The Managing Director of the Nigerian Ports Authority (NPA), Hadiza Bala Usman, has revealed that the services of Intels, a company owned by Atiku Abubakar, was terminated because of the company's inability to remit over $140 million to the federal government's coffers.
The NPA DG told The Nation that the $140 million is the accumulated revenue Intels generated for a period of time.
Usman claimed that Atiku's company was collecting revenue for port operations but was not remitting to the federal government.
She disclosed that after directing all revenues to be paid into the Treasury Single Account (TSA), Intels reneged on the agreement it had with the NPA.
The NPA DG stated that the corporation had no choice than to cancel the contract outright.
She said: "Following the agreement, Intels has been very difficult in making payments to us. They owe us over $140million that they have not remitted. So, we felt such non-compliance and such level of impunity should not be accepted, hence we issued a notice of termination to them.
"We are going to advertise for a replacement company that would offer such services at a cheaper cost because Intels is charging the Nigerian government 28 per cent for revenue collection and typically such commissions are limited to 10-15 per cent.
"You hardly see where an agency is charging 28 per cent. So, we have issued a notice of termination and we are also going to court to ensure that those monies not credited by Intels are paid back".
Source: Naija News