The Federal Government has expressed concerns about a Chinese company, Zhongshan Fucheng Industrial Investment Co. Limited, attempting to take possession of Nigeria's presidential jets and other offshore assets through a court case in Paris, France. Three jets associated with the Nigerian government's presidential air fleet were confiscated by authorities in France and Switzerland. The confiscations occurred following a ruling by a French court that permitted the seizure of the aircraft due to a longstanding business dispute between Ogun State and the Chinese company, Zhongshan.
However, the presidency, in a statement on Thursday said it is aware of the various failed attempts by a Chinese company, Zhongshan Fucheng Industrial Investment Co. Limited, to take over offshore assets of the Federal Government of Nigeria through subterfuge.
According to the Special Adviser to the President on Information and Strategy, Bayo Onanuga, ”The case in which Zhongshan is trying to use every unorthodox means to strip our offshore assets is between the company and the Ogun State Government.
“The Federal Government is fully aware of efforts being made by the Ogun State Government to reach an amicable resolution on the matter.
“It must be said without any equivocation that Zhongshan has no solid ground to demand restitution from the Ogun State Government based on the facts regarding the 2007 contract between the company and the State Government to manage a free-trade zone,” Onanuga said.
Onanuga added that “When the contract with Ogun State was revoked in 2015, the company had only erected a perimeter fence on the land earmarked for a free trade zone.
“While the Attorney-General of the Federation and Minister of Justice is working with the Ogun State Government on an amicable resolution, Zhongshan obtained two orders from the Judicial Court of Paris dated March 7, 2024, and August 12, 2024, without any notice being duly served on the Federal Government of Nigeria and Ogun State Government.”
The Special Adviser to the President disclosed that a Chinese company has been using coercive tactics to try to seize Nigerian government-owned assets in foreign jurisdictions.
Onanuga further explained that the dealings between the Ogun State Government and Zhongshan resemble a case similar to the P&ID scandal, where fraudulent individuals pose as investors to exploit African governments.
Before concluding, Onanuga reassured Nigerians that the Federal Government is collaborating with the Ogun State Government to promptly overturn this unjust order in Paris.
Adding that the Government is committed to safeguarding national assets from unscrupulous individuals who pretend to be investors.