PRESIDENCY WORKING TO STOP CLANDESTINE MOVES BY ZHONGSHAN FUCHENG INDUSTRIAL INVESTMENT CO. LIMITED 15-08-24
By Sadiq Aminu The Presidency says it is working to stop further moves by a Chinese company, Zhongshan Fucheng Industrial Investment Co. Limited, after its several failed attempts to take over offshore assets of the Federal Government through subterfuge.
In a statement, the Federal Government argues that the Chinese company has no justification to go into conflict with the Federal Government, stressing that the government is not under any contractual obligation with the company.
According to the Federal Government, the case in which Zhongshan is trying to use every unorthodox means to strip Nigeria of her offshore assets is between the company and the Ogun State Government.
“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“When the contract with Ogun State was revoked in 2015, the company had only erected a perimeter fence on the land earmarked for a free trade zone.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”, the Federal Government explains.
It says 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.
Signed by the Special Adviser to the President on Information and Strategy, Mr. Bayo Onanuga, the statement re-assures that the Federal Government will always work to protect Nigerian assets from predators and shylocks who masquerade as investors.