The Nigerian Ports Authority (NPA) has given Intels a two week deadline to pay the sum of $48 million into its Treasury Single Account. Failure to do this, according to NPA’s Managing Director Hadiza Bala Usman, will lead to the termination of the agency’s agreement with the company. She made this known while being interviewed by CNBC Africa.
Under the Treasury Single Account (TSA), all revenue receipts and payments are done through a Consolidated Revenue Account (CRA) at the Central Bank of Nigeria (CBN).
Prior to this
Intels had in October 2017 last year being engaged in a running battle with the NPA over a move to terminate a pilotage agreement with the firm, based on advice by Abubakar Malami, the Attorney General of the Federation (AGF). The company had threatened legal action, but later backed down and made assurances that it would be applied by the TSA rules. Almost simultaneously, the Federal Inland Revenue Service (FIRS) sent a notice to the firm over unpaid taxes.
Shortly after, the company was embroiled in a disagreement with the Oil and Gas Free Zone Authority (OGFZA), over the renewal of its licence. The absence of an operational licence, lead to a loss of an expatriate quota given to companies in the free trade zone. This led to OGFZA sending a petition to the Nigerian Immigration Service (NIS), in respect of expatriates working for the firm. Subsequently, 6 companies to Intel exited the zone
About Intels
Integrated Logistics Services Nigeria Limited (Intel) was founded by Gabriel Volpi in 1982. The company is into shipping and logistics services in several ports in the country, and oil companies. Gabriel Volpi, is currently enmeshed in a tussle with Oando Plc over alleged mismanagement of the firm, and a lack of representation on the company’s board. Ex Vice President Atiku Abubakar is believed to have a major stake in the firm.
