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!

JUNGLE JUSTICE: Suspected Robbers Burnt In Calabar

By Patrick Obia Two suspected armed robbers have been set ablaze in Calabar, the Cross River State Capital. The


Ayade To Fix Bad Roads After CrossRiverWatch Report, Protests

By Jonathan Ugbal Cross River Governor, Benedict Ayade has directed “massive and comprehensive rehabilitation of roads” across the State


Cross River Judges Should Refuse Accepting Acting CJ Positions – Fmr AG, Eyo Ekpo

By Jonathan Ugbal Mr. Eyo Ekpo, a former Attorney General and Justice Commissioner in Cross River has called on


Leave a reply:

Your email address will not be published.

Mobile Sliding Menu

Share this now