The Presidency has condemned the recent actions of Zhongshan Fucheng Industrial Investment Co. Limited, a Chinese company, accusing it of attempting to unlawfully seize Nigeria’s offshore assets through deceptive tactics.<\/p>\n
In a press statement released by Bayo Onanuga, Special Adviser to the President on Information and Strategy, the Federal Government made it clear that Zhongshan\u2019s actions are baseless and not grounded in any legitimate contractual obligation with Nigeria.<\/span><\/p>\n The core of the dispute stems from a 2007 contract between Zhongshan and the Ogun State Government to manage a free-trade zone. <\/span><\/p>\n When the contract was revoked in 2015, Zhongshan had only managed to construct a perimeter fence around the proposed zone. <\/span><\/p>\n Despite the minimal progress made on the project, the company sought to demand restitution, leading to a series of legal battles.<\/span><\/p>\n \u201cZhongshan has no solid ground to demand restitution from the Ogun State Government based on the facts regarding the 2007 contract,\u201d stated Onanuga. <\/span><\/p>\n He emphasized that the Federal Government is aware of the ongoing efforts by Ogun State to reach an amicable resolution, despite the Chinese company\u2019s persistent use of unorthodox methods to strip Nigeria of its assets abroad.<\/span><\/p>\n In a controversial turn, Zhongshan obtained two ex-parte orders from the Judicial Court of Paris in March and August 2024 without duly notifying the Nigerian Federal Government or Ogun State Government. <\/span><\/p>\n These orders included the attachment of Nigerian government-owned presidential jets currently undergoing routine maintenance in France, a move the Presidency described as an \u201carm-twisting tactic.\u201d<\/span><\/p>\n The Presidency argues that the use and nature of the presidential jets, being assets of a sovereign entity, should protect them under diplomatic immunity, making any foreign court order against them invalid. <\/span><\/p>\n Onanuga expressed confidence that Zhongshan misled the Paris court about the assets and did not fully disclose all necessary information.<\/span><\/p>\n This latest attempt by Zhongshan follows a pattern similar to the infamous P&ID case, where foreign entities have tried to defraud Nigeria by collaborating with local bureaucrats. <\/span><\/p>\n Onanuga revealed that Zhongshan had previously failed in its attempts to enforce its questionable judgment in the UK and USA.<\/span><\/p>\n \u201cThe Federal Government, in collaboration with the Ogun State Government, is taking swift action to discharge this frivolous order in Paris,\u201d Onanuga assured Nigerians. <\/span><\/p>\n He reiterated the government\u2019s commitment to protecting Nigeria\u2019s national assets from predatory entities and underscored that the administration of President Bola Tinubu will not be intimidated by such fraudulent schemes.<\/span><\/p>\n \u2022Background of the Zhongshan Case<\/b><\/span><\/p>\n The dispute between Zhongshan and the Ogun State Government began in 2015, leading to arbitration in 2016. <\/span><\/p>\n Despite completing minimal work, Zhongshan was awarded over $60 million by an Arbitral Panel against the Federal Government of Nigeria in 2019. <\/span><\/p>\n However, the Ogun State Government, based on legal advice, has been resisting the enforcement of this award and has successfully opposed enforcement in eight different jurisdictions.<\/span><\/p>\n Ogun State has engaged in settlement discussions with Zhongshan, with the most recent meeting held in September 2023 in London. <\/span><\/p>\n However, the negotiations broke down when Zhongshan reversed its initial willingness to consider Ogun State\u2019s offer, insisting on full payment of the arbitration award. <\/span><\/p>\n Despite the breakdown in talks, Ogun State continues to explore reasonable settlement options, with Zhongshan only responding after obtaining the recent controversial order.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" The Presidency has condemned the recent actions of Zhongshan Fucheng Industrial Investment Co. Limited, a Chinese company, accusing it of attempting to unlawfully seize Nigeria’s offshore assets through deceptive tactics.<\/p>\n","protected":false},"author":1,"featured_media":19213,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-19212","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts\/19212"}],"collection":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19212"}],"version-history":[{"count":1,"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts\/19212\/revisions"}],"predecessor-version":[{"id":19214,"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts\/19212\/revisions\/19214"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/media\/19213"}],"wp:attachment":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}