Revealed: Why Intels Parted Ways With Atiku

Intels Part Ways With Atiku

Integrated logistics services firm, Intels Nigeria Limited, a company co-founded by Atiku Abubakar has disclosed the reason why it cut ties with the former Nigerian Vice President.

The company statement titled, ‘Intels severs ties with Atiku’, noted that it cut ties with the former VP and his family after he sold off his stake and exited the company in 2020.

BizWatchNigeria reported that Atiku cited political interference by the Buhari administration as the reason behind his decision.

The company’s spokesman, Tommaso Ruffinoni, revealed that Atiku sold his shares in the company between December 2018 and January 2019, for a sum of approximately $60 million.

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Part of the statement read, “In the period between April and May 2020, Mr Atiku Abubakar converted his remaining shares into a convertible bond that he subsequently monetized up to a residual sum of approximately $29m.

“When he requested to cash in the above-mentioned sum, our group contested to Mr Atiku Abubakar a debt, towards our group, of $24.1m.

“Without having received any answer regarding the matter, on 30th of November 2020 Mr Atiku Abubakar was informed about the set-off of such sum while we made available the remaining sum of $5.4m.

“With the completion of the above-mentioned transactions, the era of Mr Atiku Abubakar family’s involvement with the Group Orlean-Intels is over.

“On 1st December 2020 our group terminated also the working relationship with Mr Abubakar’s sons, Mr Adamu Atiku-Abubakar and Mr Aminu Atiku-Abubakar, and since that date, our group does not have any contacts, neither direct nor indirect, with members of Mr Atiku Abubakar’s family.”

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