Cross River Govt, AMCON Disagree Over N26 Billion Tinapa Investment

In Breaking News, Business & Economy, National News, Reports

by crossriverwatch admin

Studio Tinapa
Studio Tinapa

Ongoing negotiations between the Cross River State government and the Asset Management Company of Nigeria (AMCON) over its investment in the Tinapa Business and Leisure Resort may hit a brick wall following disagreement between the two.

The negotiations according to reliable sources have broken down owing to the refusal of the Cross River State government to include the water park and the film studio being operated by Ebony Television as part of the agreement.

AMCON had, in October last year, indicated interest to invest the sum of N26 billion inTinapa but negotiations have been stalled and now “the asset company may be planning to withdraw as it feels those negotiating on the side of government are not putting all the cards on the table”. Our source said.

But in a telephone chat with CrossRiverWatch, Managing Director of Tinapa Business and Leisure Resort, Arch. Bassey Ndem described the allegation of disagreement between AMCON and the state government as ‘tissues of lies’.

He said, “If there was anything like AMCON raising issues over the transaction, they would have first contacted me and not on pages of newspapers. No official of AMCON has raised the matter with me either officially or privately. To the best of my knowledge the transaction between AMCON and Tinapa is ongoing.”

follow us on twitter @crossriverwatch

Since You Are Here, Support Good Journalism

CrossRiverWatch was founded on the ideals of deploying tech tools to report in an ethical manner, news, views and analysis with a narrative that ensures transparency in governance, a good society and an accountable democracy.

Everyone appreciates good journalism but it costs a lot of money. Nonetheless, it cannot be sacrificed on the altar of news commercialisation.

Consider making a modest contribution to support CrossRiverWatch's journalism of credibility and integrity in order to ensure that all have continuous free access to our noble endeavor.


New Feature: Don't miss any of our news again.Get all our articles in your facebook chat box.Click the Facebook Messenger Icon below to subscribe now

Text Advert by CRWatch :Place Yours

Will You To Learn How To Make Millions Of Naira Making Special Creams From Your Kitchen?.Click Here

Expose Your Business And Make More Sales. Advertise On Today

You may also read!

Thugs Brutalize Market Union Leaders For Sacking Emmanuel Mbora As Sanitation Manager

By Patrick Obia No fewer than ten Ika Ika Oqua (Marian) market union leaders have been brutalized for kicking


Stakeholders Agree To Work Towards Implementing VAPP And Disability Right Laws In Cross River State

By Ogar Monday Stakeholders from the Judiciary, Nigerian Police, and civil society have committed to work towards the full


PHED Official Electrocuted In Calabar, UNICROSS Student Butchered To Death

By Patrick Obia An official of the Port Harcourt Electricity Distribution Company (PHED) has been electrocuted in Calabar, Cross


Leave a reply:

Your email address will not be published.

Mobile Sliding Menu

Share this now