His company, Globacom has over 27 million subscribers, which makes it the second largest telecom company in Nigeria. Despite the famine in Kano in 1914, he quickly dominated the groundnut purchasing business via promotions, loans and contacts. 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 . Mr. Alhaji Sayyu Idris Dantata is the Founder and Chief Executive Officer of MRS Holdings Ltd (Formerly, MRS Group). 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. In providing those services, we follow both the letter and spirit of the law. Their company MRS Oil and Gas was re-issued 500,000 shares. Sayyu Dantata. 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. [1][2] He is the great-grandfather of Aliko Dangote, the wealthiest person in Nigeria and Africa. He is widely regarded as the presumed winner of the 1993 presidential elections. Nigerian is a Nigerian politician and the first female President of OPEC. As part of a recompilation, Abbas returned the confiscated lands around Kano to the Agalawa families. "I am happy I won," Dantata Jr. said. They are frequently used to shield the identities of owners and/or to hide money. 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. 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. 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. After her death he focused his attention on new opportunities in Lagos and Kano. Alhaji. His net worth has never been successfully estimated given his extremely private life and business dealings. Additionally, the company is developing a pricing strategy with alternative product offerings. Some people own shell companies so that when they acquire assets like private jets and real estates, governments do not find out to demand tax. Nigeria, Africas most populous nation, is home to some of the richest men on the continent. She was accused of organising a diversion of $6 billion (N1.2 trillion) from the Nigerian treasury and was arrested in London in 2015. A few other other allies of Dangote and Dantata were also flagged as shareholders in the shell companies used for their Panama deals. Despite experiencing a single-digit 5.2-percent decrease in revenue during the review period, the groups profit skyrocketed by an astounding 496 percent, surging from EGP 1.77 billion ($57.8 million) in 2021 to EGP 10.54 billion ($344.2 million) in 2022. 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"I just don't like to lose so I said lets go for Nigeria. Shell companies, experts say, are entities that have no active businesses and usually exist only in names as vehicles for another companys business operations. window.__mirage2 = {petok:"NU1XWiS0aIgqL2kNAZJSViJcfj6ZI_mmTiSkiHqpr5Y-3600-0"}; Thereafter, he moved on to start his own business and now serves as the Chief Executive Officer of the MRS Group. Mr. Sayyu I. Dantata is the Founder and Chief Executive Officer of MRS Holdings Ltd (Formerly, MRS Group). 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). The 200-million-liter lubricant plant is the first of its kind in West Africa and covers the entire value chain of lubricants. Basically, the [] The horses make you love them. 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. 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. His mother, who had never remarried, died in Accra around 1908. Dantata is the founder and chairman of MRS Holdings Company Limited. Other business allies. 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. However, he is revered in the growing Nigerian polo community as a patron and also ranks as a strong player. [citation needed], Dantata applied for a licence to purchase and export groundnuts in 1940, on the same level as the United Africa Company. Delivers the most important property news around the world to your inbox each weekday. Grand Champions Polo Club13444 South Fields RoadWellington, FL 33414. Some others set up shell companies to raise funds before starting operations, to attempt a takeover or as a front for an illegal business. "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. "I won my debut, that's a good thing. Central Bank of Nigeria Please contact us using the information below. More:Abu Dhabis Al Reem Island Is a (High-End) Work in Progress. "Arellano got the opportunity to play with her brother Lucas, 20, who subbed for Dantata Sr. "It was so much fun today," Arellano said. 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. Aliko Dangote's brother, Sayyu Dantata's MRS Oil head office shut down by Government over Tax Evasion. In a similar development in September 2014, Sani Dangote, younger brother to Dangote, was dragged before a Federal High Court in Lagos over his alleged failure to liquidate about N5 billion loan granted him by Union Bank. Its' mission is to provide individuals opportunities in polo at every economic and ability level. It is dedicated to teaching polo to all ages, particularly grass roots youth. The billionaire recently launched Bestaf Lubricant Plant, a subsidiary of MRS Group. "Having a presence in Banana Island is an indication of your societal class," he said. 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. First Avenue in the north and Second Avenue in the sound merge and run around its perimeter. Expect to see much more of him this year. 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. ALHAJI SAYYU DANTATA is a mechanical engineer by training having attended the Morris Brown College in Atlanta, Georgia, USA. He was a director of the Nigeria branch of Shell B.P. "I don't know what happened in that last chukker," Dantata said. 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. There are three mixed-use high-risesthe Adunola, the oldest, and Lakepoint Towers and Desiderata, which were built in the last two years. 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