Former vice-president Atiku Abubakar has rid himself of business interests in Integrated Logistics Services Nigeria Limited (INTELS) — a company he co-founded more than three decades ago.
A statement by his media adviser, Paul Ibe, on Monday in Abuja, said Mr Abubakar, former vice president and presidential candidate of the Peoples Democratic Party in the 2019 general elections, took the decision because the Muhammadu Buhari government has destroyed the economy.
“Yes, he (Atiku) has sold his shares in Intels and redirected his investment to other sectors of the economy for returns and creation of jobs,” Mr. Ibe said.
Mr Ibe went on to note that Intels “assumed greater urgency in the last last five years, because this Government has been preoccupied with destroying a legitimate business that was employing thousands of Nigerians because of politics.”
Although Mr. Abubakar’s media aide did not specify the percentage of his equity stake at INTELS, Thisday pegged his shares’ worth at over $100 million.
Mr Abubakar has been having running battle with the Nigerian government over some remittances Intels ought to make into the government’s coffers.
The Buhari government had previously terminated contracts and agreements with INTELS, in what has been widely described as petty political machinations against the former vice president, who ran against President Muhammadu Buhari — his estranged ally in 2019 presidential election.
