The Nigerian Presidency has accused Chinese company Zhongshan Fucheng Industrial Investment Co. Limited of attempting to seize Nigerian government assets through deceptive legal tactics. The dispute, originating from a revoked 2007 contract with Ogun State, has led to controversial court orders in France. The government vows to protect national assets.
The Nigerian Presidency has accused Chinese company Zhongshan Fucheng Industrial Investment Co. Limited of using deceptive tactics to seize offshore assets belonging to the Federal Government. According to Bayo Onanuga, the Special Adviser to the President on Information and Strategy, the company has no legitimate claim against Nigeria and is attempting to take control of these assets through unorthodox means.
The dispute originates from a 2007 contract between Zhongshan and the Ogun State Government to manage a free trade zone. The contract was revoked in 2015, with Zhongshan having only constructed a perimeter fence. Despite this, Zhongshan pursued legal action, leading to recent controversial court orders from the Judicial Court of Paris aimed at seizing Nigerian presidential jets under routine maintenance in France. The Nigerian government was not notified of these proceedings.
Onanuga emphasized that the Chinese company’s actions mirror previous attempts by foreign entities to defraud Nigeria, drawing parallels to the notorious P&ID case. He asserted that the Federal Government, in collaboration with the Ogun State Government, is committed to overturning these "frivolous" court orders and protecting Nigeria’s sovereign assets from exploitation.
Despite ongoing settlement discussions, Zhongshan has remained evasive, pushing for the full payment of an arbitration award, which the Ogun State Government has resisted in multiple jurisdictions. The Nigerian government reassured its citizens that efforts are underway to protect national assets and to resolve the dispute in a just manner, free from external pressures.
The Presidency vowed to continue safeguarding Nigeria’s interests against predatory practices disguised as legitimate investments.
