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By Amah<\/p>\n
Kindly share:<\/p>\n
Zhongshan, the Chinese firm that secured a court order to confiscate three Nigerian presidential jets, has released one of the aircraft, a spokesperson for the company has told PREMIUM TIMES.<\/span><\/p>\n \u201cZhongshan has consistently sought to act reasonably and fairly in the course of a legal dispute with Nigeria which was not of its making,\u201d the official told this newspaper Friday afternoon.<\/span><\/p>\n \u201cIt (Zhongshan) has now been made aware that an Airbus A330, currently detained in France as a result of a French court order obtained by Zhongshan, is needed for the President of the Federal Republic of Nigeria to travel to a scheduled meeting with President Macron of France early next week.<\/span><\/p>\n \u201cAs a gesture of goodwill, Zhongshan has lifted the seizure of that aircraft immediately. This will allow it to be used for the President\u2019s trip.<\/span><\/p>\n \u201cZhongshan remains committed to talks with representatives of the Federal Government of Nigeria, this time serious and substantive on both sides, with a view to reaching a reasonable compromise settlement rapidly.\u201d<\/span><\/p>\n The company, however, did not say when the two remaining aircraft being detained would be released.<\/span><\/p>\n Zhongshan officials had on Thursday told this newspaper that they were willing to negotiate with the Nigerian government to resolve the logjam that culminated in the seizure of the three aircraft.<\/span><\/p>\n PREMIUM TIMES had on Wednesday reported how a French court authorised the seizure of three presidential jets linked to the Federal Government of Nigeria.<\/span><\/p>\n The court order prohibits the jets\u2019 movement, sale, or purchase until Zhongshan receives the awarded $74.5 million. Bailiffs have served papers for each aircraft.<\/span><\/p>\n Reacting in a statement on Thursday, the Special Adviser to the President on Information and Strategy, Bayo Onanuga, described the French court\u2019s order attaching Nigeria\u2019s presidential jets as a result of the arm-twisting tactic by a Chinese company.<\/span><\/p>\n Mr Onanuga highlighted various efforts the federal government and the Ogun State government had made to resolve the matter.<\/span><\/p>\n He said the Zhongshan \u201cwithheld vital information and misled\u201d the French court in Paris into attaching the Nigerian government\u2019s presidential jets.<\/span><\/p>\n He said the jets were on routine maintenance in France when the court order was issued.<\/span><\/p>\n \u201cThe 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,\u201d the statement said.<\/span><\/p>\n Background<\/span><\/p>\n The Ogun State government and Zhongshan have been locked in a long-drawn battle over the management of an export processing zone in the South-west state.<\/span><\/p>\n On 29 June 2010, Zhuhai Zhongfu Industrial Group Co Ltd, the parent company of Zhongshan, and the Ogun Guangdong Free Trade Zone (OGFTZ) entered into a framework agreement on establishing Fucheng Industrial Park within the zone. The agreement gave Zhuhan the right to develop and run Fucheng Park within the zone.<\/span><\/p>\n The Nigeria Export Processing Zones Authority registered Zhongfu International Investment (NIG) FZE, a subsidiary of Zhongshan, as a free trade zone enterprise within the OGFZ in 2011. The Ogun State government later appointed Zhongfu as the interim manager\/administrator of the zone.<\/span><\/p>\n However, in July 2016, Zhongfu alleged that the Ogun State Government had moved to terminate its appointment and appoint another manager for the free trade zone.<\/span><\/p>\n Zhongfu then launched an investment treaty arbitration against Nigeria, citing the bilateral investment treaty between the People\u2019s Republic of China and Nigeria.<\/span><\/p>\n On 26 March 2021, an arbitral tribunal issued a final award of $55,675,000 in addition to an interest of $9.4 million and costs of \u00a32,864,445 payable by Nigeria to Zhongshan.<\/span><\/p>\n This newspaper also learned that afterwards, the Federal Government repeatedly pleaded with the Ogun State Government to resolve its dispute with Zhongshan amicably, but no settlement was reached.<\/span><\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" By Amah Kindly share: Zhongshan, the Chinese firm that secured a court order to confiscate three Nigerian presidential jets, has…<\/p>\n","protected":false},"author":1,"featured_media":1704,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,2],"tags":[499],"class_list":["post-1703","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-economy","category-news","tag-presidential-jets"],"yoast_head":"\n