ADVERTISEMENT
The Moment Nigeria
  • Home
  • News
  • Business
  • Entertainment
  • Interviews
  • Life and Styles
  • Sport
No Result
View All Result
  • Home
  • News
  • Business
  • Entertainment
  • Interviews
  • Life and Styles
  • Sport
No Result
View All Result
The Moment Nigeria
No Result
View All Result
  • Home
  • News
  • Business
  • Entertainment
  • Interviews
  • Life and Styles
  • Sport

Buhari not hindering business, Intels denies Atiku’s claim

by Usman Kadri
January 5, 2021
Reading Time: 2 mins read

Atiku

Share on FacebookShare on TwitterShare on WhatsappShare on LinkedIn

Integrated Logistics Services Limited (Intels) has said its business is not affected by political influences from the President Muhammadu Buhari administration as claimed by former vice president, Alhaji Atiku Abubakar.

Atiku, co-founder of the firm had on Monday, announced that he had sold off his shares, alleging that he was forced to divest his shares in the company because the Buhari administration has been “preoccupied with destroying” it since 2015.

But in a statement by Tommaso Ruffinoni, its spokesman, Intels said the firm and Orlean Invest Holding, its parent company, have always operated according to market logic.

RELATED STORIES

Customs CG, Adeniyi Advocates AI Integration in governance, tasks Journalists on accountability 

Tinubu extends Customs CG Adeniyi’s tenure

July 31, 2025
MOWCA will mobilise efforts for Nigeria’s into IMO Category C —Adalikwu

Adalikwu secures MOWCA Ministers support for Nigeria’s election into IMO Council

July 31, 2025

The company said the “ongoing contradictions are part of a natural commercial divergence, which will hopefully be resolved”.

The company said Atiku’s decision to sell off his shares was based on economic reasons and irreconcilable differences with its new governance structure.

“Intels Nigeria Limited and with it its parent company Orlean Invest Holding in relation to some statements that appeared in the press yesterday and today, categorically denies that its business has at some time been hindered by political influences from the current government,” it said.

“The company has always operated according to market logic, thanks to its history and commitment to the development of the Nigerian economy in the oil and gas logistics sector. The ongoing contradictions are part of a natural commercial divergence, which will hopefully be resolved, as in the past, by a new approach, in the interest of all the parties, also according to the social role that Intels plays in the country.

“The severance from the world of Atiku Abubakar was an economic decision, in the exclusive interest of the company, and to irreconcilable strategic differences with the new governance structure of the Intels – Orlean Invest Group.”

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.

The company was also accused of not paying taxes in 2017 — the same year NPA accused it of failing to remit an outstanding $48 million.

Next Post
JUST IN: FCMB MD, Adam Nuru, proceeds on compulsory leave as bank probes paternity allegation

JUST IN: FCMB MD, Adam Nuru, proceeds on compulsory leave as bank probes paternity allegation

More Articles...

Customs CG, Adeniyi Advocates AI Integration in governance, tasks Journalists on accountability 

Tinubu extends Customs CG Adeniyi’s tenure

July 31, 2025
ICAN Fidelity Bank chapter inaugurates new chairman

ICAN Fidelity Bank chapter inaugurates new chairman

July 31, 2025
Nigerian Breweries empowers 360 retailers nationwide with business training

Q2 2025: Nigerian Breweries plc records N733.19 billion revenue

July 31, 2025
MOWCA will mobilise efforts for Nigeria’s into IMO Category C —Adalikwu

Adalikwu secures MOWCA Ministers support for Nigeria’s election into IMO Council

July 31, 2025
Peter Obi’s supporters are demarketing him

ADC exempts Peter Obi, El-Rufai from defecting from LP, SDP

July 31, 2025
Moruf Oseni’s Wema Bank embroiled in litigation mess

Wema Bank releases unaudited results for H1 2025, profit before tax climbs 231% to N101.2billion

July 31, 2025

STANBIC IBTC ADVERT

About Us

Themomentng.com is an online community of reporters and social advocates dedicated to bringing you features, news reports by Africans, but from a global perspective.

Contact Us

+447771081433
+2348051966180(WhatsApp/SMS Only)
Email: themomentng@gmail.com

Categories

  • Business
  • Education
  • Entertainment
  • Events
  • Featured
  • Food
  • Foreign
  • Health
  • Interviews
  • Life and Styles
  • Metro
  • Motoring
  • News
  • Opinion
  • Politics
  • Religion
  • Society
  • Sport
  • Technology
  • Top Story

Follow Us

Facebook Twitter Instagram

Copyright © Themomentng.com. All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Business
  • Entertainment
  • Interviews
  • Life and Styles
  • Sport