French Court Orders Seizure Of Three Nigerian Presidential Jets

A French court has ordered the seizure of three presidential jets belonging to the Nigerian government following a petition by a Chinese company, Zhongshan.

It was gathered that the dispute began when the Ogun State government terminated Zhongshan’s export processing zone management contract in 2016.

The seized Nigeria’s presidential jets include a Dassault Falcon 7X at Le Bourget airport in Paris, a Boeing 737, and an undelivered Airbus 330 at Basel-Mulhouse airport in Switzerland.

According to PREMIUM TIMES, the French court ordered the seizure due to a $74.5 million award owed to Zhongshan by the Ogun State government, following a ruling by an independent arbitral tribunal chaired by a former UK Supreme Court President.

Despite the federal government’s attempts to resolve the issue, the Ogun State government has not complied with the tribunal’s decision.

Consequently, the jets cannot be moved, sold, or purchased until the award is paid to Zhongshan.

Bailiffs have already served the necessary legal papers for each aircraft, and the Nigerian government has not yet commented on the situation.

According to reports, the Paris court ruled that the jets were seized to “preserve the claim from the arbitration award dated March 26, 2021, by an ad hoc arbitral tribunal.”

However, the Nigerian government stated it has “no contractual obligation with the company.”

Presidential spokesman Bayo Onanuga criticized Zhongshan, saying the case is between the company and the Ogun State Government.

Onanuga said, “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.

He added that the company “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”.

This incident follows a similar case where Nigerian-owned properties in Liverpool, England, were seized by a UK court over the same dispute.

Zhongshan obtained charging orders against properties valued between £1.3 and £1.7 million.

The conflict dates back to 2010 when Zhuhai Zhongfu Industrial Group Co Ltd, Zhongshan’s parent company, and the Ogun Guangdong Free Trade Zone (OGFTZ) agreed to establish Fucheng Industrial Park within the zone.

Zhongfu International Investment (NIG) FZE, a subsidiary of Zhongshan, was registered as a free trade zone enterprise in 2011.

In 2016, the Ogun State Government terminated Zhongfu’s role as interim manager of the zone, leading to the current legal battle.

Zhongfu initiated arbitration under the China-Nigeria bilateral investment treaty, resulting in the $55.7 million award plus interest and costs in March 2021. Despite efforts, no settlement has been reached.

KanyiDaily recalls that President Bola Tinubu departed Nigeria on Wednesday for a three-day official visit to Equatorial Guinea.