Atiku Abubakar Denies Any Link with Intels After Contract Reinstatement

The former Vice President and the 2023 presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, has dismissed any connection with Integrated Logistic Services Nigeria Limited (Intels), an oil and gas logistics company that he co-founded.

Atiku stated this in an X post on Sunday, refuting the allegation that he is a beneficiary of the decision to restore the contract between Intels and the Federal Government. The contract, which involved the boat pilotage monitoring business, was cancelled by the government in 2020.

Atiku explained that he had sold his shares in Intels to the parent company, Orlean Investment Group, in December 2020, and announced his exit from the company in January 2021. He said he had no stake in the company anymore, and therefore, could not benefit from the contract reinstatement.

He wrote: “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.”