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
We want to apologise to the federal government and NPA over this disagreement with Intels. I was not personally involved in the negotiations with NPA, but we apologise for what has happened.
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.
“We intend to comply with the directive of government and transfer all the revenue to the TSA because we are a law-abiding company.
What may have lead Volpi’s apology
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.
