Former Vice President Atiku Abubakar has confirmed selling his stake in oil and gas logistics firm, Intels Nigeria Limited.
He gave the confirmation in a Monday statement titled, “Atiku redirects his investment in Intels” and signed by his Media Aide, Paul Ibe.
“Co-founder of Integrated Logistics Services Nigeria Limited (Intels), Atiku Abubakar, has been selling his shares in Intels over the years.
“It assumed greater urgency in the last last five years, because this Government has been preoccupied with destroying a legitimate business that was employing thousands of Nigerians because of politics.
“There should be a marked difference between Politics and Business.
“Yes, he has sold his shares in Intels and redirected his investment to other sectors of the economy for returns and creation of jobs,” the statement read.
Recall that the company had disclosed in a statement by its spokesman, Tommaso Ruffinoni that it had severed ties with Atiku and his family.
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.”
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