Daud Olatunji
In a turn of events concerning the ongoing dispute over the seizure of Nigeria’s presidential jets, the Chinese firm Zhongshan Fucheng Industrial Investment Co. Limited has expressed its readiness to engage in negotiations with the Nigerian government to resolve the matter amicably.
The dispute arose from a revoked export processing zone management contract between Zhongshan and the Ogun State government, dating back to 2016.
On Thursday, August 15, 2024, Zhongshan issued a statement reaffirming its confidence in the legal process that had previously ruled in its favor.
The company emphasised its rights under international law, highlighting that an independent arbitral panel had unanimously awarded it $74.5 million in compensation—a ruling upheld by courts in several countries, including a recent French court decision.
“Zhongshan has only ever sought to assert its rights under international law and is confident in its case.
“ The independent arbitral panel found unanimously in its favor, and courts in multiple countries have upheld the view that the panel’s compensation should be enforced.
The French court was fully aware of the facts when it reached its decision,” the statement read.
The firm also pointed out the significance of the Ogun Free Trade Zone, recognized by the Economist Intelligence Unit as a crucial global investment.
Despite its legal victories, Zhongshan reiterated its willingness to negotiate with Nigerian authorities, noting that it is still awaiting a positive response from the government.
The situation escalated when a French court authorized the seizure of three presidential jets linked to Nigeria as part of enforcement efforts to ensure Zhongshan receives the awarded compensation.
Legal documents were served, preventing the movement, sale, or purchase of the jets until the compensation is paid.
Reacting to the court’s decision, the Special Adviser to the President on Information and Strategy, Bayo Onanuga, dismissed the ruling as an “arm-twisting tactic” by Zhongshan.
Onanuga accused the Chinese firm of misleading the French court by withholding crucial information and argued that the jets, being sovereign assets, are protected by diplomatic immunity and should not be subject to foreign court rulings.
Onanuga also clarified that the dispute is primarily between Zhongshan and the Ogun State government, and that the Federal Government is not contractually obligated to the company.
He mentioned that efforts have been made by both the Federal and Ogun State governments to resolve the matter, but the issue remains unresolved.
In a gesture of goodwill, Zhongshan announced on Friday that it had released one of the seized presidential jets to allow President Bola Ahmed Tinubu to travel to a scheduled meeting with French President Emmanuel Macron next week.
A spokesperson for the company stated, “Zhongshan has consistently sought to act reasonably and fairly in the course of a legal dispute with Nigeria which was not of its making. As a gesture of goodwill, Zhongshan has lifted the seizure of that aircraft immediately.”
The spokesperson further reiterated Zhongshan’s commitment to serious negotiations with the Nigerian government, aiming for a rapid and reasonable settlement.
In response, Onanuga stated that the Presidency is aware of Zhongshan’s ongoing attempts to seize offshore assets belonging to the Nigerian government through what he termed “subterfuge.”
He emphasized that the Federal Government is determined to protect Nigeria’s national assets from what he described as predatory tactics by the Chinese firm.
Onanuga likened the situation to the notorious P&ID case, where foreign companies sought to exploit legal loopholes to defraud the Nigerian government.
“The Federal Government is working with the Ogun State Government to discharge this frivolous order in Paris immediately.
Nigerian Government will always work to protect our national assets from predators and shylocks who masquerade as investors,” Onanuga asserted.
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