Amaechi sold Rivers’ asset to fund APC, Buhari – Tonye Princewill

(December 21, 2014 )

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.

PREMIUM TIMES recently reported how assets such as Olympia Hotel, Abonemma Wharf, Risonpalm and the power generating stations in the state were sold to Sahara Energy.

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.

Mr. Princewill, who said he worked for the success of Mr. Amaechi during his election in 2007, also accused the governor of using threat and intimidation to force the sale of the assets to Sahara Energy after the company began to develop cold feet funding the politics of an opposition party.

“Incidentally the partners in the company (who were) uncomfortable with the obvious attempt to finance the politics of Amaechi hesitated to approve the transactions.

“But a prompt threat from the Rivers Government made them rethink. Can anyone say they did not know what the money would be used for?

“Amaechi is one of the chief financiers of the APC election and a close ally of Buhari,” he said.

He also accused the Rivers governor of using some of the proceeds of the sale to launch international propaganda for the 2015 election.

“Information reaching me is that international media organizations have already been paid in USD from these transactions to come and cover the 2015 elections in a Tahrir square strategy.

“The aim of the opposition is to gather crowds in a single location and beam pictures around the world creating the impression that the whole country is in chaos,” Mr. Princewill said.

Efforts to get the Rivers Information Commissioner, Ibim Semenitari, to react to the allegations were unsuccessful. She did not return calls and sms sent to her at the time of publishing

Premium Times

Who we go ask

Okay!

Okay we have noticed you....next?

nothing will till b done about dis,
d money has entered voice mail

Ok

Nothing will happen. is Amaechi not a friend of ur president? This selective hunting of looters will backfire on Buhari.

AMEACHI IS IN APC, THEREFORE HE IS A SAINT. WE ARE WATCHING THE CHANGE

Sue him to court if you've got evidence nah!

Why dig up this old news, stupid op

FYI 'Efforts to get the "FORMER" Rivers Information Commissioner "UNDER AMAECHI", Ibim Semenitari'

This op must be high on rubber seed. Princewill has since turned his frustration on wike.

Tonye princewill, 'neither here nor there'.

we already know that.

all effort by Wike to probe the bastard thief was frustrated by Buhari the terrorist

PRYCE:
Sue him to court if you've got evidence nah!

stupid

U can imagine

comos:

stupid

Won't join issues with you! So Ama pretend I didn't see the insult!...

PRYCE:
Sue him to court if you've got evidence nah!

Rubbish, the courts that are in the hands of his grand-master from Duara dictator

Imagine who is talking.. Tonye Princewil? A man that has lost all political relevance in Rivers state. This is Tony princewill and what he does. every election he will deceive himself like a serious minded politician. He will make all d noise on d pages of newspapers and other media. Once d election is over and he gets his settlement, u won't hear from him again till d next election. Tony was expelled from the Labour party when it was open that he was settled by d PDP to back off. Tony princewil is talking now because he is seeing d handwriting on d wall that Rivers state is heading towards a re run election. In every election in Rivers state, he will come out to camouflage as a serious contender all geared towards political settlement from Party A or Party B. In Rivers state where we both come from, nobody, I mean nobody takes him serious anymore. Mr Tonye Princewill is dead politically.

800million dolls and rivers state is up and running! Tonye need to through up more lies.

lyricalpontiff:
Why dig up this old news, stupid op

It's the anniversary of the news. Exactly 1 year ago this was already in progress. Just to make everyone understand that we haven't forgotten and are still watching.

ogmaskman:
This op must be high on rubber seed. Princewill has since turned his frustration on wike.

Tonye princewill, 'neither here nor there'.

It's not about support, it is about the crime since unpunished yet you want to stop corruption. When in the real sense is was only monopolised.

@OP This news is as old as your brain, no lie only truth!