Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


#PanamaPapers: Dangote, brother implicated

08 April 2016, 12:05

Abuja - As the Panama Papers scandal continues to unravel, Africa’s richest man Aliko Dangote has become the latest bigwig to be mired in the shadowy financial conspiracy.

Documents released by the Panama-based law firm Mossack Fonseca, reveal that Dangote, his relative, Sayyu Dantata, as well as his business allies have over the years used shell companies domiciled in numerous tax havens to run their business dealings.

Dangote, with an estimated worth of $15.4 billion, is one of the most prominent clients of Mossack Fonseca, with over 13 shell companies directly linked to persons and companies who in turn are linked to the billionaire and his allies.

Also read: Panama Papers: UK banks told to report links by April 15

Dangote, alongside his half brother, Sayyu Dantata, the founder of MRS Holdings (a leading West African oil-marketing firm, which acquired Chevron-Texaco’s downstream assets in 2007) bought a number of shares (from OVLAS S.A, and Petrowest S.A,) in well-known tax haven, Seychelles, and resold to themselves at marked-up prices after claiming to relinquish ownership of such shares.

However, the Dangote Group has denied involvements in shady dealings, claiming they have no relationship with off-shore entities.

Source: Premium Times

- News 24


Read more from our Users

Nigeria @ 56: Words to my green f...

A leader’s job is not to dictate, but rather to be respected, admired and be a trustee, of the land we love, with so much potential, a land which should be freer than free. Its still a long way to fufilling our destiny! Read more...

Submitted by
Isaac Asabor263
Recession: An opportunity for Nig...

The recession should be seen as an opportunity for the country’s promotion as long as we all collectively conduct ourselves in a patriotic manner, writes Isaac Asabor.  Read more...

Submitted by
Black and White

We want to imitate the whites in everything because we are ignorant of our inherent originality and content. We spend all our Naira to acquire his inventions because we so oblivious of our natural endowments that we allow him have it for free. Read more...

Submitted by
Nate Nat
Adamawa State University Mubi: A ...

ADSU integrity forum has accused the Sunday Joshua Wugira, a lawyer, of adopting unorthodox tactics by abusing his privilege by attacking the integrity of ADSU Vice Chancellor Dr. Moses Zira Zaruwa, writes a News24 reader. Read more...

Submitted by
Abdulsalam Jubril
My Country Nigeria (Part One)

Poetry by Abdulsalam Jubril.

Submitted by
Abdulsalam Jubril
Recession, dearth in leadership a...

Every leader has the opportunity to become great and making himself immortal in the lives and hearts of people for generations to come. Will Mr. President seize this opportunity?, questions Abdulsalam Jubril. Read more...