EXCLUSIVE: NPA moves against Atiku’s biggest cash cow, Intels, over TSA policy, project funding

Atiku Abubakar
Atiku Abubakar

The Nigerian Ports Authority and and Integrated Logistics Services Nigeria Limited (Intels), Nigeria’s leading logistic firm for the oil and gas industry, are locked in a fierce business dispute, with the NPA threatening to terminate Intels’ port revenue collection contract, PREMIUM TIMES can authoritatively report today.

Those familiar with the matter said the dispute, which has seen the two parties hold several tension-soaked meetings and exchange aggressive correspondences, arose from Intels’ alleged non-compliance with the Federal Government’s Treasury Single Account policy.

The two parties also appear to disagree over the funding of a key capital project the logistics company is handling for the NPA, according to correspondences seen by PREMIUM TIMES.

Intels was co-founded by former Vice-president and chieftain of the All Progressives Congress, Atiku Abubakar; and an Italian businessman, Gabriel Volpi, in the 1980s.

The Revenue Sharing, TSA face-off

On March 15, the Managing Director of the NPA, Hadiza Bala-Usman, wrote to Intels asking it to comply with government’s TSA policy, which demands that service boat revenues collected through commercial banks must immediately be swept into the relevant account in the Central Bank of Nigeria.

Ms. Bala-Usman had proposed a new arrangement for sharing the revenue stream. The company will receive 28 percent as agency commission from boats service revenues, while the remainder will be shared on a 30:70 percent ratio in favour of government and the company respectively.

The TSA was introduced by government to enthrone centralized and transparent management of all government revenues and plug leakages. Some analysts have criticised the policy saying the nation’s financial sector is under severe stress as the TSA policy starves commercial banks of cash.

But in its March 27 response, Intels, though, accepted the new sharing arrangement, it, however, said it was unable to comply with the TSA policy because it had loan commitments with some commercial banks.

“We still have an issue with the making of payments to a financial institution with complete sweep of funds to the TSA account,” the company said.

The company said it used its books as collateral for the loans and that compliance is only possible if creditor banks continued to collect and hold revenue on its behalf.

“As you will understand, this (total compliance with TSA) will be unacceptable to the banks,” said the company, in its letter signed by Chief Executive of the company, Andrew Dawes, to Ms. Bala-Usman. “The result of this will be a run of our financing. We are sure this is not a result NPA desires.”

According to the company, both parties have subsisting agreement which also involves third parties. The third parties, including banks, came into business based on “approved understanding” that part of the collections would be used to service Intels’ commitments to them, the company said.

The NPA’s TSA requirement, according to the company, meant “all funds”, including what is due to it and third parties, will go to the TSA first and, afterwards, the parties will be paid their entitlements from the CBN.

“But we can marry the two; keep the agreement and still comply with the TSA policy which should be for only money due to the NPA, indirectly the government,” said the company.

However, in another letter to the company on April 19, the NPA told Intels the government’s policy on TSA is “sacrosanct and must be complied with”.

The ports regulator said it had even displayed magnanimity by allowing the collection of boats service revenue using two commercial banks even in the face of the TSA policy. It said the arrangement was to allow a window for both parties to track transactions before they are subsequently swept into TSA accounts in the CBN.

“Therefore, your expression of fears is unnecessary as no party will be short-changed in any form,” NPA said.

Those familiar with the matter said the logistics company is yet to respond to NPA’s April 19 letter.

Giving further insight, officials who asked not to be named said NPA’s insistence on TSA compliance is to ensure transparency so that the Authority knows what actually comes in as revenue before sharing among parties based on the new terms proposed.

The authority fears the company could under-declare revenue collection before effecting payment to NPA, hence, the demand that all revenues first go into TSA for both parties to see before sharing.

The stand-off over project financing

The two parties are also bickering over the financing of “Phase 4B” project, which entails the expansion of Floating, Production, Storage and Offloading units and container terminals at Onne.

Intels says NPA is owing it $109million for the project. The company also wants the regulator to pay parts of the interests that accumulated from the loan it took from banks to finance the project.

“Please accept our thanks for acknowledgement of the reconciled but not yet amortized outstanding amount due of $764,767,414 which sum is for executed project costs on the development of Phase 4B, while we look forward to further discussions on the reconciliation of the outstanding $109 million (which we gathered Intels utilized outside the original work scope of the pase 4B project).

“As has been stated, we need a roadmap towards the repayment of the outstanding loan. As demonstrated, it will take approximately over 27 years to pay back the outstanding amounts. Both parties will need to agree on a realistic mechanism to back outstanding amounts within a reasonable period of time. We have to explore other mechanisms for repayment and are available to discuss options,” Intels further told NPA as conditions for accepting a new revenue sharing arrangement proposed by government.

Accept our terms or lose contract – NPA

However, NPA has told Intels it must comply with the TSA policy, and accept the new revenue sharing arrangement.

Further, NPA said issues raised about interest rate and loans obtained by the company were not government’s concern.

“It is important to reiterate that the the Nigerian Ports Authority was not in anyway a party to the loans you had negotiated and secured from commercial banks. The Authority would not like to get involved on how you intend to re-negotiate the interest rates,” NPA said.

On project funding, NPA acknowledged a reconciled $674,767,415 which has not been amortized, but also took notice of a jointly reconciled $128,287323 that is yet to be remitted to government.

Then, the $109 million Intels claimed to have expended “outside initial phase 4B scope of work” would be investigated, re-negotiated and resolved soon, NPA added.

Further, NPA said, going forward, all repayment of reconciled costs of projects, including phase 4B, would be from revenue generated from boats service only. It said other revenue streams would be used for other projects and commitments of the government.

Having rejected Intels’ conditions, NPA asked the company to sign the agreement for the new sharing arrangement to enable “unhindered commencement of the collections of revenue through the dedicated account with the nominated commercial banks.”

“To the extent that you are unable to agree to the terms as proposed, the Authority is left with no other choice but to proceed with the collection of the revenue to our accounts without duly signed supplemental agreement following which termination process of the contract will invariably commence as we have been given directives to ensure immediate compliance to TSA on this revenue source,” NPA said.

But the company said negotiations were ongoing with NPA to resolve the disagreement in ways that both parties will be “happy”.

Intels my most successful business — Atiku

Intels holds the concession for the building and operation of most of Onne Port in Rivers State. The port has two terminals: Federal Ocean Terminal (FOT), and Federal Lighter Terminal (FLT).

The FOT, according to official information accessed by PREMIUM TIMES on NPA’s website, has four phases, of which three have been completed with 11 berths and are being operated by Intels.

Similarly, Intels was responsible, on public-private-partnership basis, for the development of the FLT, commencing 1982 when it was “under-used”; and operates its second, third and fourth berths. Another concessionaire, Brawal, operates the terminal’s first berth.

Onne is the most important hub for oil and gas industry in Nigeria, accounting for 65 per cent of cargo export through the country’s sea, according to NPA, and hosting operations of all major oil and gas companies within its massive free trade zone.

So, over the years, Intels has made billions of dollars from the port, through near monopolistic operations, which it helped develop as concessionaire; and created thousands of jobs.

“Intels is my most successful business,” Atiku said, while launching his 2015 presidential bid in September 2014.


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  • ailandaaa

    D Kaduna Midget’s hand is all too obvious here. Ahead!

    • Enemona

      Shame on you for politicizing what’s the right thing. Where exactly is the outrage in your comment? Here we have a company owned by a former VP, which for ethical reason should never have been offered such contract yet has been breaking the rules. I expect every sane Nigerian to express outrage. Intels, or whatever funny name it’s called, should comply with TSA immediately.

      So there are government contractors/agencies that are still not complying with TSA? We demand that CBN published their names.

      • Musty

        The fact that ‘it is the right thing’, DOES NOT remove the fact that politics could be involved.
        Example: The ‘right thing’ was the reason for the initial committee set up to investigate Magu and Babachir-d’grasscutter-Lawal. POLITICS by the AGF(Buhari appointee) ensured he ws cleared in the face of overwhelming evidence.
        If you know the history between those two(atiku, rufai), you won’t sound so ignorant. Or maybe you just choose to be blind.

        • Malik

          Nobody gives a rat’s arse.
          It’s over 2 years now, Intels should comply with the TSA directive.
          All the other tori wey you type na between you, Atiku and El Rufai.
          We, ordinary Nigerians no care – period.

        • kinsly

          So because its Politics we should keep quiet and allow Intels to rip off our Fatherland? Or what do you rather suggest?

      • Wisdom E

        Dude, this company won this contracts 1985 and 1988……that’s a good 10yrs b4 he ever ran for public office….. What ethics are you talking about?

  • Infoezone Infoezone

    all these northerners fighting over what does not belong to them. please go back to your arid north and develop a sea port there. dont even know how atiku got this kind of contract.

    • Eluba Inas

      It is that arid north that is feeding the nation. Drop you ethnic hatred and address the issue here–non compliance with TSA policy.

    • kinsly

      Comment of a retard.

  • ed

    NPA should cancel the illegal contract with Intel. The new arrangement is still overwhelming generous. Unfortunately greedy politicians are never satisfied.
    The TSA has to apply to every corporation without exception.
    President Buhari should be appropriated on the contributions to national sanity.
    That may surprise some people given my opposition to his leadership in the Fulani’s terrorist herdsmen issues.

    • AFRICANER

      TSA was put in place by Jonathan administration.

      • Malik

        Yes it did, just like the BVN but did GEJ possess the balls to enforce it?
        Of what use are laws and policies if they are not enforced?

        • AFRICANER

          True.

          See my response to Gbola.

      • Gbola

        But it was NEVER IMPLEMENTED by Jonathan because apparently it would block the awoof enjoyed by both he (Jonathan), Dasuki, Badeh and others.

        • AFRICANER

          Whose hands are clean in Nigeria?

          At least, we should give proper credit to those who innovate, and put in place good policies, and or institutions, that would outlive them; if they chop money and perform, they are still better than the ones that chop money and didn’t perform.

          We should always prefer a nation of lawa, over a nation of laws.

          Jonathan was a minority president, who didn’t have the gravitas of a former Army General, and their cabal of insiders, Britain, Colonialists, and other evil doers that is stunting the progress of our country. He is not a gero. He didn’t stop these ruling class; he didn’t rock the boat. He was not good enough. He was a mere symptom, not the disease. The thiefs, the Generals, such as Obasanjo and the cabal told him what to do, and more importantly, not do. He is a distraction; if you are fixated on him, you miss the forest for the tree.

          • tundemash

            Mr. AFRICAN LIAR, finally, reality is dawning on you over Dumbo. Same Dumbo you were spending sleepless nights here , with different monikers, asking us to vote back then is what you now call an accident !
            If you have any shame at all, go return the small change you took from TAN and other shady outfits Dumbo was using to campaign back then.

          • AFRICANER

            LIAR MUHAMMED

          • tundemash

            You are still hurting; pele !

          • Malik

            You are right on all points.
            And the most ruinous was letting an individual lacking in gravitas get anywhere near power.
            That was a real tragedy.

      • Abubakar Nata’ala

        But have never for once instructed any MDA to comply with it, your statement is medicine after death, GEAJ doesn’t have the political will to do that.

        • AFRICANER

          True.

          See my reply to Gbola.

  • Rommel

    Claiming that a company that thrives on defrauding govt is his most successful investment shows how dubious Atiku is,TSA must never to circumvented, I am glad the NPA realizes that it is unethical for a company that collects revenue for government to enter into loan agreement using the operations as security yet does not want govt to know how much revenue it collects, I had been a supporter but now knowing how Intel operates shows Atiku is not a successful businessman like he claims but rather a rogue like the rest of them.

  • Patrick Otobo

    Atiku of Halliburton!! Atiku of Intels! Atiku of Malabu!!!! This man is still the most corrupt public officer in the history of this country. Nigerians are waiting for you in 2019.

    • kusanagi

      He could be president. What does that say about the country if what you say is true?

    • Nuorah

      By the grace of God Atiku will become Nigeria President whether you like it or not

      • Malik

        Leave your god out of it, he’s not eligible to vote.
        Na your household go make am president when the time reach – no worry.

      • FineBoy

        God no get PVC

    • Omooba Adekunle Orafidiya

      Bola Tinubu is actually the most corrupt Nigerian ever. And, it’s not even close.

      • Gary

        Can we have multiple joint winners please? Dem boku.
        Anyone who knows about the system in Nigeria can only laugh when you hear talk of fighting corruption.
        Before Atiku at NPA there were the likes of the former PDP Chairman Alhaji Bamanga Turkur who made his family fortune from decades as the GM. And he of course helped his people in evading import restrictions and duties.
        Atiku himself was the Airport Customs Commandant during the infamous 53 suitcases smuggled into the country by the Emir of Gwandu when Buhari was military dictator in the 1980s.

        Nigeria is a tale of a cow in which the owners are told to hold the horns while others take turns in milking it. When the owner complains, he gets yelled at that he’s trying to agitate the animal.

    • Sir Louis

      Pat, my dear. In 2019, Nigerians would give Atiku the mandate.

  • MilitaryPolice01

    NPA has to be careful and not be too rigid. Intels explanation makes a lot of business sense, if Intels services its loans by allowing the banks to collect and house revenue on their behalf(for which the bank makes back its money via re-investments and interests), then it is fair business without any underhand dealings. It creates profit for both parties and the economy is better off with the FG/NPA collecting the lion share still. Now if you talk about the TSA for which its processes are still flawed you have to remember that you dont implement new govt policies in one fell swoop without considering practices already in play. It requires a gradual implementation with Intel and the banks given a timeline within which they must adhere (after the loan has been settled), additionally Intels has shifted ground by accepting the 28%/30:70 sharing formula in good faith. NPA should also shift ground and remember that Nigeria is already suffering a negative image as an uncertain place to invest or do business, if a majorly indigenous company like Intel loses such concession with all the multi-billion dollar structures and investments it has made, it will only scare away more investors and the country’s economy will be for the worse. A knowledgeable Finance Minister who recently announced a country coming out of recession on reading this will call the woman at NPA to hold fire because of the effects such could have on the financial/stock market. The country will not fall if NPA gives Intel a year or two to fully comply to TSA so as to enable a healthier resolution with the banks. All this is unnecessary agro and I wouldnt be surprised if the Kaduna Emperor is behind this.

    • Malik

      STORY!!!
      You lot are the first to complain that things are not working as they should.
      Since when has the TSA directive been issued?
      Over 2 years now…so what do you mean by “you have to remember that you don’t implement new govt policies in one fell swoop”
      So you want Intel to be afforded another 2 years added to the 2 years already lapsed to comply fully.
      Na when the country go being move if it takes Intel 4 years to adhere to an Executive directive?
      And what has ‘the Kaduna Emperor ‘ got to do with doing things properly?

    • kinsly

      So Intels collects revenue for govt then uses same revenue collection as collateral to banks to secure loans? Loans for Intels company or loans for NPA? Yet the company do not want the Govt to know exactly how much is collected as revenue? Normally all revenue collected should go to a Govt owned and controlled account then Govt will subsequently remitt Intels agreed percentage.

    • dami

      so you d’ont want the government to know what is remitted to it by allowing it to go banks first and then Intels remits whatever they want to the government? c’mon you and i know this is fraud on the government…let intels comply if they have clean hands..no one is above the law.

    • Factsay

      Govt can collect it’s revenue. Contracting revenue collection to Intel is corruption inherited, therefore, that fraudulent contract should be terminated immediately

    • wode

      Good points! However, I don’t see, as far as this report is concerned, Intel showing readiness to comply with the TSA directive. I don’t think NPA would have any issue with timeline and extension of it, if need be. The problem is that, it intel still seems resistant to the new way. It’s already 2 years into the life of this administration, why would Intel remain adamant to adhering to Government policy while others are already complying or have complied?

      Giving exception or concession may sound good economically but it’s not giving level-playing ground to all the players. The peculiarity of most Nigerians “taking advantage” of every opportunity to corner national resources to their own private pockets has called for more thoroughness in what government does. What says Intel or any other company, for that matter, wouldn’t continue to grow if things are done rightly? The fact that we are used to the old ways, which we have always be complaining about and wants it changed, should not means that right thing shouldn’t be done.

      • Sir Louis

        You can grant exemptions if a business is of strategic value like in the case of INTELS. Remember that there is pressure on government from Universities, research institutes etc., for exemption from TSA because it slows down and kill business. The Nigerian economy is still in great difficulty. What will it benefit Nigeria if in order to comply with TSA, the 9000 Nigerians employed by intels and the several thousand mouths they feed are left in the lurch? Let reason prevail!

        • MilitaryPolice01

          Thank you. There is some hypothesis currently making the rounds that strict TSA implementation by the current FG created a shock contraction in the fragile economy which fast forwarded the decent into recession. This same risk NOI and her team evaluated and withheld its full implementation even though they created TSA. Now I am not blaming Kemi Adeosun for not having the foresight for I know she is just a figure head in the ministry.

  • George

    This is why there is so much money in Nigeria but no company for the youths to work.

    Anybody that founded an investments is a thief and must be brought down and the company closed so how will the nation move forward so all what we see is private jets.

    I hate Atiku and anything touches by yeye North but pls do not kill that company or any other company under any excuses.

    • Sir Louis

      This is pitiable George. Why should you hate a fellow human, let alone Atiku. Did Atiku take your girlfriend?

  • Pirofessor Politico 2000

    @disqus_P6H4CtCIeu:disqus

    Buhari and Osinbajo are the same things

    Nigerians live in an empty world bereft of thought and ideas and therefore conjure up what’s non-existent,
    just to feel less like the wretches of the earth with big empty heads on shoulders custom-made for slavery.
    That’s why Nigerians will invent an illusory comparison and say Yemi Oshinbajo is trying ‘better’; but how?
    Where’s the proof of ‘better’ if the wretched life in Nigeria is all regularly the same and empty of thought?

    What’s ‘better’ in Osinbajo’s unrealistic directive that federal agencies summit their budgets for the year 2020,
    in advance, when the Naira value itself is yo-yo and buffeted by vagaries of ding-dong fiscal and monetary
    policies of the federal government. Is Yemi Oshinbajo just waking up? Has he not been a member of this
    same riotous government of BUHARI, which can’t point to anything done sensibly or correctly since 2015?
    Nigerians have merely pledged their lives to charlatans; and now in despair, Nigerians rue to die in suicide.

    Cut to the chase, Yemi Oshinbajo and Muhamadu Buhari are charlatans cut from the same cloth of retards.
    Ask Yemi Osinbajo: “Where is your anti-recession policy plan?” He’ll chew the nib of his Bic biro for so long.
    There’s really nothing to choose between Buhari and Osinbajo in their insidious and directionless walkabout.
    Neither man understands a theory of governance to understand the politics of resolving under-development.
    In an ideal country, neither man (without a thought-out policy) should be entrusted with the future of a country.

  • Baba Jada

    Business negotiations should not be done on newspapers, The NPA should examine Intels concerns and see if it warrants an exemption from the TSA policy. The strong arming of businesses into deals through media bullying is not a good sign for potential investors. Atiku is not the only shareholder in Intels and decisions that will hurt Intels will not just affect him alone. Lets not forget Intels provides employment to over 9000 Nigerians.

    • Factsay

      One Nigeria my ass.
      This how una use military regime shared our Niger Delta resources among abokis from the core north.

    • FineBoy

      It doesn’t warrant any exemption.
      Other Government agencies are owing Banks and they complied.

      They have been looting and declaring what they like

    • GusO

      Nonsense! You are part of corruption. You must work for the corrupt Atiku.

      • Mr. Abdin

        Intels has been contributing to the economic devt of the country remember where it is located Niger Delta, hope one day the govt will not be pleading for people to come and handle it after their policy has failed.

    • Sir Demo

      So the public has no right to learn about management of our resources? Where is that happening?

  • Factsay

    This one Nigeria no dey work at all. They thief our oil blocs and come join am with ports. Na wa oo!!

    • Gary

      You no see dem? Meanwhile, dey wan kill Tompolo dem say dem chop pipeline contract start Maritime University.

      No single Niger Deltan ranks among the Top Ten richest Nigerians. While all of them are friends of successful coup plotters and linked to the oil and gas industry.
      In addition to enjoying monopolies and import waivers.

      When they get bored, they then decide to run for President or choose for the people who should run for the office. As Dame Patience said “there is God o”.

      • GusO

        Two wrongs don’t make something right. You should not be encouraging corruption. Just because it isn’t right for Atiku to chop doesn’t make

      • Kay Soyemi (Esq.)

        Gary, this is unlike you.

        Though it’s obvious you are not an APC Supporter, you have never lacked objectivity.

        Please don’t lose it now.

    • marcos avelino

      Go drink palm wine and shut up.

      • Factsay

        Dirty mouth of gworo

    • Artful ºDodger

      Which oil bloc, you get oil for SE. Ignorant igbo man. You think say na akpu dem dey talk for here, id1ot.

      • Sir Louis

        You are very rude and abusive. It seems you lack good upbringing.

      • Factsay

        Bingo. Na ur papa get oil bloc wey dey Abia, Anambra and Imo?

  • sule

    If the government allows Intel’s to continue without complying with TSA policy, it will be seen as corrupt and one-sided in policy implementation, and that will give room for rebellion and drawbacks. However,if Intels is disallowed from continuing business as usual, something will have to give. So,the government should consider the merit over demerit. No company or individual is greater than Nigeria and Nigerians.

    • Artful ºDodger

      The demand is simple, do what favors the government, the owners of the revenue in the first place or the deal is off. Its as simple as that and not rocket science. Intel must not be allowed to dictate to government when it must be given its revenues or by how much.

  • Omooba Adekunle Orafidiya

    The NPA woman is actually fighting on behalf of her boyfriend, Nasir El Rufai (who is at daggers-drawn with Atiku). She is not doing all this in good faith. Meanwhile, the Hadiza bum (whose only antecedent is BBOG) has been stealing NPA blind. All contracts are awarded to Northerners. Recently billions of Naira was spent on displaced persons in the North-east from NPA funds. Her feeling of insecurity is reflected in her purchase of bullet-proof vehicles (whose tyres are also supposed to be bullet-resistant). She has also bought body scanners to scan visitors to her office. One day soon, she will give account of these needless expenditure. After all, there have been MDs of NPA before her.

    • Artful ºDodger

      Shove your tribalism down your pie hole! In terms of population is the South more than the North or every jobs in Nigeria must be given to southerners? Why do you people run your mouth in ignorance and acute hypocrisy? Where those who held that position before her going about in bicycles? What is the big deal about a car and what proof do you have she is romantically involved with El Rufai beside the mediocrity and mental el dorado that define you Nigerians of latrine values? “….as we have been given directives to ensure immediate compliance to TSA on this revenue source,” NPA said”. You obviously had a brain bypass as your consciousness was already in overdrive to write nonsense you miss these part of the article. Dude, not everyone who read comments here is igbo or deliberately stup1d.

      • Omooba Adekunle Orafidiya

        Screw you, twerp. I stand by my post.

        • Sir Louis

          Omooba, I support your post, completely.

          • Omooba Adekunle Orafidiya

            Thank you o jare.

      • Rominiyis

        Check the past MDs list and see for yourself. It could not have been a coincidence. Remember its Nigeria second highest revenue source.

    • GusO

      Mrs. Hadiza has done a wonderful job as NPA MD. She has been rooting out corruption from the NPA since she assumed her position. So, Atiku has looted the nation for a long time from when he was the head of Customs to the present day and this corrupt man wants to be the President of Nigeria someday. That will not happen because so many Nigerians are against it.

      • Sir Louis

        You are the only person against Atiku’a political ambition. Any how, you have only one vote. If it is God’s will that Atiku should ascend the Presidency and give Nigerians an inclusive, efficient and worthwhile leadership, there is nothing you can do about it.

        • niran ade

          What change should we expect from Atiku? How different would his time be from that of OBJs? You people will NEVER learn. Can’t you see they are just rotating the stands!! Atiku should continue empowering Nigerians through his businesses and leave the highest office ALONE.

          • sirOscie

            Let us give him the chance and allow him to either impress or disappoint…
            Not missing words Atiku will obviously produce better results than the PMB led government in my own opinion.

          • niran ade

            Oh yea, please tell me you’re not paid to solicit for support online. This is absurd.

          • sirOscie

            Even if I am, It’s a legitimate way of making money…. He is a Nigeria Leader and not regional in my opinion, Which is what Nigerians need now for growth and development.
            Read about the man Atiku Abubakar and you will see my reasons admiration

      • Zirem

        It’s high time people start taking responsibility for the ignorance that comes out of their mouth. If taken to court for your claims can you prove it. Mrs Hadiza has done nothing, in countries where things are done properly and businesses thrive, if there was any suspicion that a private business was being devious, there will be an investigation and their prove will be brought to the table. But in this country is pure witch hunt, must times it feels like the very purpose to which some individuals attend a position. FYI, Atiku was never the head of customs he retired as an assistant comptroller.

    • Gwazy

      dude you are a nigerian stop all this northern southern stuff, it does not help the common man

      • Omooba Adekunle Orafidiya

        Dude, Northerners are taking Southerners for granted with the lopsided appointments of clannish, bigoted Buhari. Would Northerners agree if Southerners turned a juicy parastatal in the North into a Southern preserve? How many Ministers of the Federal Capital territory have been Southerners? I stand by my post.

        • Sir Demo

          So Buhari granted the concession?

          • Omooba Adekunle Orafidiya

            No, Buhari made the lopsided appointments (NNPC, NPA, PENCOM, PTDF etc.) are all manned by Northerners. And, FYI, the North is not contributing anything to the national exchequer.

          • Sir Demo

            But I think we are talking here about Onne and Intel. I also forget that Kachikwu is from Daura.

        • Gwazy

          during yaradua’a it was similar did anyone in the north benefit, nope:GEJ with a mix, to a certain degree, did anyone of us benefit, nope. its the same here with bubu. fact is,even if all the ministers are from one region, they are there for themselves alone so it really doesn’t matter. the poor man is poor regardless of location in naija. that’s all im saying bruh

          • Omooba Adekunle Orafidiya

            Still, I stand by my post.

    • Rominiyis

      I have always wonder over one point you mentioned which is that MDs of NPA. are always from the North. Ports and Customs are second highest revenue source, they sure knew where to dominste.

  • Yusufu Abdullahi

    “The authority fears the company could under-declare revenue collection before effecting payment to NPA, hence, the demand that all revenues first go into TSA for both parties to see before sharing.” Under declaration of revenue started from day one in 1997. INTELS has been short changing Nigerians through the out sourcing of NPA statutory responsibility. The agreement when it started was to last for five years in which INTELS might have trained NPA staff who are to take over the collection and the services of boats, nay, no t raining was ever concluded. But the massive corruption has denied conclusion of this agreement which late President YarAfua directed its cancellation when he fired the Minister on this issue in 2008. Another situation with this agreement is where the revenue is growing geometrically the commission is also following suit instead of reducing. From 5% in 1997 to 10% in 2003 to 15% in 2007 and today NPA is negotiating over 26% when revenue is also rising. Government should revoke the agreement including Port 4B contract costing $2.8 billions.

  • olujeda

    Your most successful business while you are collecting cheap money. 28% agency commission and another 30% totalling 58% and govt to take 42% !!! This is too much of Atiku, the public is short changed There is no business in that Who is sure the man is declaring all that is collected.. The highest commission, he should get is 10%. It is ridiculous the FG never get anything right. 58% commission ???

    • Ashibogu

      How much did government invest in the business? If government is so good at business why is our refineries not working? There was no good terminal at the local wing of MMA Lagos, Wale Babalakin spent his money to build one, thieves in Government wanted to steal it from him, the man went to Court and defeated them. This is the reason why most reputable foreign firms don’t want to do business in Nigeria. Intels built Onne facility from scratch. Government no put kobo inside.

      • FineBoy

        It’s the Govt official that use Govt to buy off govt assets and claim private sector is better. Why are govt owned Chinese firms doing well?

        Talking of MM2; it’s one of the frauds of the century. A 36 year BOT with monopoly isn’t good for anybody. If Wale is that good, let him take ove Akure Airport or Minna Airport.

        Don’t be deceived by Private Sector performance. It’s actually private sector manipulations.

        The Contract Intels has is to provide facilities and share revenue. Govt want transparency to know actual revenue received. It should be open to verification. You cant declare just any figure and ask me to believe it.

        Wise up Sir

  • Sir Louis

    This is a malicious hunt. Thank God however that the report acknowledged the fact that while developing Onne port, Intels co- founded by Atiku Abubakar has created thousands of jobs for Nigerians. So what has the man done wrong except that some people are trying to get even with the man or want to take over the business to loot! This girl Hadiza is not working for Nigeria but for Nasir el- Rufai who is disturbed by Atiku’s profile and national appeal. Most Nigerians can point to landmark investments made by Atiku from monies he has made and all these investments have continued to benefit Nigerians without discrimination. Some of Atiku’s detractors cannot point to anything they have on ground that employs 20 people on a permanent basis. Atiku is a Nigerian with a large heart. El- Rufai and his friend Hadiza cannot do him anything. Please, give us a new story!

  • Charles Ona

    I just hope there is no political undertone in NPA’s moves, TSA for all its good intentions really hurt the banking sector, but has also played an important role in the fight against corruption. Both parties must work out a solution that will not hurt Nigerians. Grandstanding especially by the FG has made our economy what it is today. Investment must be encouraged not the other way. Investors too must be honest in their dealings

    • Izedomi Ohirein

      The banks should invest in the real sector and earn their money, instead of prostituting their female staff to bank government funds.
      They demand 150% collateral for LC, while financing importation of expired rice, drugs & toothpicks into Nigeria.

  • True Messenegr

    These ports where existing before Intels came on board with proposal to improve the ports which they did. But for every 1 dollar Intels put in they make 10,000 dollars within a short time hence depleting government purse. Worst still they monopolized the port not giving room for other investors by using government Influence just like Dangote did in most of business ventures. Monopoly is not a healthy business for any nation, This is what makes it ridiculous. If you are a male gyny , you get paid for rendering your expertise service to by beloved wife , but that service should not involve sleeping or depriving her from visiting any other gyny it becomes an abuse.

  • True Messenegr

    These ports where existing before Intels came on board with proposal to improve the ports which they did. But for every 1 dollar Intels put in they make 10,000 dollars within a short time hence depleting government purse. Worst still they monopolized the port not giving room for other investors by using and buying off government officials just like Dangote did in most of his business ventures. Monopoly is not a healthy business for any nation, This is what makes it ridiculous. If you are a male gyny , you get paid for rendering your expertise service to my beloved wife , but that service should not involve you sleeping with her or depriving her from visiting any other gyny it becomes an abuse.

  • dami

    Domiciling FG funds as a contract requirement is illegal – so the banks and Intels have no point here
    The funds are not intels or the bank’s Tonye dictating where they are to be paid – TSA is the law of the land therefore you comply or lose the contract with the FG – simple

  • JOKE

    WHERE DID ATIKU GET ALL THAT MONEY FROM? FORMALLY A NORMAL PUBLIC SERVANT, NIGERIANS A WAITING UNTILL THE DAY THIS PEOPLE ARE FACING JUSTICE:WE NIGERIANS ARE EXTREMELY ANGRY

    • Cincinnatus

      You are not. You are just deceiving yourself that you are.