THE Nigerian government has accused Chinese company Zhongshan Fucheng Industrial Investment Co. Ltd. of launching a campaign to seize its assets abroad, including presidential jets. The accusation comes despite the company having no direct contractual ties with the federal government, according to presidential spokesperson Bayo Onanuga.
The dispute originates from a 2007 agreement between Zhongshan and Nigeria’s Ogun State to develop a free trade zone, a contract that was terminated in 2015. Onanuga stated that by the time the contract was revoked, Zhongshan had only constructed a perimeter fence on the designated land and had not made any substantial progress on the project.
Onanuga criticised Zhongshan for allegedly using ‘unorthodox means’ to misrepresent facts and secure an arbitration award of over $60 million from courts in the UK, the United States, and France. The Nigerian federal government has refused to pay the award, asserting that it was not a party to the original contract.
In March and August of this year, Zhongshan reportedly obtained court orders in France to seize Nigerian assets, including presidential jets undergoing maintenance. However, Onanuga emphasised that these assets are protected from foreign legal actions under international law.
The Nigerian government is now collaborating with Ogun State to resolve the dispute and safeguard its assets from being seized by the Chinese company. Zhongshan has not yet responded to requests for comment on the matter.
