Atiku Accuses Buhari Of Frustrating Legitimate Business As He Divests Shares From INTELS

Former Vice President, Atiku Abubakar has divested his shares from the Integrated Logistics Services Limited (INTELS).

In a statement on Monday, December 4, 2021, Atiku said he was forced to sell off his shares in the company because the Buhari administration has been “preoccupied with destroying” it since 2015.

The statement signed by Paul Ibe, his spokesman, Atiku accused the Buhari-led government of going after the business, adding: “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 read.

Recall that Atiku co-founded the company which 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.

In 2017, the Federal Government terminated the boat pilotage agreement it signed with the company, after Abubakar Malami, the Attorney-General of the Federation (AGF), said it violated the constitution.

Amongst other irregularities, the company had been accused of not paying taxes in 2017 — the same year NPA accused it of failing to remit an outstanding $48 million.