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NPA terminates Intels contract over failure to remit $145.85 million.

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The Nigerian Ports Authority has terminated its boat Pilotage monitoring and supervision contract with Intels Nigeria Limited.

Intels, owned by former Vice President and presidential candidate of the PDP in the February election, Atiku Abubakar, is a Frontline integrated logistics and facilities service provider in the maritime and Oil and Gas logistics sector.

The management of the NPA and Intels have for the past two years been at loggerheads over the non-compliance of Intels with the presidential directive and circular on Treasury Single Accounts (TSA) and Article 4.1 of the executed Supplemental Agreement by refusing to remit the sum of $145,803,309,33 being Service boats revenue generated from November, 1 2017 to October 31, 2018.

The decision to terminate the contract, according to an inside source should have come much earlier but, for the political hues that would have attended it because of the personality of the principal of Intels.