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LequteMan
Guest
According to a report from Premium Times, the Nigerian Ports Authority and Integrated Logistics Services Nigeria Limited (Intels), Nigeria’s leading logistic firm for the oil and gas industry, are locked in a fierce business dispute, with the NPA threatening to terminate Intels’ port revenue collection contract.
Those familiar with the matter said the dispute, which has seen the two parties hold several tension-soaked meetings and exchange aggressive correspondences, arose from Intels’ alleged non-compliance with the Federal Government’s Treasury Single Account policy.
The two parties also appear to disagree over the funding of a key capital project the logistics company is handling for the NPA.
Intels was co-founded by former Vice-president and chieftain of the All Progressives Congress, Atiku Abubakar; and an Italian businessman, Gabriel Volpi, in the 1980s.
Read full report
Those familiar with the matter said the dispute, which has seen the two parties hold several tension-soaked meetings and exchange aggressive correspondences, arose from Intels’ alleged non-compliance with the Federal Government’s Treasury Single Account policy.
The two parties also appear to disagree over the funding of a key capital project the logistics company is handling for the NPA.
Intels was co-founded by former Vice-president and chieftain of the All Progressives Congress, Atiku Abubakar; and an Italian businessman, Gabriel Volpi, in the 1980s.
Read full report
