The Presidency on Thursday said it is aware of the 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.
It clarified that the Federal Government is not under any contractual obligation with the company, noting that the case in which Zhongshan tries to use every unorthodox means to strip the country’s offshore assets is between the company and the Ogun State Government.
This was contained in a statement by Bayo Onanuga, Special Adviser to the President on Information and Strategy.
The statement comes after a Chinese company, Zhongshan, had successfully petitioned for the seizure of three Nigerian presidential jets.
According to the report, a French court authorized the seizure of the three presidential jets due to the ongoing dispute between Zhongshan, a Chinese company, and the Ogun State government.
DAILY POST learnt that the seizure is a result of the government’s failure to honour a $74.5 million award granted to Zhongshan by an independent arbitral tribunal, chaired by the former President of the UK Supreme Court.
The seized jets are said to be part of Nigeria’s presidential air fleet.
However, responding to the development, Onanuga in the statement said the Federal Government is fully aware of efforts being made by the Ogun State Government to reach an amicable resolution on the matter.
Credit: dailypost.ng
