Atiku clarifies Intels shares disposal brouhaha

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Former Vice President Atiku Abubakar has disclosed how he disposed off his shares in maritime logistics firm, Integrated Logistic Services Nigeria Limited (Intels) in 2021.

The 2023 presidential candidate of Peoples Democratic Party (PDP) made the clarification in an X post on Sunday, while denying any ongoing relationship with the company.

Atiku’s clarification came amid claims that he is a beneficiary of the decision to rescind the contract cancellation between Intels and the Federal Government.

“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. 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,” Atiku said.

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John is a University of Lagos-trained journalist who has read almost every novel written by Chinua Achebe, Jeffrey Archer and Dan Brown. He's an expert Scrabble and draughts player who is also excellent at swimming.
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