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Atiku Sells Intels Shares for $60m

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Atiku Abubakar
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Intels Nigeria Limited, Nigeria’s oil and gas logistics firm, has said it has severed ties with Atiku Abubakar,  former vice president, who was one of its major shareholders.

Atiku Sells Intels Shares for $60m

Atiku Abubakar

Intels said it severed ties with Abubakar and his family after the former vice president sold off his shares and exited the company last year.

Giving reasons why he sold his stake in the company, Abubakar, revealed that he fast-tracked the sale of his shares in the company because the All Progressives Congress (APC) led administration has been destroying legitimate businesses.

The former vice president who noted that he has been selling his shares in Intels over the years, added that he has redirected his investment to other sectors of the economy.

Atiku in a statement by Paul Ibe, his media adviser, said the sale of his shares in Intel “assumed greater urgency in the last five years, because this government has been preoccupied with destroying a legitimate business that was employing thousands of Nigerians because of politics.

“There should be a marked difference between Politics and Business. Yes, he has sold his shares in Intels and redirected his investment to other sectors of the economy for returns and creation of jobs.”

In a statement by Tommaso Ruffinoni, Intels spokesman, said, Abubakar, through his trust named Guernsey Trust International, sold shares of Orlean-Invest Group, Intels parent company, between December 2018 and January 2019, for a sum of approximately $60 million.

“In the period between April and May 2020, Abubakar converted his remaining shares into a convertible bond that he subsequently monetised up to a residual sum of approximately $29 million.

“When he requested to cash in the above mentioned sum, our group contested to Mr Atiku Abubakar a debt, towards our group, of $24.1 million. Without having received any answer regarding the matter, on 30th of November 2020, Mr. Atiku Abubakar was informed about the set off of such sum while we made available the remaining sum of $5.4 million.

“With the completion of the above mentioned transactions, the era of Mr. Atiku Abubakar family’s involvement with the Group Orlean-Intels is over.

“On 1st December 2020, our group terminated also the working relationship with Mr Atiku Abubakar’s sons, Mr Adamu Atiku Abubakar and Mr Aminu Atiku Abubakar, and since that date, our group do not have any contacts, neither direct nor indirect, with members of Mr Atiku Abubakar’s family,” Ruffinoni stated.


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974 Nigerians Face Imminent Deportation from Canada Amid Enforcement Surge

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974 Nigerians Face Imminent Deportation from Canada Amid Enforcement Surge – No fewer than 974 Nigerians are currently facing imminent deportation from Canada, according to official data from the Canada Border Services Agency (CBSA).

The affected individuals fall under the country’s “removal-in-progress” category, signifying that deportation proceedings have commenced but remain inconclusive, pending final arrangements such as travel documents. Between January and October 2025 alone, Canadian authorities deported 366 Nigerians, marking a significant uptick from previous years.

Of these, approximately 83 per cent comprised failed refugee claimants, while criminality accounted for about four per cent of cases. Nigeria emerged as the only African country in Canada’s top 10 nationalities for deportations in 2025, securing ninth position, while ranking fifth among those awaiting removal.

This contrasts sharply with 2023 and 2024, when Nigeria was absent from the top 10 deportation list, though figures reflect an eight per cent rise over the 2019 total of 339 removals.

Canada’s aggressive enforcement drive has seen nearly 400 foreign nationals removed weekly, culminating in 18,048 deportations during the 2024-2025 fiscal year at a cost of about $78 million.

The initiative draws support from an additional $30.5 million for removals and $1.3 billion for border enforcement, aimed at bolstering immigration controls amid pressures on housing, employment, and security.

Canada remains a prime destination for Nigerians outside the United Kingdom and United States, with over 71,000 acquiring citizenship between 2005 and 2024, alongside thousands arriving annually as students, workers, and permanent residents.

Under Canadian law, those issued enforceable removal orders must depart voluntarily or face enforced exit. The CBSA’s nationwide inventory lists 29,542 individuals in removal-in-progress as of late 2025, dominated by failed refugee claims at 15,605 cases. Nigeria’s 974 cases place it behind India (6,515), Mexico (4,650), USA (1,704), and China (1,430).

Immigration lawyers caution that passage of Bill C-12 could escalate deportations by imposing permanent bans on certain refugee claims and curbing late filings.

Authorities attribute the push to restoring system integrity, with non-compliance by refugee claimants driving most inadmissibility findings.


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HURIWA Demands Accountability from SEDC Over N140Bn Budget Utilisation

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The Human Rights Writers Association of Nigeria (HURIWA) has challenged the South East Development Commission (SEDC) leadership to provide transparent details on achievements recorded in its inaugural year despite an approved budget of N140 billion for 2025.

HURIWA Demands Accountability from SEDC Over N140bn Budget Utilisation

SEDC

HURIWA’s National Coordinator, Comrade Emmanuel Onwubiko, disclosed that the group’s researchers found no concrete evidence of infrastructure projects executed in the South-East region for the benefit of the Igbo people since the commission’s inception.

Efforts to obtain specifics from Senate Committee Chairman on SEDC, Senator Orji Uzor Kalu, and Governing Board Chairman, Chief Emeka Wogu, yielded vague responses, with Wogu citing a mere “road map” and Kalu claiming no information was available.

The rights group recalled that the National Assembly approved N140 billion for SEDC in the N54.9 trillion 2025 budget passed on February 14, matching allocations for other regional commissions like South-West, South-South, and North-Central, while North-West received N145.61 billion and Niger Delta Development Commission (NDDC) got N626.53 billion.

President Bola Tinubu signed the SEDC Establishment Bill into law on July 24, 2024, with the board inaugurated on February 12, 2025, under Chairman Emeka Wogu and Managing Director Mark Okoye.

Okoye, in his inaugural address, quoted the World Bank estimating a $10 billion annual investment need over 30 years to bridge the region’s infrastructure gap, pledging collaboration with states, private sector, and partners to build a $200 billion economy by 2035.

Priorities outlined include security and investment infrastructure, agriculture, industrialisation, technology, innovation, and human capital development, amid challenges like insecurity, low ease-of-doing-business, unemployment, and 2,500 erosion sites displacing thousands.

HURIWA noted that while the commission’s creation sparked optimism to address post-Civil War neglect, bureaucratic hurdles, political meddling, and funding opacity threaten its potential, aligning with President Tinubu’s Renewed Hope Agenda for inclusivity.

The group described SEDC’s performance as a “spectacular failure,” urging Igbo youths and intellectuals to demand accountability to prevent elite capture of funds meant for roads, housing reconstruction, ecological remediation, agriculture, manufacturing, technology, railways, and energy projects in Abia, Anambra, Ebonyi, Enugu, and Imo states.

Onwubiko warned that pocketing the cash-backed N140 billion would betray the Igbo people’s development aspirations, calling for immediate disclosure of expenditures and verifiable outcomes.


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InsomniaQ Spotlights African Creativity in Lagos

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Quickteller successfully hosted the maiden edition of InsomniaQ recently in Lagos, delivering a 12-hour non-stop celebration of African music, culture, and creativity.

A statement from the firm on Sunday stated that the event attracted a diverse audience of music lovers, culture enthusiasts, and festive diaspora returnees, marking a strong debut for what organisers described as a potential signature December event.

InsomniaQ featured a dynamic mix of live performances and DJ sets, showcasing Africa’s rich musical diversity and creative depth. From soulful sounds to high-energy performances, the festival offered a thoughtfully curated journey designed to follow the natural rhythm of its audience’s circadian cycle, sustaining energy, connection, and excitement throughout the night.

Beyond the performances, InsomniaQ emerged as a platform for shared cultural expression, creating space for celebration, discovery, and community. The experience reinforced Lagos’ position as the heartbeat of Africa’s December entertainment season and highlighted the growing appetite for premium, culturally grounded experiences.

Commenting on the success of the event, the Executive Vice President, Group Marketing and Communications, Interswitch Group, Cherry Eromosele, described InsomniaQ as an organic extension of Quickteller’s place in everyday moments of connection, culture, and celebration.

“InsomniaQ was created as a space to celebrate African creativity in its full expression, the music, the energy, and the people who make our culture so powerful.

“Seeing that vision come to life, with thousands of people connecting through sound, movement, and shared experience, has been truly rewarding. This debut edition reinforces our belief in creating platforms that bring people together and spotlights the richness of African talent in meaningful ways,” Eromosele said.

The success of InsomniaQ, according to the organisers, reflects a broader commitment within the Interswitch ecosystem to support experiences that extend beyond transactions into everyday life. By championing platforms that blend culture, innovation, and community, Interswitch continues to shape how people connect, celebrate, and experience Africa’s evolving creative economy.

With its strong debut, InsomniaQ has set the tone for future editions and established itself as a new fixture in Africa’s December calendar, celebrating culture, driving connection, and creating memorable experiences.


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