Question is, why now? After all the threats, my thinking was a series of court orders and then the FGN will reverse its stand. Is Atiku Abubakar in support? Anyway, read the below:
Co-founder of Intels Ltd, Gabriel Volpi has tendered an apology on behalf of the company over its disagreement with the Nigerian Ports Authority. The NPA had this week stated its intentions to terminate a pilotage agreement it had with the company following advice from the Attorney General of the Federation (AGF) Abubakar Malami.
Malami in a letter to the NPA Managing Director Hadiza Bala Usman, stated that the agreement breached sections of the consittuiton which specified that all revenues earned be paid into the federation account, and the Treasury Single Account (TSA). Intels, in its reply accused the NPA of being indebted to it, which had left the firm financially constrained.
Volpi also stated that the company was willing to comply with the TSA policy.
Volpi, may have made the move in order to douse the tension the disagreement had created, and leave the door open for future engagement with the government on other projects. Volpi also indicated that the firm was investing in a port project located in Badagry. The House of Representatives has also waded into the matter, asking the NPA to suspend termination of the agreement.
Volpi is also embroiled in a tussle Oando Plc, accusing its management of financial recklessness and denying him inadequate representation on the board. The billionaire may have decided to pipe down to prevent negative press from affecting the fortunes of the company.
Intels Limited is owned by Volpi and former Vice-President Atiku Abubakar.
See various reactions on Twitter below:
So Volpi, the MD of Intels has accepted that his company is wrong, he is also apologetic, meanwhile where are those unsolicited town criers?
— The Godfather (@Ayourb) October 20, 2017
Btw Jan 2010 and Sept 2016, INTELS collected $1.295 billion, remitted only $343.35 million to NPA and made $353.066 million in commission.
— DaddySam (@zebbook) October 20, 2017
I heard INTELS co-founder has apologized to NPA. An apology though cannot undo an illegality. Compliance with TSA is the only solution here.
— DaddySam (@zebbook) October 20, 2017
They said INTELS is best at what they do. Lol. I'm better than INTELS.
I don't even know what they do, but for 28%, I'm the best in Africa. https://t.co/3CeZwjEAW1— David_Atta (@revolution_ng) October 20, 2017
Now that Intels has apologised to FG, admitted wrong doing and now ready to comply to the directive it earlier refused that led to the termination of their service with NPA, what will those who politicised the issue and lied over what didn't happen say?
— HisGrace Stober Ash (@HisGraceStoberA) October 20, 2017
Please watch this space for further updates.
