Revenue Remittance: Senate Indict Intels, Wants Proper Scrutiny Of Company’s Activities
The Senate adhoc Committee on Alleged Mis-Use, Under Remittance and Other Fraudulent Activities In Collection, Accounting, Remittance and Expenditure of IGR by Revenue Generating Agencies Between January 2012 and December 2016 has indicted Integrated Logistics Services Limited, otherwise known as Intels for shortchanging the Federal Government of substantial revenue.
Intels has been in the news in recent times following the termination boat pilotage service agreement entered into by the Nigerian Ports Authority (NPA).
The indictment by the Senate panel further give credence to the reason for the termination of the contract which NPA did is largely due to the refusal of the company to comply with the Treasury Single Account (TSA).
Former Vice President, Atiku Abubakar, is a co-founder and shareholder in Intels.
The panel in the report of its investigation requested for proper scrutiny of Intel Nigeria Limited to recoup revenue that should have accrued to the Federal Government.
The report reads in part: “The committee is of the view that NPA can generate more revenue given more prudent management of the ports infrastructure.
“The issue of contractual relationship between NPA and Intel has denied N.P.A substantial revenue. Though the contract has been terminated. Previous activities of Intel in the relation to NPA need to be properly scrutinized to re-coup whatever may have been unduly denied the government.”