'Seun Ibukun-Oni, Abuja
DAILY COURIER – The Presidency has issued a stern response to the recent actions of Zhongshan Fucheng Industrial Investment Co. Limited, a Chinese company attempting to seize offshore assets of the Federal Government of Nigeria. This attempt has been described as a fraudulent endeavor aimed at stripping Nigeria of its assets through underhanded means.
In a detailed press statement, Special Adviser to the President on Information and Strategy, Bayo Onanuga, clarified that the Federal Government of Nigeria is not under any contractual obligation with Zhongshan Fucheng. The dispute in question involves the Ogun State Government and dates back to a 2007 contract related to managing a free-trade zone.
The Ogun State Government revoked the contract in 2015 when the only progress made by Zhongshan was the erection of a perimeter fence on the designated land. Despite efforts to resolve the matter amicably, Zhongshan pursued legal actions without proper notification to Nigerian authorities.
Zhongshan obtained two controversial orders from the Judicial Court of Paris on March 7, 2024, and August 12, 2024, aiming to seize Nigerian government-owned assets abroad, including presidential jets in France. These jets, protected by diplomatic immunity, cannot be legally seized by a foreign court.
The Presidency likened this situation to the infamous P&ID case, where foreign entities attempted to defraud Nigeria through dubious claims and misleading information. Onanuga emphasized that Zhongshan had previously failed in its attempts to enforce questionable judgments in both the UK and USA.
Highlighting the Ogun State Government's consistent efforts to engage in settlement discussions, the statement revealed that Zhongshan had been evasive and opted for legal enforcement instead. The Ogun State Government, supported by the Federal Government, has successfully opposed these enforcement proceedings in multiple jurisdictions.
Governor Dapo Abiodun and Attorney General/Minister of Justice, Prince Lateef Fagbemi, have been actively involved in the resolution process. A recent meeting in London saw initial progress until Zhongshan abruptly demanded full payment of the arbitration debt, leading to a breakdown in mediation efforts.
Despite these setbacks, Ogun State has not abandoned the pursuit of a reasonable settlement. A letter was sent to Zhongshan last week, but the company responded only after securing the latest contentious order from the Paris court.
The Federal Government remains committed to protecting Nigeria's national assets from predatory entities masquerading as investors. Efforts are underway to discharge the Paris court's order, ensuring that Nigeria's sovereign assets remain secure.
This unfolding case underscores the vigilance required to safeguard national interests from unscrupulous actors on the international stage. The Nigerian government, in collaboration with the Ogun State Government, continues to stand firm against attempts to exploit the country through fraudulent means.
