Atiku No Longer A Shareholder – Intel

By Oluchi Ihediuche

Former Vice President Atiku Abubakar has Existed the Integrated Logistic Services (INTELS) Nigeria Limited, after it sold its shares to Orleal Investment Group.

INTELS Nigeria Limited, is Nigeria’s largest logistics company that provides comprehensive integrated services for the nation’s oil and gas industry.

Intels Public Relations Officer Mr. Tommaso Ruffinoni, said Atiku exited the company with his family December 2020 after series of transactions executed by his family Guernsey Trust, in deals that began in December 2018 and concluded last year.

Atiku sold his shares in Intels to Orleal Investment Group, the parents company of Intels, for amounts totalling over $100 million in the deal that spanned two years.

It was learnt that Atiku was paid $60 million, $29 million $24.1 million in three instalments.

According to Ruffinoni, with Atiku’s divestment of his interest in the company, two of his children working in the organisation, Mr. Adamu Atiku Abubakar and Mr. Aminu Atiku Abubakar, have ended their working relationship with the organisation

The former vice president had earlier in 2015, described his Intels investment as his most successful business.