• About
  • Advertise
  • Contact
Sunday, August 24, 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

NDLEA Arrests Widow Using Fake Pregnancy To Traffic Cocaine In Lagos

Benue Assembly Gets New Speaker

Reciprocity Is Basis For Mutual International Relations – Prof. Gambari

Fulani Community Condemns Killing Of Two Soldiers In Taraba

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“When the contract with Ogun State was revoked in 2015, the company had only erected a perimeter fence on the land earmarked for a free trade zone.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

NDLEA Arrests Widow Using Fake Pregnancy To Traffic Cocaine In Lagos
Crime

NDLEA Arrests Widow Using Fake Pregnancy To Traffic Cocaine In Lagos

August 24, 2025
Benue Assembly Gets New Speaker
News

Benue Assembly Gets New Speaker

August 24, 2025
Reciprocity Is Basis For Mutual International Relations  –  Prof. Gambari
Education

Reciprocity Is Basis For Mutual International Relations – Prof. Gambari

August 24, 2025
Nigeria’s Army Generals : Battle -Tested Leaders In An Age Of Complex Warfare By Williams Charles Oluwatoyin PhD
News

Fulani Community Condemns Killing Of Two Soldiers In Taraba

August 23, 2025
Your Exit Will Not In Anyway Affects Fortune Of PDP – Makinde To Atiku
News

Oyo Disburses ₦600mln Compensation To Owners Of Properties Affected By Ibadan Circular Road Project

August 23, 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

Ibadan Explosion : Koshoedo Sympathises With Oyo Govt., Victims

Oyo Govt Seals Off Illegal Mining Factory, Arrests Four Workers

1 year ago
Tinubu Tasks New Ministers On Meeting Nigerians’ Expectations

Tinubu Tasks New Ministers On Meeting Nigerians’ Expectations

2 years ago
Alaafin Installation : Oyo Kingdom Sets Up 97 – member Coronation Committee

Alaafin Installation : Oyo Kingdom Sets Up 97 – member Coronation Committee

7 months ago

My Administration Augments Federal Allocations To Ogun LGs – Abiodun

2 years 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

Fulani Community Condemns Killing Of Two Soldiers In Taraba

Oyo Disburses ₦600mln Compensation To Owners Of Properties Affected By Ibadan Circular Road Project

Train Services On Warri–Itakpe Rail Corridor To Resume Soon – Railway Corporation

Edo Governor, Monday Okpebholo Wins Best Governor On Infrastructure Development Award

Climate Change : Group Trains Community Leaders On flood Impact, Mitigation In Taraba

Dangote Cement Re-trains 900 Truck Drivers To Boost Operational Efficiency

Trending

NDLEA Arrests Widow Using Fake Pregnancy To Traffic Cocaine In Lagos
Crime

NDLEA Arrests Widow Using Fake Pregnancy To Traffic Cocaine In Lagos

by Vital News
August 24, 2025
0

The National Drug Law Enforcement Agency (NDLEA) says it has arrested a 50-year-old widow and fashion designer,...

Benue Assembly Gets New Speaker

Benue Assembly Gets New Speaker

August 24, 2025
Reciprocity Is Basis For Mutual International Relations  –  Prof. Gambari

Reciprocity Is Basis For Mutual International Relations – Prof. Gambari

August 24, 2025
Nigeria’s Army Generals : Battle -Tested Leaders In An Age Of Complex Warfare By Williams Charles Oluwatoyin PhD

Fulani Community Condemns Killing Of Two Soldiers In Taraba

August 23, 2025
Your Exit Will Not In Anyway Affects Fortune Of PDP – Makinde To Atiku

Oyo Disburses ₦600mln Compensation To Owners Of Properties Affected By Ibadan Circular Road Project

August 23, 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

  • NDLEA Arrests Widow Using Fake Pregnancy To Traffic Cocaine In Lagos August 24, 2025
  • Benue Assembly Gets New Speaker August 24, 2025
  • Reciprocity Is Basis For Mutual International Relations – Prof. Gambari August 24, 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