Atiku Abubakar, former vice-president, says President Muhammadu Buhari has shown strong inclination towards bringing down his sprawling businesses.
Atiku in a statement on Monday, said the preoccupation of the present administration with destroying his companies since 2015 has compelled him to sell off his shares in Integrated Logistics Services Limited (Intels).
The former presidential candidate co-founded the company which provides integrated logistics services for Nigeria’s maritime, oil and gas sectors.
The company had, in 2010, signed an agreement with the Nigerian Ports Authority (NPA), which enabled the firm to collect revenue on behalf of the federal government agency on some port operations.
However, there’s been hiccups in carrying out its responsibility as it constantly runs into trouble with the federal government over alleged illegalities.
In 2017, the federal government terminated the boats pilotage agreement it signed with the company, after Abubakar Malami, attorney-general of the federation (AGF), said it violated the constitution.
Abubakar and Gabriele Volpi, an Italian national, co-founded the company which was also accused of tax evasion in 2017 — the same year NPA accused it of failing to remit an outstanding $48 million.
In a statement issued on Monday by Paul Ibe, his spokesman, Abubakar said he’s been selling off his shares in the company for some years now.
He averred that the federal government had zeroed in the business, noting that business shouldn’t bear the brunt of resentment that stems from political differences.
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The statement seen by Ekohotblog read: “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 five years, because this Government has been preoccupied with destroying a legitimate business that was employing thousands of Nigerians because of politics.
“He has sold his shares in Intels and redirected his investment to other sectors of the economy for returns and creation of jobs.”
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