Nigeria’s former Vice-President and co-founder of Integrated Logistics Services Nigeria Limited (Intels), Atiku Abubakar, has been selling his shares
Nigeria’s former Vice-President and co-founder of Integrated Logistics Services Nigeria Limited (Intels), Atiku Abubakar, has been selling his shares in the company over the years.
While making the disclosure in a statement on Monday by his media aide, Paul Ibe, the former vice president said the divestment has assumed greater urgency in the last five years.
According to Atiku, the present administration has been preoccupied with destroying a legitimate business that employed thousands of Nigerians because of politics.
“There should be a marked difference between politics and business. Co-founder of Integrated Logistics Services Nigeria Limited (Intels), Atiku Abubakar, has been selling his shares in Intels over the years.
“It assumed greater urgency in the last five years because this Government has been preoccupied with destroying a legitimate business that was employing thousands of Nigerians because of politics. He has sold his shares in Intels and redirected his investment to other sectors of the economy for returns and creation of jobs,” the statement shared with The Cable read.
Intels, a company which provides integrated logistics services for Nigeria’s maritime, oil and gas sectors, in 2010, signed an agreement with the Nigerian Ports Authority (NPA), which allowed the firm to collect revenue on behalf of the federal government agency on some port operations.
However, it has run into trouble with the federal government over allegations of illegalities. The boats pilotage agreement signed with the federal government was terminated in 2017 after Abubakar Malami, the Attorney-General of the Federation (AGF), said it was a violation of the constitution.
