Is It Tinubu? Atiku Reveals Who He Sold His $100m Intels Shares to
- Atiku Abubakar has said he has no relationship with Integrated Logistic Services Nigeria Limited (Intels)
- Legit.ng reports that this was in reaction to reports that he is a beneficiary of the decision to rescind the contract cancellation between Intels and the federal government
- Atiku said he sold his shares in Intels, which he co-founded, in December 2020 to the parent company, Orlean Investment Group, and made his exit from the company public in January 2021
Legit.ng journalist Ridwan Adeola Yusuf has over 6-year-experience covering politics in Nigeria
FCT, Abuja - Atiku Abubakar, the presidential candidate of the Peoples Democratic Party (PDP) in the 2023 election, has said he already ‘divested’ from Integrated Logistic Services Nigeria Limited (Intels), thus could not have been a beneficiary of the decision to rescind the cancellation of the contract between Intels and the FG.
Legit.ng recalls that some reports claimed that the Nigerian government restored the boat service contract to Intels after three years. Some posts, especially on WhatsApp, still linked Intels to Atiku.
Source: Facebook
Atiku clears air on Intels sale
Also, some posters claim that the former vice president sold his Intels shares for millions of dollars to President Bola Tinubu.
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However, in a social media post on Sunday morning, December 3, Atiku stressed that he sold Intels to Orlean Investment Group.
Atiku wrote via his verified X handle:
“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.
“The phased sale of those shares that commenced in 2018 peaked in December 2020.
“My divestment from the company that I co-founded has not been reversed.
“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 a similar vein, an X user, @woye1 corroborated Atiku's explanation.
Read the tweet by @woye1 below:
Atiku sells Intel shares for $100million
Earlier, Legit.ng reported that Atiku sold his interests in Intels through a series of transactions.
Abubakar exited the company with his family.
FG resumes contract with Intels
Legit.ng also reported that the service boat operation contract between the Nigerian Ports Authority (NPA) and Intels was extended, with the NPA instructing the company to recommence its services promptly.
The directive is outlined in a November 30, 2023, circular issued by the NPA, titled 'Reinstatement of Intels Nigeria Limited as the monitoring provider for service boat operations in the pilotage district.'
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Source: Legit.ng
