Oil and gas logistics firm, Intels Nigeria Limited says it has severed ties with former Vice President Atiku Abubakar, who was one of its major shareholders.
The company disclosed this in a Monday statement signed by its spokesman Tommaso Ruffinoni, titled, ‘Intels severs ties with Atiku’.
Intels said it severed ties with Atiku and his family after the former Vice President through his trust named Guernsey Trust International, sold shares of Orlean-Invest Group, Intels parent company, between December 2018 and January 2019, for a sum of approximately 60 million dollars.
Ruffinoni said in the statement that Atiku had received his balance of $5.4m.
The statement further read, “In the period between April and May 2020, Abubakar converted his remaining shares into a convertible bond that he subsequently monetised up to a residual sum of approximately 29 million dollars.
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“When he requested to cash in the above-mentioned sum, our Group contested to Abubakar a debt, towards our Group, of 24.1million dollars.
“Without having received any answer regarding the matter, on Nov. 30, 2020, Abubakar was informed about the set-off of such sum while we made available the remaining sum of 5.4 million dollars.
“With the completion of the above-mentioned transactions, the era of Abubakar family’s involvement with the Group Orlean-Intels is over.”
Ruffinoni noted that on Dec. 1, 2020, the Group terminated also its working relationship with Abubakar’s sons, Mr Adamu Atiku Abubakar and Mr Aminu Atiku Abubakar.
“Since that date our Group does not have any contacts, neither direct nor indirect, with members of Abubakar’s family.”