AMCON selling Tinapa facility, Cross River government clarifies
By : Anietie Akpan, Calabar
Date:
1 July 2019 4:13am WAT
Share :
A photo taken on April 26, 2017 shows a view of the empty movie studios at Tinapa in Cross River State.
With its futuristic film studios, luxury shops and elevated light railway, Tinapa should be a showcase of Nigerian dynamism, a commercial hub for West Africa raking in millions of dollars. But 10 years after it opened, the resort in southeast Nigeria is a ghost town and has become a symbol of monumental waste. / AFP PHOTO / STEFAN HEUNIS
A photo taken on April 26, 2017 shows a view of the empty movie studios at Tinapa in Cross River State.
With its futuristic film studios, luxury shops and elevated light railway, Tinapa should be a showcase of Nigerian dynamism, a commercial hub for West Africa raking in millions of dollars. But 10 years after it opened, the resort in southeast Nigeria is a ghost town and has become a symbol of monumental waste. / AFP PHOTO / STEFAN HEUNIS
Managing Director, AMCON, Ahmed Kuru. Photo/EconomicConfidentialThe Cross River State government has denied selling its multi-billion naira Tinapa and Business Resort.
Top sources in government said the Asset Management Corporation of Nigeria (AMCON) that bought over the assets and liabilities of the facility as a receiver was the one selling the resort to pay off the N48 billion debt the state government is owing banks and others – being money the then Governor Donald Duke government – borrowed to put the structure in place.
