• About
  • Advertise
  • Contact
Sunday, August 3, 2025
  • Login
Vital News
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
Vital News
No Result
View All Result
Home Judiciary

Zhongshan Misled Court To Attach Three Aircraft, Working To Dislodge Order – FG

Vital News by Vital News
August 15, 2024
in Judiciary, National, News
0
Tinubu Appoints Mrs Walson – Jack As New HoS, Thanks Yemi – Esan For Stewardship
Share on FacebookShare on Twitter

The Federal Government said on Thursday that it is aware of failed attempts by Zhongshan Fucheng Industrial Investment Co., a Chinese company to take over some Nigeria’s offshore assets.

Bayo Onanuga, Special Adviser to the President on Information and Strategy stated this in a statement in Abuja.

Onanuga explained that the Federal Government is not under any contractual obligation with the company.

He added that the case in which Zhongshan is trying to use every unorthodox means to strip the country’s offshore assets is between the company and the Ogun State Government.

The full text of the statement : “The Presidency is aware of the various failed attempts by a Chinese company, Zhongshan Fucheng Industrial Investment Co. Limited, to take over offshore assets of the Federal Government of Nigeria through subterfuge.

RelatedStories

Abiodun Commissions Renovated Olumo Rock Tourism Complex, Declares Free Entry For Two Months

Ododo Applauds President Tinubu, Minister Of Works Over Ongoing Reconstruction, Expansion Of Abuja–Lokoja Highway

Hafsoh Killer, Abdulrhaman Bello To Die By Hanging, Court Discharges, Acquits 4 Others

FG Seeks Partnership With Dangote Cement To Bridge Housing Gap

“The Federal Government is not under any contractual obligation with the company.

“The case in which Zhongshan is trying to use every unorthodox means to strip our offshore assets is between the company and the Ogun State Government.

“The Federal Government is fully aware of efforts being made by the Ogun State Government to reach an amicable resolution on the matter.

” It must be said without any equivocation that Zhongshan has no solid ground to demand restitution from the Ogun State Government based on the facts regarding the 2007 contract between the company and the State Government to manage a free-trade zone.

“When the contract with Ogun State was revoked in 2015, the company had only erected a perimeter fence on the land earmarked for a free trade zone.

“While the Attorney-General of the Federation and Minister of Justice is working with the Ogun State Government on an amicable resolution, Zhongshan obtained two orders from the Judicial Court of Paris dated March 7, 2024, and August 12, 2024, without any notice being duly served on the Federal Government of Nigeria and Ogun State Government.

“This arm-twisting tactic by the Chinese company is the latest in a long list of failed moves to attach Nigerian government-owned assets in foreign jurisdictions.

“The material facts in the transaction between the Ogun State Government and Zhongshan point to another P&ID case in which unscrupulous and questionable individuals falsely present themselves as investors with the sole objective of undercutting and scamming Governments in Africa.

“Undoubtedly, Zhongshan withheld vital information and misled the Judicial Court in Paris into attaching the Nigerian government’s presidential jets, which are on routine maintenance in France.

“The use and nature of the Presidential jets as assets of a Sovereign entity whose assets are protected by diplomatic immunity forbid any foreign Court from issuing an order against them.

“We are convinced the Chinese company misled the Judicial Court of Paris regarding the use and nature of the assets it seeks to attach and did not fully disclose to the court as required by law.

“This same Chinese company had tried to enforce its questionable judgment in the UK and USA but failed.

“Like the P&ID case, foreign companies are trying to defraud Nigeria with the collaboration of some bureaucrats.

“Zhongshan appeared to have sold the judgment they got to a venture capitalist seeking to make money by embarrassing the Federal Government and President Bola Tinubu.

“We want to assure Nigerians that 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.

“Background to the Zhongshan Fucheng Case : A contract between Ogun State and Zhongshan to manage a free-trade zone was executed in 2007.”

The parties entered into a dispute in 2015, and arbitration began in 2016.

“By 2019, the arbitration hearing had been concluded.

“The Arbitral Panel awarded over 60 million USD against the Federal Government of Nigeria (FGN), a co-defendant, when all Zhongshan had done was build a perimeter fence around the free-trade zone.

“Based on legal advice, the Ogun State Government resolved to resist the enforcement of the award.

“The resistance was successful in 8 different jurisdictions.

“There are pending appeals against recognition orders issued in both the US and UK.

“Ogun State also engaged Zhongshan in settlement discussions on reasonable terms.

“The last meeting, held in September 2023 in London, lasted for three days and was attended by several officials of Ogun State, including Governor Dapo Abiodun and the Attorney General/Minister of Justice, Prince Lateef Fagbemi.

“Zhongshan’s initial reasonable readiness to consider Ogun State’s offer was surprisingly reversed by the second day when it insisted on the government paying the full arbitration debt.

“This led to a breakdown of the mediation, with parties agreeing to meet again in the first quarter of this year.

“Since then, Zhongshan has been evasive. Instead, it embarked on a series of enforcement proceedings, which the legal team appointed by the FGN and Ogun State successfully opposed.

“In cases similar to the present one, where Zhongshan obtained an ex-parte order, Ogun State successfully set aside the orders.

“Ogun State has not given up on a reasonable settlement option, with the most recent letter sent to Zhongshan last week.

“Zhongshan only responded after obtaining this latest illegal order.”
(vitalnewsngr.com)

Tags: AssetsChineseNigeriaOgun
Previous Post

Presidential Aircraft : Ogun Moves To Vacate Seizure Order, Faults Fraudulent Legal Process By Zhongashan

Next Post

NCDC Records 39 Fresh Cases Of Monkeypox In Lagos, Ogun, Bayelsa, Four Other States

Vital News

Vital News

RelatedStories

Abiodun Commissions Renovated Olumo Rock Tourism Complex, Declares Free Entry For Two Months
Culture

Abiodun Commissions Renovated Olumo Rock Tourism Complex, Declares Free Entry For Two Months

August 2, 2025
Ododo Applauds President  Tinubu, Minister Of Works Over Ongoing Reconstruction, Expansion Of Abuja–Lokoja Highway
Environment

Ododo Applauds President Tinubu, Minister Of Works Over Ongoing Reconstruction, Expansion Of Abuja–Lokoja Highway

July 31, 2025
Hafsoh Killer, Abdulrhaman Bello To Die By Hanging, Court Discharges, Acquits 4 Others
Judiciary

Hafsoh Killer, Abdulrhaman Bello To Die By Hanging, Court Discharges, Acquits 4 Others

July 31, 2025
FG Seeks Partnership With Dangote Cement To Bridge Housing Gap
Environment

FG Seeks Partnership With Dangote Cement To Bridge Housing Gap

July 31, 2025
Governor Alia Dissolves Benue Executive Council, Appoints New Chief of Staff
News

Governor Alia Dissolves Benue Executive Council, Appoints New Chief of Staff

July 30, 2025
Next Post
WHO Declares Global Emergency Over New Monkeypox Outbreak

NCDC Records 39 Fresh Cases Of Monkeypox In Lagos, Ogun, Bayelsa, Four Other States

Go After Terrorists, Restructure Nigeria Now – Afenifere Urges Tinubu

Tinubu Flags Off New Healthcare Initiative, To Establish 10 Oncology Diagnostic Facilities

NJC To Probe 27 Judges For Misconduct, Places 5 On Watch List For Poor Performance

NJC To Probe 27 Judges For Misconduct, Places 5 On Watch List For Poor Performance

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow Us

Recommended

DSS Arrests Kingsley Obiora, CBN Deputy Governor

DSS Arrests Kingsley Obiora, CBN Deputy Governor

2 years ago
Abiodun Lauds FG’s Plan To Link Industrial Clusters By Rail

Abiodun Lauds FG’s Plan To Link Industrial Clusters By Rail

1 year ago
Gov. Abiodun Congratulates Super Eagles For Qualifying For AFCON Semi-final

Gov. Abiodun Congratulates Super Eagles For Qualifying For AFCON Semi-final

1 year ago
Ojumele-Ajegunle Road Damage, Clear Case Of Human Error –  Ogun Governor’s Aide, Akinmade

Ojumele-Ajegunle Road Damage, Clear Case Of Human Error – Ogun Governor’s Aide, Akinmade

1 year ago

Instagram

    Please install/update and activate JNews Instagram plugin.

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

Topics

Abiodun Abuja APC arrest Atiku Bandits Bello Benue Buhari CBN cement Court Dangote death dies drugs Economy EFCC Election elections FG gunmen Hajj INEC Kano kidnap Kill Kogi Kwara Lagos NDLEA Niger Nigeria Ododo Ogun Oyo PDP Police Power refinery rescue road Security students Tinubu
No Result
View All Result

Highlights

FG Awards Contracts Worth N68.7bln For Power Projects In Universities, Teaching Hospitals

Ododo Applauds President Tinubu, Minister Of Works Over Ongoing Reconstruction, Expansion Of Abuja–Lokoja Highway

Hafsoh Killer, Abdulrhaman Bello To Die By Hanging, Court Discharges, Acquits 4 Others

FG Seeks Partnership With Dangote Cement To Bridge Housing Gap

Canada Announces Plan To Recognise Palestinian State By September

Governor Alia Dissolves Benue Executive Council, Appoints New Chief of Staff

Trending

Hardship : PDP Governors Meet In Asaba, Call On FG To Rejig Economic Policies
Politics

PDP Fixes September 27 For Conduct Of Fresh Congresses In Oyo, Kogi, Lagos, Borno, Adamawa, 8 Other States

by Vital News
August 2, 2025
0

The Peoples Democratic Party (PDP) has fixed Saturday, September 27, 2025 for the conduct of congresses that...

Abiodun Commissions Renovated Olumo Rock Tourism Complex, Declares Free Entry For Two Months

Abiodun Commissions Renovated Olumo Rock Tourism Complex, Declares Free Entry For Two Months

August 2, 2025
NUC Team Pays Revalidation Visit To FUOYE, Lauds Visible Transformation Of Distance Learning Institute

NUC Team Pays Revalidation Visit To FUOYE, Lauds Visible Transformation Of Distance Learning Institute

August 1, 2025
Work Ongoing To Re-Erect Three Towers Along Kainji-Birnin Kebbi Transmission Line – TCN

FG Awards Contracts Worth N68.7bln For Power Projects In Universities, Teaching Hospitals

July 31, 2025
Ododo Applauds President  Tinubu, Minister Of Works Over Ongoing Reconstruction, Expansion Of Abuja–Lokoja Highway

Ododo Applauds President Tinubu, Minister Of Works Over Ongoing Reconstruction, Expansion Of Abuja–Lokoja Highway

July 31, 2025
ADVERTISEMENT
Vital News

Vital News is an online newspaper with a mission to uphold professional journalism by reporting and publishing only facts and figures-based news reports across Nigeria and beyond.

Recent News

  • PDP Fixes September 27 For Conduct Of Fresh Congresses In Oyo, Kogi, Lagos, Borno, Adamawa, 8 Other States August 2, 2025
  • Abiodun Commissions Renovated Olumo Rock Tourism Complex, Declares Free Entry For Two Months August 2, 2025
  • NUC Team Pays Revalidation Visit To FUOYE, Lauds Visible Transformation Of Distance Learning Institute August 1, 2025

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

© 2022 Vital News - . All Rights Reserved.

No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security

© 2022 Vital News - Vital News by Vital News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In