I Have Sold My Shares In Intels Long Ago – Atiku

Former vice president, Atiku Abubakar, has described insinuations that he is a beneficiary of the reinstated contract between Integrated Logistics Services Nigeria Limited (Intels) and the federal government as mischievous.

Atiku, on his X handle, said he had sold his shares in the company he co-founded, adding that his divestment from the company has not been reversed.

The former PDP presidential candidate’s reaction came against the backdrop of a memo by the Nigerian Ports Authority reinstating Intels as the authority’s service boats operations monitoring provider in the pilotage districts.

The memo, dated November 30, 2023, said the reinstatement followed a presidential directive dated August 18, 2023. It also added that the reinstatement was in consent to a court judgement in Lagos State dated September 21 2023. Intels is a logistics company.

Reacting to insinuations that he stands to gain from the reinstatement of the company, Atiku said, “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.

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“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.

“My divestment from the company that I co-founded has not been reversed. 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. -AA,” he said.