It has been revealed that the immediate-past administration in Rivers State under the leadership of former governor, ROTIMI AMAECHI, did not sell Olympia Hotel, but leased it to a private property consortium.

It has been revealed that the immediate-past administration in Rivers State under the leadership of former governor, ROTIMI AMAECHI, did not sell Olympia Hotel, but leased it to a private property consortium. The Project Engineer of Centuruim Sarophyn Limited, CHINEDU OPALAEKE, said the leasing company paid the sum of one million US dollars into an account with a new generation bank for the transaction. OPALEKE made the disclosure when he appeared before the Commission of Inquiry set up by Governor NYESOM WIKE to investigate selected financial transactions by the past administration. OPALAKE told the panel headed by Justice GEORGE OMEREJI that Centuruim Sarophyn Limited secured a concession agreement of forty years for Olympia Hotel. He said the state government will get additional two million, four hundred and fifty thousand dollars as rent within the period of the lease agreement, which puts the total sum accruable to the state at three million, four hundred and fifty thousand dollars. Correspondent VICTOR EZEAMA reports that the Rivers State Commission of Inquiry will today rule on whether to order the arrest of some former local government chairmen linked to the disbursement an alleged four billion naira agric loan scheme.