My Intels Stake Sold, No Contract Restoration Gain – Atiku

Atiku Abubakar, the former Vice-President, clarifies that he is not a beneficiary of the recent federal government decision to reinstate the boat pilotage monitoring business, previously managed by Intels Nigeria Limited.

Africa Today News, New York learned that the Federal Government, through a memo dated November 30, 2023, conveyed to shipping companies the extension of Intels’ contract to oversee operations in the Lagos pilotage district.

Abubakar, in a statement on Sunday, stated that he sold his shares in Intels to Orlean Investment Group in January 2021 and has had no role in the company’s operations thereafter.

‘In January 2021, I made public the sale of my shares in Integrated Logistic Services Nigeria Limited (Intels) to Orlean Investment Group, the parent company of Intels,’ he said.

‘The phased sale of those shares that commenced in 2018 peaked in December 2020. Intels also made public my exit from the oil and gas logistics company, meaning that a different entity now owns those shares I sold.’

Abubakar claims the allegations of his involvement in the Intels contract are false and mischievous.

Read also: Atiku Abubakar Is Working Hard To Fulanise Nigeria – Fayose

‘My divestment from the company that I co-founded has not been reversed,’ he said.

‘Consequently, I cannot, by any stretch of the imagination, be a beneficiary of the reinstatement of the boat pilotage monitoring business that was taken away from Intels by the Federal Government.’

‘Therefore, the insinuation that I am a beneficiary of the decision to rescind the cancellation of the contract between Intels and the Federal Government is untrue and should be seen for what it is: mischief.’

In January 2021, Rotimi Amaechi, then minister of transportation, got presidential approval for the restoration of all contracts between NPA and Intels and the withdrawal of all matters in court to settle the disputes administratively.

President Muhammadu Buhari reconsidered his decision following guidance from the Attorney-General of the Federation and the Bureau of Public Procurement (BPP).

Advisers clarified to the President that the Intels contract was not canceled as alleged; rather, it had expired, and renewal was not automatic.

Subsequent to this, President Buhari mandated the conclusion of the procurement process.

Amaechi’s successor, Mu’azu Jaji Sambo, initially tried to hinder the process by unilaterally reinstating the contract with Intels. Subsequently, he turned his attention to July Seventh Ventures Ltd without following due process.

The Ministry of Maritime and Blue Economy is on track to present the approvals to the Federal Executive Council soon for ratification.

Africa Today News, New York

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