Former Vice President and 2019 Presidential Candidate of the Peoples Democratic Party, PDP, Atiku Abubakar, has sold his shares in Integrated Logistic Services, INTELS, Nigeria Limited, for over $100 million, .
INTELS’ Spokesman, Tommaso Ruffinoni, who made this known in a statement, revealed that Atiku is no longer a Shareholder of Nigeria’s biggest logistics company.
He disclosed that Atiku sold his shares to Orleal Investment Group, the parent company of INTELS, for over $100 million, in the deal that spanned for two years.
According to the INTELS Spokesman, Orleal Investment Group paid Atiku $60 million, $29 million, and $24.1 million, in three installments.
Ruffinoni disclosed that Atiku sold his shares in a series of transactions that began in December 2018, and concluded last year.
He maintained that Atiku had since left the company with his two sons, Adamu Atiku Abubakar and Aminu Atiku Abubakar, in December 2020.
Page 36 could recall, that INTEL has been at loggerheads with the President Muhammadu Buhari Federal Government, resulting in the cancellation of its 17-year-old contract with the Nigerian Ports Authority, NPA, for pilotage monitoring.
The NPA had accused INTELS of owing the Federal Government revenue of $307.675 million (N115.775 billion), as at July 31, 2020.
More news later…