ADVERTISEMENT
  • The Membership Club
  • PT Hausa
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
Saturday, February 27, 2021
Premium Times Nigeria
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
Premium Times Nigeria
BUA Group Ad BUA Group Ad BUA Group Ad
ADVERTISEMENT
Atiku Abubakar

Atiku Abubakar

How Atiku sold his interests in Intels – Official

Mr Abubakar sold his shares in Intels to Orleal Investment Group, the parent company of Intels, for various amounts totalling over $100 million.

byOladeinde Olawoyin
January 5, 2021
2 min read
ADVERTISEMENT

A former Nigerian Vice President, Atiku Abubakar, sold his interests in Integrated Logistic Services (INTELS) Nigeria Limited through a series of transactions, an official has said.

Intels spokesperson, Tommaso Ruffinoni, made this known in a statement on Monday.

He said Mr Abubakar exited the company with his family as of December 2020, adding that the deals began in December 2018 and were concluded last year.

PREMIUM TIMES earlier reported how Mr Abubakar divested from the country’s largest logistics company that provides comprehensive integrated services for the nation’s oil and gas industry.

A statement by his media adviser, Paul Ibe, on Monday said Mr Abubakar, the presidential candidate of the Peoples Democratic Party in the 2019 general elections, took the decision because the Muhammadu Buhari government has destroyed the economy.

”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, ” the statement read.

Meanwhile, ThisDay reported that the former vice president sold his shares in Intels to Orleal Investment Group, the parent company of Intels, for various amounts totalling over $100 million.

READ ALSO: Atiku sells off shares in Intels, blames Buhari for decision

Mr Ruffinoni noted that with Mr Abubakar’s divestment of his interest in the company, two of his children working in the organisation, Adamu Atiku Abubakar and Aminu Atiku Abubakar, have ended their working relationship with the organisation.

Intels has in the last few years had a running battle with the Nigerian government.

RelatedNews

Women in Agriculture: My experience shows youth need not waste time looking for jobs – Farmer

Dubawa graduates 22 fact-checking fellows from three countries

SSS arrests Ganduje’s aide after asking Buhari to resign over insecurity

Finally, kidnapped Kagara students, staff freed

The disagreement resulted in the cancellation of the company’s 17-year-old pilotage monitoring contract with the Nigerian Ports Authority (NPA).

In October 2017, the government directed the NPA to terminate the boat pilotage monitoring and supervision agreement with Intels. The NPA also accused Intels of refusing to remit boat pilotage revenue in the firm’s custody put at about $207.646 million (N78.905 billion) at the time, among other revenues.

Intels in its reaction denied the allegations, adding that it was rather being owed by the NPA.

Dangote adbanner 728x90_2 (1)

  • WhatsApp
  • Tweet
  • Email
  • Print
  • Telegram
  • More
  • Share on Tumblr
  • Pocket

Support PREMIUM TIMES' journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate


TEXT AD: To advertise here . Call Willie +2347088095401...


JOIN THE CONVERSATION

  • Disqus (2)
premiumtimes



PT Mag Campaign AD

Previous Post

Man’s lover escapes with wife’s newborn, ATM card in Ondo

Next Post

Thugs kill man in Edo community over unpaid loan

Oladeinde Olawoyin

Oladeinde Olawoyin

Oladeinde Olawoyin reports Business & Economy, Development and Lagos Metro at PREMIUM TIMES. A First Class graduate of Mass Communication from the University of Ilorin, Ilorin, he was nominated in the journalism category of The Future Awards Africa in 2017. Aside maintaining a column titled ‘SATURDAY SATIRE’, he also writes art and culture pieces on weekends. Twitter: @Ola_deinde

More News

COVID-19 vaccine vials [PHOTO CREDIT: BioWorld]

Which is best COVID-19 vaccine?

February 27, 2021
Former President Goodluck Jonathan

Jonathan bags African peace award

February 27, 2021
Asiwaju Bola Tinubu

2023: ‘Young professionals’ donate N10m for Tinubu presidency

February 26, 2021
A back view of Samuel Akinbodewa, the 77-year-old father of the detained woman and his two grandchildren.

Lagos govt moves to free woman jailed six years without trial

February 26, 2021
Ekiti State University

Court orders Ekiti State University to reinstate 85 sacked workers

February 25, 2021
National primary health care development agency, NPHCDA.

COVID-19: NPHCDA to train 100,000 health workers ahead of vaccine arrival

February 25, 2021
Next Post
The late Enoragbon Imuentinyan

Thugs kill man in Edo community over unpaid loan

Nobel laureate Wole Soyinka

Talking about Buhari's administration not good for my sanity– Soyinka

Discussion about this post

Search

#EndSARS: Latest Updates




Polaris Bank


JAIZ Ad


NITDA Ad





Glo Ad

Subscribe to News via Email

Enter your email address and receive notifications of news by email.

Join 1,625,869 other subscribers.

Advertisement






netherland biz school Advert

Zenith Advert
ADVERTISEMENT

Our Digital Network

  • PT Hausa
  • Election Centre
  • Human Trafficking Investigation
  • Centre for Investigative Journalism
  • National Conference
  • Press Attack Tracker
  • PT Academy
  • Dubawa
  • LeaksNG
  • Campus Reporter

Resources

  • Oil & Gas Facts
  • List of Universities in Nigeria
  • LIST: Federal Unity Colleges in Nigeria
  • NYSC Orientation Camps in Nigeria
  • Nigeria’s Federal/States’ Budgets since 2005
  • Malabu Scandal Thread
  • World Cup 2018
  • Panama Papers Game
  • Our Digital Network
  • About Us
  • Resources
  • Projects
  • Data & Infographics
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

No Result
View All Result
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Health
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Panama Papers
    • Paradise Papers
    • Parliament Watch
    • AGAHRIN
  • Opinion
  • PT Hausa
  • The Membership Club
  • Dubawa
    • Dubawa NG
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
  • Digital Store
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

Our website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.