Amaechi Sold Rivers’ Asset To Fund APC & President Buhari Says Tonye Princewill [Report]

The governorship candidate of the Labour Party, LP, in Rivers State, Tonye Princewill, has accused Governor Rotimi Amaechi of selling the state’s assets to an indigenous oil company, Sahara Energy, and using the fund that accrued from the sale to finance the activities of the All Progressives Congress, APC.

Assets such as Olympia Hotel, Abonemma Wharf, Risonpalm and the power generating stations in the state were sold to Sahara Energy.

PointBlank News is reporting that Mr. Princewill alleged that the over $800 million realized from the sale of the assets was never lodged into the coffers of the state government.

“Money changed hands but the accounts they entered were not necessarily Rivers state government’s officially operated accounts,” he said.

He also alleged that there is no evidence of competitive tendering, independent valuation or a transparency in the entire process, arguing that the “Rivers people cannot be sure they got a good deal”.

“In one instance approximately $400 million changed hands over an asset that could easily be worth twice that. Why the secrecy?” he said.