Atiku Abubakar has reportedly sold his shares in Integrated Logistic Services (INTELS) Nigeria Limited

Nigeria’s largest logistic comany, Integrated Logistic Services (INTELS) Nigeria Limited, on Monday said it had severed ties with former Vice President Atiku Abubakar, and his family who was one of its major shareholders.

Spokesman of the company, Mr Tommaso Ruffinoni, said in a statement that Atiku exited the company with his family as of December last year.

This Day report that Atiku through his trust named Guernsey Trust International sold shares of Orlean-Invest Group, Intels parent company.

- Advertisement -

It was learned that the payment was paid in three installments $60 million, $29 million $24.1 million when total it amounts to $100 million when converted to naira the money is close to N40billion.

Mr. Ruffinoni also said that Atiku’s two children working with the company, Mr. Adamu Atiku Abubakar and Mr. Aminu Atiku Abubakar, have ended their working relationship with the organization.

The former vice president had in 2015, described Intel’s as his most successful business.

Before venturing into politics, Atiku was a successful businessman, but his position as Nigeria’s number two man between 1999 – 2007, further boosted his profile due to what many say is a result of political patronage.

- Advertisement -

The former vice president’s investment portfolio spans across various sectors which include food and beverages, oil and gas, agriculture, education, media, logistics, hospitality, property and haulage.

RELATED STORIES

Dr. Ngozi Okonjo-Iweala appointed as the new Director-General of the World Trade Organization (WTO)

Nigeria's Ngozi Okonjo-Iweala was appointed Monday as the first female and first African head of the World Trade Organization, says a stronger WTO would...

US leaders write Joe Biden to support Okonjo-Iweala candidacy as the WTO head

Some US government officials and leaders in academia, civil society, and private sector, have written President Joe Biden, ask him to support the candidacy...

Alibaba founder, Jack Ma, Reappearance in Video, says Will Meet Again After Pandemic is Over|watch

Alibaba and Ant co-founder, Jack Ma, who had been reported missing for the past few months, has resurfaced with a video in which he...

Apple and Hyundai are reportedly planning to team up to build a ‘beta’ car by 2022

Apple is planning to team up with Hyundai to build its 'beta' version of electric vehicle as early as 2022, according to Reuters. Multiple report has...

Elon Musk beat Jeff Bezos to become the richest person in the world

Elon Musk now the richest person in the world, with a net worth of more than $185 billion. According to CNBC report, the South Africa-born...