Zhongshan, the Chinese business that was responsible for the seizure of three presidential airplanes owned by the Nigerian government, has declared that it is willing to negotiate and is dedicated to resolving the conflict between it and the government.
This was said by the business in a statement that The PUNCH was able to get on Thursday.
The French court was asked to become involved in a contractual dispute involving Zhongshan, a Chinese company whose contract for the management of an export processing zone was terminated by the Ogun State Government in 2016.
As a response to this action, the court issued an order for the Federal Government’s jets to be seized.
Recall that on June 29, 2010, the Ogun Guangdong Free Trade Zone and Zhuhai Zhongfu Industrial Group Co Ltd, the parent firm of Zhongshan, signed an agreement for the creation of Fucheng Industrial Park inside the zone.
Zhuhan was granted the authority to manage and develop Fucheng Park inside the zone by this arrangement.
Zhongfu International Investment Nig, a Zhongshan subsidiary, was registered as a free trade zone firm within the OGFZ by the Nigeria Export Processing Zones Authority in 2011.
Zhongfu was subsequently designated by the state government as the zone’s acting manager and administrator.
Zhongfu, however, claimed in July 2016 that the government had taken steps to rescind its nomination and name a new manager for the free trade zone.
Citing the bilateral investment treaty between the People’s Republic of China and Nigeria, this prompted the Chinese company to file for investment treaty arbitration against Nigeria.
Zhongshan was awarded approximately $74.5 million in compensation by an arbitral tribunal during the legal dispute; however, the Ogun State Government, who harbors animosity towards Zhongshan, chose not to comply with the ruling.
According to Zhongshan’s statement, it is confident in its position and has only ever attempted to exercise its rights under international law. The independent arbitral panel’s decision was made unanimously, and courts across several nations have supported the idea that the panel’s award should be implemented. When the French court made its ruling, it was fully informed of the available facts.
The Economist Intelligence Unit described the Ogun Free Trade Zone as a major international investment, indicating that it is much more than just a barrier.
“Zhongshan has been prepared to engage in serious negotiations with the Federal Government of Nigeria to resolve this matter for a considerable amount of time, and we are currently awaiting confirmation that the government is on board with us.”
The Ogun State administration responded to the incident, though, and was quoted in the PUNCH as calling the French court’s decision unfair.
The airplanes in question “are used solely for sovereign purposes and as such are immune from attachment under international and French law,” according to Kayode Akinmade, the state governor’s media assistant. Zhongshan purposefully concealed information from the Federal Government of Nigeria, Ogun State, and its legal counsel in order to secure the provisional attaches.
Along with denouncing the aircraft’s seizure, the Federal Government promised to investigate all available legal and diplomatic options for resolving the issue.
