On Thursday, the Presidency addressed concerns regarding the recent attempts by the Chinese company Zhongshan Fucheng Industrial Investment Co. Limited to seize offshore assets belonging to the Federal Government of Nigeria.
The Presidency clarified that the Federal Government has no contractual obligations with Zhongshan and emphasised that the ongoing legal battle involves the company and the Ogun State Government specifically.
The statement, issued by Bayo Onanuga, Special Adviser to the President on Information and Strategy, follows reports that Zhongshan had successfully petitioned for the seizure of three Nigerian presidential jets.
The French court’s decision to authorise this seizure was reportedly due to a dispute between Zhongshan and the Ogun State Government over a $74.5 million award granted by an independent arbitral tribunal chaired by a former President of the UK Supreme Court.
The presidential jets in question are part of Nigeria’s official air fleet, and their seizure in France has sparked significant concern.
Onanuga’s statement, however, made it clear that the Federal Government is aware of the efforts being made by Ogun State to resolve the matter amicably.
He highlighted that the action by Zhongshan represents yet another attempt to exploit Nigerian assets using unorthodox means.
“The recent attempt by Zhongshan to attach Nigerian government-owned assets abroad is part of a troubling pattern of failed attempts by foreign entities to exploit and defraud Nigeria,” Onanuga stated.
“This tactic bears resemblance to the P&ID case, where questionable individuals seek to exploit legal systems to undermine and scam African governments.”
Onanuga further asserted that Zhongshan’s actions involved withholding crucial information and misleading the French court regarding the nature and use of the seized jets.
He argued that as assets of a sovereign entity, the presidential jets are protected by diplomatic immunity, and thus should not be subject to foreign court orders.
“The Nigerian government is confident that Zhongshan misled the French court about the nature of these assets,” he said.
The statement also revealed that Zhongshan had previously attempted to enforce its judgement in the United Kingdom and the United States but was unsuccessful.
Onanuga suggested that Zhongshan’s recent actions might involve an effort to sell the judgement to a venture capitalist aiming to embarrass the Nigerian Federal Government and President Bola Tinubu.
“This case bears similarities to the P&ID scandal, where foreign companies colluded with corrupt bureaucrats to defraud Nigeria.
Zhongshan’s attempt to sell its judgement is a clear example of how foreign entities seek to exploit legal systems for financial gain,” Onanuga added.
The Federal Government, in collaboration with the Ogun State Government, is actively working to counteract the French court’s order.
The Presidency assured Nigerian citizens that steps are being taken to address and overturn the seizure order promptly.
This incident highlights ongoing challenges faced by Nigeria in protecting its assets from international legal disputes and fraudulent claims.
The response from the Presidency underscores a commitment to defending Nigeria’s sovereign assets and upholding legal and diplomatic protections.
Support InfoStride News' Credible Journalism: Only credible journalism can guarantee a fair, accountable and transparent society, including democracy and government. It involves a lot of efforts and money. We need your support. Click here to Donate