Atiku: FG Persecution Forced Me to Divest from Intels
Atiku Abubakar , former vice-President speaks during the opposition People's ..by Democratic Party (PDP)'s national convention in Port Harcourt, Rivers State on October 6, 2018. Photographer: Pius Utomi Ekpei/AFP/Getty Images
Former Vice President Monday disclosed that the federal government persecution against him and his business interests forced him to divest from Integrated Logistic Services (INTELS) Nigeria Limited, a lucrative logistics company operating in both maritime and oil industry.
Atiku explained that having discovered that the federala government was all out to destroy his businesses, including Intels using its agency, he took a decision to divest from the logistics company to save it.
Atiku’s media aide, Mr Paul Ibe, disclosed this in a statement Monday.
Part of the statement reads: “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.
“There should be a marked difference between politics and business.
“Yes, he has sold his shares in Intels and redirected his investment to other sectors of the economy for returns and creation of jobs.”
The former Vice President accused federal government of destroying businesses that have employed Nigerians just because of politics.
Atiku was said to have sold his shares in Intels through Guernsey Trust International, a family trust firm, to Orlean-Invest Group, Intels’ parent company, beginning from 2018 and concluded the deal which was about $100 million last year.
THISDAY in a report said the Minister of Information and Culture, Alhaji Lai Mohammed, when asked to react on the allegations of persecution against Atiku and his business interests, pleaded for consultations before making a statmeent.
In a statement Monday, Intel’s spokesman, Mr. Tommaso Ruffinoni, also confirmed in a statement that the former VP has been paid off.
Ruffinoni in a statement said, “In the period between April and May 2020, Mr. Atiku Abubakar converted his remaining shares into a convertible bond that he subsequently monetised up to a residual sum of approximately $29m.
“When he requested to cash in the above-mentioned sum, our group contested to Mr. Atiku Abubakar a debt, towards our group, of $24.1m. Without having received any answer regarding the matter, on 30th of November 2020, Mr. Atiku Abubakar was informed about the set-off of such sum while we made available the remaining sum of $5.4m.
“With the completion of the above-mentioned transactions, the era of Mr. Atiku Abubakar family’s involvement with the Group Orlean-Intels is over.
“On 1st December 2020, our group terminated also the working relationship with Mr. Abubakar’s sons, Mr. Adamu Atiku-Abubakar and Mr. Aminu Atiku-Abubakar, and since that date, our group does not have any contacts, neither direct nor indirect, with members of Mr. Atiku Abubakar’s family.”
It would be recalled that the management of Nigerian Ports Authority (NPA) had terminated its 17 years old pilotage contract with Intels in what was seen as politically motivated.
NPA had however accused Intels of failure to remit boat pilotage revenue amounting to $207.646 million (N78.905 billion) to the federal government.
Atiku explained that having discovered that the federala government was all out to destroy his businesses, including Intels using its agency, he took a decision to divest from the logistics company to save it.
Atiku’s media aide, Mr Paul Ibe, disclosed this in a statement Monday.
Part of the statement reads: “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.
“There should be a marked difference between politics and business.
“Yes, he has sold his shares in Intels and redirected his investment to other sectors of the economy for returns and creation of jobs.”
The former Vice President accused federal government of destroying businesses that have employed Nigerians just because of politics.
Atiku was said to have sold his shares in Intels through Guernsey Trust International, a family trust firm, to Orlean-Invest Group, Intels’ parent company, beginning from 2018 and concluded the deal which was about $100 million last year.
THISDAY in a report said the Minister of Information and Culture, Alhaji Lai Mohammed, when asked to react on the allegations of persecution against Atiku and his business interests, pleaded for consultations before making a statmeent.
In a statement Monday, Intel’s spokesman, Mr. Tommaso Ruffinoni, also confirmed in a statement that the former VP has been paid off.
Ruffinoni in a statement said, “In the period between April and May 2020, Mr. Atiku Abubakar converted his remaining shares into a convertible bond that he subsequently monetised up to a residual sum of approximately $29m.
“When he requested to cash in the above-mentioned sum, our group contested to Mr. Atiku Abubakar a debt, towards our group, of $24.1m. Without having received any answer regarding the matter, on 30th of November 2020, Mr. Atiku Abubakar was informed about the set-off of such sum while we made available the remaining sum of $5.4m.
“With the completion of the above-mentioned transactions, the era of Mr. Atiku Abubakar family’s involvement with the Group Orlean-Intels is over.
“On 1st December 2020, our group terminated also the working relationship with Mr. Abubakar’s sons, Mr. Adamu Atiku-Abubakar and Mr. Aminu Atiku-Abubakar, and since that date, our group does not have any contacts, neither direct nor indirect, with members of Mr. Atiku Abubakar’s family.”
It would be recalled that the management of Nigerian Ports Authority (NPA) had terminated its 17 years old pilotage contract with Intels in what was seen as politically motivated.
NPA had however accused Intels of failure to remit boat pilotage revenue amounting to $207.646 million (N78.905 billion) to the federal government.
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