Intels: Thousands to lose jobs, banks, others may close down 

Following the controversial sealing of Intels Nigeria Limited, a company co-owned by ex-vice president Atiku Abubakar, Nigerians in their thousands may soon lose their jobs while commercial banks and other companies that service the agreement between the federal government and the said company may be forced to close down.

Recall that some federal government agencies including Nigerian Port Authority (NPA) and the Federal Inland Revenue Service (FIRS) have been making efforts to clamp down on the company (Intels) over alleged nonpayment of tax.

But findings Tuesday by our correspondent revealed that if both NPA and FIRS eventually carry out the threats, Nigerians in their thousands, including commercial banks will be negatively affected.

A financial analyst who claimed to be in the know of the boat pilotage agreement signed in 2010 between Intels and the federal government revealed that the MoU generated thousands of jobs for Nigerians.

It was also revealed that Intels took loans of $1.4billion (half a trillion Naira) to facilitate the contract and a cancellation of the agreement will hamper its debt service obligations, therefore leading to job lost.

According to the source, “this will generate crisis in the capacity of commercial banks to provide loans for business investment.”

Blueprint also learnt that the popular Badagry Seaport Project which already employed over 10,000 Nigerians may be abandoned if the crack down on the Intels continue.

“Should a government that’s promoting public-private partnership and job creation also be the one killing private businesses and making Nigerians lose jobs?;

“The cancellation will lead to loss of revenue to government as vessels will patronize cheaper service providers and make less returns to government among others.

But the Nigerian Ports Authority (NPA) has however, given Intels Nigeria Limited three months to quit.

NPA gave this marching order barely a week after terminating boats pilotage monitoring and supervision agreement with the organisation.

NPA’s Managing Director, Hadiza Bala Usman, while defending its action said that the authority would proceed on an arrangement to engage another firm.

She said: “The legal advice contained in a September 27, 2017 letter addressed to the Managing Director of the Authority, Hadiza Bala Usman, by the Attorney General of the Federation (AGF) and Minister of Justice, Mallam Abubakar Malami (SAN) expressly stated as follows: ‘For the avoidance of doubt, the agreement for the monitoring and supervision of pilotage districts in the Exclusive Economic Zone of Nigeria on terms inter alia that permits Intels to receive revenue generated in each pilotage district from service boat operations in consideration for 28% of total revenue as commission to Intels is void, being a contract ex facie illegal as formed for permitting Intels to receive federal government revenue contrary to the express provisions of Sections 80(1) and 162(1) and (10) of the 1999 Constitution of the Federal Republic of Nigeria (as amended), which mandates that such revenue must be paid into the Federation Account/Consolidated Revenue Fund.”

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