Former Vice President Atiku Abubakar says he has sold off his shares in Integrated Logistics Services Limited, popularly known as Intels.
Atiku said on Monday that he was forced to divest his shares in the company because the Buhari administration had been “preoccupied with destroying” it since 2015.
Intels, which provides integrated logistics services for Nigeria’s maritime oil and gas sectors, was co-founded by Atiku.
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.
The firm has, however, had brushes with the authorities over alleged involvement in some illegal dealings.
In 2017, the Federal Government terminated the boats pilotage agreement it signed with the company, after the Attorney-General of the Federation, Abubakar Malami, said its operations violated the constitution.
The former vice president and an Italian national, Gabriele Volpi, co-founded Intels, which had also been accused of not paying taxes in 2017 — the same year NPA accused it of failing to remit an outstanding $48 million.
Atiku, in a statement on Monday by his spokesman, Paul Ibe, accused the Federal Government of targeting his business, saying, “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.”
