The Presidency on Thursday said it is aware of the unsuccessful attempts by a Chinese company, Zhongshan Fucheng Industrial Investment Co. Limited, to take over the offshore assets of the Federal Government of Nigeria through subterfuge.
It was clarified that the Federal Government is not under any contractual obligation to the company, and that the case in which Zhongshan is attempting to strip the country's offshore assets through unconventional methods is between the company and the Ogun State Government. This was stated by Bayo Onanuga, the Special Adviser to the President on Information and Strategy.
The press release comes after the successful petition for the seizure of three presidential jets in Nigeria filed by Zhongshan, a Chinese firm. According to the report, a French court authorized the seizure of the three presidential jets due to the ongoing dispute between Zhongshan and the Ogun State government.
Our reporters gathered that the seizure is because the government failed to honour a $74.5 million award granted to Zhongshan by an independent arbitral tribunal, chaired by the former President of the UK Supreme Court. The seized jets are said to be part of Nigeria’s presidential air fleet.
In response, Onanuga said in the statement that the Federal Government is fully aware of the efforts made by the Ogun State Government to achieve a peaceful resolution of the matter.
“This same Chinese company had tried to enforce its questionable judgment in the UK and USA but failed.
“Like the P&ID case, foreign companies are trying to defraud Nigeria with the collaboration of some bureaucrats. Zhongshan appeared to have sold the judgment they got to a venture capitalist seeking to make money by embarrassing the Federal Government and President Bola Tinubu.
“We want to assure Nigerians that the Federal Government is working with the Ogun State Government to discharge this frivolous order in Paris immediately.” the statement read.
