Atiku Blames Buhari for His Business Woes |The Source

By Akinwale Kasali

Former Vice President Atiku Abubakar has accused President Muhammadu Buhari of trying to destroy his business empire barely 24 hours after Intels, an oil servicing firm severed ties with him. The Port Harcourt based firm announced on Monday that the politician has divested his $100 million in the company.

Criticising the federal government for attacking his business interests in the country, Atiku said politics should be seperated from business.

A statement released on Monday by Atiku’s spokesman, Paul Ibe, said  the feral government has targeted his business since Buhari became president in 2015.

Ibe said  “There should be a marked difference between Politics and Business”. “Co-founder of  Integrated Logistics Services Nigeria Limited (Intels), Atiku Abubakar, has been selling his shares in Intels over the years.

“It assumed greater urgency in the last five years, because this Government has been preoccupied with destroying a legitimate business that was employing thousands of Nigerians because of politics.

“He has sold his shares in Intels and redirected his investment to other sectors of the economy for returns and creation of jobs”.

Intels spokesman, Tommaso Ruffinoni, said on Monday that, Atiku through his trust named Guernsey Trust International, has sold shares of Orlean-Invest Group, Intels parent company, for a sum of approximately 60 million dollars.

According to the firm “In the period between April and May 2020, Abubakar converted his remaining shares into a convertible bond that he subsequently monetised up to a residual sum of approximately 29 million dollars.

“When he requested to cash in the above mentioned sum, our Group contested to Abubakar a debt, towards our Group, of 24.1million dollars.

“Without having received any answer regarding the matter, on Nov. 30, 2020 Abubakar was informed about the set off of such sum while we made available the remaining sum of 5.4 million dollars.

“With the completion of the above mentioned transactions, the era of Abubakar family’s involvement with the Group Orlean-Intels is over,” he said.

He noted that on Dec. 1, 2020 the Group terminated also its working relationship with Abubakar’s sons, Mr Adamu Atiku Abubakar and Mr Aminu Atiku Abubakar.

“Since that date our Group does not have any contacts, neither direct nor indirect, with members of Abubakar’s family,” Ruffinoni said.