Ultimatum given to Atiku, Tinubu’s Intels two weeks to pay $48m

The face-off between the Nigerian Ports Authority (NPA) and Intels Nigeria Limited (Intels), a company co-owned by former vice president, Atiku Abubakar is not over yet.

This is as the NPA has handed a two-week ultimatum to the company to remit an outstanding $48 million that ought to have been paid into the agency’s Treasury Single Account (TSA) in 2017.

Intels, a logistics and facilities services provider in the maritime and oil and gas sectors, was co-founded by Gabriele Volpi, an Italian national, and former vice-president, Atiku Abubakar.

Atiku has since sold down most of his interest in the company to the former Lagos State governor and APC national leader Bola Tinubu.

Speaking yesterday during an interview with CNBC Africa, Managing Director of NPA, Ms. Hadiza Bala Usman, said Intels’ notice of termination would stand if the company fails to settle its debt.

“I am giving Intels a possible two-week window to provide payment, two weeks from now, following which the notice of termination will not be withdrawn,” she said. culled from dailypost

© 2018, https:. All rights reserved., Attribution and link to nigeriamaritime360.com is required if you wish to use any of the articles on this site