CAC Hides INTELS Ownership, Frustrates Request For Disclosure

The management of the Corporate Affairs Commission (CAC) has failed to disclose the identities of the board members of Orlean Investment Africa Limited, the real owners of INTELS Nigeria.

LEADERSHIP recalls that former Vice President Atiku Abubakar had said he sold his shares in INTELS in 2019, but when LEADERSHIP wrote to the CAC under the Freedom of Information Act on December 5 and December 18, 2023, respectively, and after much back and forth, the commission simply frustrated efforts of our reporter and ignored LEADERSHIP inquiry completely.

For weeks, LEADERSHIP was given assurances that our FOI request was being processed and that we would be contacted. At first, we were told that the details of Orlean Investment Africa Limited had not been updated electronically on the CAC website.

The officer in charge asked for time to call for the company’s file, but at the end of the day, it was all a ploy to frustrate our efforts.

The failure of the CAC to disclose the information requested by LEADERSHIP is a clear violation of the Freedom of Information Act which mandates public institutions to provide access to information requested by citizens.

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The CAC’s action is even more concerning given the importance of transparency and accountability in the public and private sectors.

LEADERSHIP calls on the CAC to immediately disclose the identities of the board members of Orlean Investment Africa Limited, the real owners of INTELS Nigeria.

We also urge the commission to respect the Freedom of Information Act and provide access to information requested by citizens and the media.

The failure of the CAC to disclose this information raises questions about the transparency and accountability of corporate entities in Nigeria. It is essential that we know who owns and controls the companies that operate in our country, especially those with significant economic and political influence.

LEADERSHIP will continue to pursue this matter until the identities of the board members of Orlean Investment Africa Limited, the real owners of INTELS Nigeria, are disclosed. We will not be deterred in our efforts to promote transparency and accountability in Nigeria.