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AMCON selling Tinapa facility, Cross River government clarifies


Managing Director, AMCON, Ahmed Kuru. Photo/EconomicConfidential

The 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.

The sources maintained: “it is AMCON that is selling Tinapa and not the state government.”

But you cannot shave our hair in our absence hence the tripartite meeting with ROPA Corporation Inc., AMCON and the state government.”

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