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Nigerian Presidential Jets seized amid $74.5M dispute with Chinese company

Woyeng Kuro by Woyeng Kuro
December 28, 2024
in Breaking News
Reading Time: 2 mins read
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Nigerian Presidential Jets seized amid $74.5M dispute with Chinese company
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In a shocking development, three Nigerian presidential jets, including a newly purchased Airbus, have been seized by a French court due to an ongoing legal battle between a Chinese company and the Ogun State Government.

The jets, part of Nigeria’s presidential air fleet, were reportedly seized after the Ogun State Government failed to honor a $74.5 million arbitration award granted to Zhongshan Fucheng Industrial Investment Co. Limited. This award, issued by an independent tribunal chaired by a former President of the UK Supreme Court, has ignited a fierce international legal dispute.

The controversy stems from a contract dispute between Zhongshan, a Chinese industrial giant, and the Ogun State Government. Despite the tribunal’s ruling, Ogun State has yet to comply with the payment, leading to aggressive legal actions by Zhongshan to seize Nigerian assets abroad.

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The Nigerian Presidency, through a statement by Bayo Onanuga, Special Adviser on Information and Strategy, has clarified that the Federal Government is not involved in any contractual obligations with Zhongshan. Onanuga emphasized that the legal battle is strictly between the Ogun State Government and Zhongshan, denouncing the Chinese company’s attempts to seize federal assets as “subterfuge.”

Read Also: Massive cyber attack hits GTBank website, customers’ data at risk

Onanuga accused Zhongshan of misleading the French Judicial Court into seizing the presidential jets, which were undergoing routine maintenance in France. He likened this situation to the infamous P&ID case, where foreign entities attempted to defraud Nigeria with the help of corrupt insiders.

The Nigerian government asserts that the presidential jets, as assets of a sovereign nation, are protected by diplomatic immunity. Onanuga expressed confidence that the Chinese company misrepresented the facts to the Paris court, leading to the wrongful seizure.

This case is the latest in a series of international legal challenges Nigeria faces, as foreign companies continue to pursue aggressive tactics to claim Nigerian assets. Zhongshan’s previous attempts to enforce its judgment in the UK and USA have already failed, further complicating the legal landscape.

The Nigerian government, in collaboration with the Ogun State Government, is reportedly taking swift action to overturn the court’s order in Paris. Onanuga reassured Nigerians that the government is committed to defending the nation’s assets against fraudulent claims and will work diligently to resolve the matter.

Tags: ChineseChinese companycompanyJets seizedNigeriaOgun StatePresidential Jets
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