Zhongshan, the Chinese company at the centre of a dispute with the Nigerian government over the seizure of three presidential jets, has responded to claims made by the Federal Government. In a statement, Zhongshan said it is ready to settle with the Nigerian government and has been waiting for an indication that the government is willing to negotiate......Read The Full Article>>.....Read The Full Article>>
The company’s statement comes after a French court authorized the seizure of the three presidential jets linked to the Federal Government of Nigeria. The court order prohibits the jets’ movement, sale, or purchase until Zhongshan receives $74.5 million awarded to the company.
Zhongshan said it has only ever sought to assert its rights under international law and is confident in its case.
“Zhongshan has only ever sought to assert its rights under international law and is confident in its case. The independent arbitral panel was found unanimously in its favour, and courts in multiple countries have upheld the view that the panel’s compensation should be enforced. The French court was fully aware of the facts when it reached its decision.
“Far from being just a fence, the Ogun Free Trade Zone was featured as a significant international investment by the Economist Intelligence Unit.
“Zhongshan has for a long time been ready to enter serious negotiations with the federal government of Nigeria to settle this case and still awaits an indication that the government is equally willing,” the statement said.
Recall that in response to the court judgement, the Special Adviser to the President on Information and Strategy, Bayo Onanuga, described the order by the French court as a result of arm-twisting tactics by Zhongshan. Onanuga said the federal government and the Ogun State government had made efforts to resolve the matter, but Zhongshan withheld vital information and misled the French court.
“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,” Onanuga said.
The dispute between Zhongshan and the Nigerian government dates back to 2016 when the Ogun State government revoked the company’s export processing zone management contract. Zhongshan launched an investment treaty arbitration against Nigeria, citing the bilateral investment treaty between China and Nigeria.
An arbitral tribunal eventually issued a final award of $55,675,000 in addition to interest and costs payable by Nigeria to Zhongshan in March 2021.
