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. Aliko Dangote is widely known for his staggering wealth. Delivers the most important property news around the world to your inbox each weekday. 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. [3] Abdullahi died in Bebeji around 1885. Lubricants: engine oil, industrial oil, transmission oil, marine oil, grease, and specialty lubricants are highly demanded, especially in the automotive and industrial sectors, with the influx of used and new personal and commercial vehicles increasing by the day. XE Currency Converter 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. Despite this challenge, the management team is focused on enhancing the companys global market position. It is dedicated to teaching polo to all ages, particularly grass roots youth. Dantata, who is Dangotes stepbrother, is the founder and chairman of MRS Holdings Company Limited. "Banana Island is all about location," she said. 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. Tukur was his son. As part of a recompilation, Abbas returned the confiscated lands around Kano to the Agalawa families. He traded in cattle, cloth, beads, precious stones, grains, rope and other things. More:Abu Dhabis Al Reem Island Is a (High-End) Work in Progress. Dangotes account was in operation till August 2004. Africa's Business Space At Your Finger Tips! They all received their portion according to Islamic law when he died. This literary means they resold the shares back to themselves. He did not own a house there, but was satisfied with the accommodation given to him by his patoma (landlord). In providing those services, we follow both the letter and spirit of the law. At the time of his death he was the wealthiest man in West Africa. Anil Kumar Ahluwalia, whose company name is Santosh Investment Limited S.A is connected to a Panama shell company called Lotus Trust Services Sarl. Business career [ edit] Grand Champions Polo Club13444 South Fields RoadWellington, FL 33414. At the time of his death he was the wealthiest man in West Africa. The Worlds Best Cross-BorderInvestigative Team, ANCIR is not responsible for the content of external sites | More:Glasgows Pollokshields Has Mansions, Green Spaces and an Artsy Vibe, "There are more apartments and terrace houses than detached single-family homes because land is so scarce and land prices are so high," Ms. Nouboue said. She survived an assassination attempt in 2003 and is known for her political ambition and affiliations. As was the tradition, the bulk of his earnings went to his mallam. She left the children in Bebeji, in the care of an old slave woman named Tata. More:Marshan Offers the Very Best of Tangiers Enduring Allure. 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. "She came from my dad and it was one of my dad's best horses forever," Arellano said. We thank you for upholding the principal ethics in journalism when in doubt, check. Sayyu Dantata is the son of Alhassan Dantata who was the wealthiest man in Africa at the time he passed away in 1955. It's definitely different playing mixed polo but I love it.". He had substantial amounts of capital. He worked for money on Thursdays and Fridays. Did you know that Dantata and Africas richest man, Aliko Dangote are cousins? They include Lagos Preparatory & Secondary School, a co-ed day school for students 18 months old to over 16 years; the British International School, a British curriculum secondary school for students 7 through 13 years old that offers a boarding option; and St. Saviours, a British curriculum school for children up to 6 years of age. Dantata, who is one of Dangote's cousins, is the founder and chairman of MRS Holdings Company Limited. Read the full response from Mossack Fonseca, African Network of African Reporting Centres. 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. 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. 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They serve cocktails, and theres a pool.". It was the only club in the nation to stage two 20-goal fall tournaments in addition to the International Cup and Legends of Polo Carlos Gracida Memorial. An engineer by profession, he started his career as the transport director with his uncles company and rose through the organization. Tundun leads a largely quiet lifestyle with the exception of rare appearances at social events. newsheadline247-February 9, 2023. We only incorporate companies, which just about everyone acknowledges is important, and something thats critical in ensuring the global economy functions efficiently. I tried my best. 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. That was also dated April 12 2006. To keep reading for free, please enter your email! I love her. Corlay Global S.A. and SID Holdings Group are among other companies owned by MRS Holdings and Dantata. Tukur received his religious training from a Tijaniyya scholar and received the support of the Agalawa. 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. Our reputation is paramount to us and we are conscious of the downside of it. 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. Unknown to many, there are other several relatively unknown billionaires who make power moves behind the curtain and are controlling enormous wealth through several businesses. AMINA MAINA oversees all trading, supply, and operations of thegroups activities spanning over 6 countries, including Nigeria. Nigerian businessman Sayyu Dantata, the stepbrother of billionaire Aliko Dangote, has launched a $450-million lubricant plant in Lagos through Bestaf Lubricant Limited. Yes! Mossack Fonseca, the company behind the registration of the shell companies, said it does not direct the companies it incorporates for its clients and therefore cannot be held liable for the uses to which the firms are put. Oriental Weavers, a prominent carpet manufacturer based in Egypt and led by accomplished business tycoon and executive Yasmine Khamis, faced a decline in profits below the EGP950 million ($31 million) mark at the end of its 2022 fiscal year. The chunk of his wealth is believed to have been inherited from his father. The acquisition may face hurdles as Johann Rupert, the South African billionaire who leads Richemont, has shown resistance to potential takeovers. 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