"> Atiku Sells off Shares In Intels, Accuses Buhari Of Destroying His Business - Sahel Standard
April 22, 2021
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Atiku Sells off Shares In Intels, Accuses Buhari Of Destroying His Business

A former Nigerian Vice President Atiku Abubakar has accused the President Muhammadu Buhari administration of “destroying his legitimate business that was employing thousands of Nigerians because of politics”.

Abubakar, a co-founder of the Integrated Logistics Services Limited (Intels) said on Monday that he was forced to divest his shares in the company because the Buhari administration has been “preoccupied with destroying” it since 2015.

The company provides integrated logistics services for Nigeria’s maritime, oil and gas sectors.

In 2010, Intels 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.

But for more than four years, the company has been at loggerheads with the federal government on several occasions over alleged illegalities leading to the federal government’s termination of the boat pilotage agreement it signed with the company, after Abubakar Malami, attorney-general of the federation (AGF), said it violated the constitution.

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 him, the present administration has been preoccupied with destroying a legitimate business that was employing thousands of Nigerians because of politics.

“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.”

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