RuggedBiafran:

JUST IN: Chinese investors take over Nigeria’s guest houses in Liverpool, to sell on eBay for $2.2 million


Zhongshang Fucheng has intensified steps to seize Nigeria’s assets in Europe and North America to collect up to $70 million from a 2021 arbitration verdict.

ADEFEMOLA AKINTADE • August 21, 2024
A Chinese investment group racing to recover up to $70 million in arbitration awards from Nigeria has concluded plans to list two residential structures it confiscated from the country for sale on global online marketplace eBay, Peoples Gazette was told by people familiar with the arrangement.

Zhongshang Fucheng Industrial Investment Ltd took possession of two buildings linked to the Nigerian government in Liverpool, United Kingdom, in June 2024, years after Nigeria failed to settle an arbitration judgement handed down in 2021, The Gazette learnt.

The properties, 15, Aigburth Hall Road, Liverpool and Beech Lodge, 49, Calderstones Road, Liverpool, were targeted after a December 2021 British court order gave Zhongshang executives the power to seize Nigerian assets in the UK to retrieve the $70 million payment, which remained outstanding as of August 20, 2024, with two per cent monthly interest accruals.

Zhongshang was awarded $55,675,000 plus interest of $9,400,000 and costs of £2,864,445 as of the date of the arbitration verdict on March 26, 2021, court documents said. The case stemmed from a dispute between Zhongshang and Ogun State. The firm said the state violated a 2001 trade treaty between Nigeria and China when its rights to a free trade zone were rescinded in 2016.

The company dragged Nigeria before the arbitration panel in the UK in 2018, alleging that Nigeria allowed its federal organs like the police, immigration and export processing authority to be deployed by Ogun State without due process. Court documents said two Zhongshang executives were expelled from Nigeria between mid and late 2016 after one of them had allegedly been detained and tortured by the police.

The case has once again thrown Nigeria into confusion, barely months after the country luckily escaped a similar arbitration decision that awarded over $11 billion to a consortium called P&ID. The arbitration verdict was thrown out after it was later discovered that P&ID owners were involved in bribery and corruption.

However, the Zhongshang case appeared different, with several European courts already granted enforcement orders in the UK, Belgium, France and other countries, where Nigerian-owned jets and other assets are being tracked down. An appellate panel recently declined to grant Nigeria sovereign immunity protection over Zhongshang’s recovery efforts in the United States.

A consultant working with Zhongshang said the company has been working to put the two Liverpool houses up for sale, including on eBay, where the source said up to $2.2 million would be asked for both.

“They said the value of both properties should be around $2.2 million, so they already put together a plan to sell them to willing buyers,” the consultant said under anonymity to discuss client deliberations. “Some[b] websites like eBay might bring buyers faster than other methods.[/b]”

Even though the properties belonged to Nigeria, they were seized because they weren’t listed as Nigerian diplomatic or consular assets. The Gazette learnt that those currently occupying the properties had no ties to the Nigerian mission in the UK. It was unclear when Nigeria bought the assets, but a senior judge said its officials had regularly rented out both places to guests.

In her June 14, 2024, ruling allowing Zhongshang to seize the buildings from Nigeria, Master Lisa Sullivan of the UK High Court, King’s Bench Division, said: “The properties are currently used for the purpose of leases to residential tenants unconnected with Nigeria and its mission. Those are commercial purposes for the purpose of s13(4) of the SIA and therefore the enforcement against the properties is not barred by state immunity.”

The source said the sale wouldn’t be done in secret because the Nigerian people deserved to know how much all recovered assets were being sold until the full amount had been recovered.

“Zhongshang promised to be transparent with the sale because of the keen public interest of Nigerians in the matter,” the consultant added


https://gazettengr.com/just-in-chinese-investors-take-over-nigerias-guest-houses-in-liverpool-to-sell-on-ebay-for-2-2-million/

trutharena:
Abia State Government should stop the charade, it's time for them to acknowledge the support coming from President TINUBU. Those trucks of rice are meant to alleviate hunger, not to be hidden away!

Penguin2:
Caveat: There's need to state that by 'north' here, I am referring to the northern mafias, Kaduna Mafia if you please, who have over the years constituted themselves as kingmakers of Nigeria whereby only the person they approve of can become president of Nigeria whether from their northern region or the south. So, by north, I'm not referring to the entire region nor the poor northern masses who are mere victims of the machinations of this mafia over the years.

Now that we have stated that, let's into the meat of this piece.

Any critical follower of politics in Nigeria will know that the high turnout of protesters in the north in the recently concluded #EndBadGovernance Protest was engineered by this northern mafia as a way of registering their frustration at how powerless they've become since they conspired to hand power over to Tinubu; maybe because they thought he was frail and might go the Yaradua way but man seems to have gotten new life since he was sworn in. The north has never been as powerless, politically, as they are now, and it seems Tinubu is bent on making sure he breaks their hold on Nigeria which was used to making them think they own the country. They are afraid of this happening but I think it's too late for them already.

Many may not have realized the game the north wanted to play in 2023 but I will mention it.

In 2023, this northern cabal wanted to retain power in the north through Atiku and the plan was to ensure that they make rubbish of the APC ticket to prevent a strong candidate from emerging so that Atiku's path will be smoother. This is why they wanted to useless the APC ticket by announcing Ahmed Lawan as consensus candidate. They knew nobody would vote Lawan which would leave Atiku as the most manageable option. But something happened.

Throughout their years of calculations and strategy before the 2023 elections, they never envisaged Peter Obi. They never knew that a certain Peter Obi would go to a different party and take the eastern and northern Christians votes they were banking on for Atiku away from him.

When the Peter Obi wave became too much and the north saw that the Atiku project will no longer work, add Wike and his Asoebi boys’ shenanigans too, they were now faced with a choice of either allowing Peter Obi ride on his wave to victory or ‘deliver’ Tinubu. They chose Tinubu instead. Yeah, I said they chose Tinubu because what happened in 2023 elections wouldn't have happened if these 'owners of Nigeria' were not in support.

Obasanjo knew what he was talking about, and the people he was referring to when he wrote his open letter endorsing Peter Obi in 2023.

Why did they choose Tinubu?

Many factors contributed to them choosing Tinubu. First, Peter Obi is an Igbo man, a tribe they are scared of allowing get power for whatever fear they harbour. Again, Tinubu’s Muslim Muslim ticket, which was specifically chosen to deceive them and it worked, making them think they were doing Allah’s work by choosing Tinubu. Similarly, during campaigns, Tinubu seemed he was nearing his death. So, their calculation may have been that if he goes the way of Yaradua, then power will return to the region faster.

All these and other factors made them decide that Tinubu should have it and instruction was given as such which is why a character like Mahmoud Yakubu could do what he did because he was acting on instruction from his superiors already; that’s aside the money that may have exchanged hands also.

All of this is why the north feels Tinubu owes them.

Now, why are they angry? You might ask.

1) Subsidy: Since Tinubu took power, he removed subsidy. When they talk about the vultures that were benefiting and feeding fat on subsidy payments, believe me when I tell you that most of them were northerners. Tinubu’s removal, or redirection, of subsidy payment has taken feeding bottle off their mouth and they are fighting back.

2) Exchange Rate Unification: It’s common knowledge that northerners dominate the Bureau De Change market in Nigeria with claims having been made in the past that these men used to source their dollar directly from the CBN and resell at Black Market rate to make excessive profit at the expense of Nigerians. The exchange rate unification has taken food from a lot of northern Alhajis who are the real owners of these businesses.

3) Appointments: The north spent 8 years defending Buhari's nepotistic appointments and justifying them with the most irrational reasons ever heard. What they never imagined is that a time would come when they would be the ones crying against another person's nepotism. Yes, Tinubu has broken every nepotistic record set by Buhari with nearly 80% of the appointments he has made since he took power going to the Yoruba, and the north considers that an affront. They feel they deserved more from Tinubu for 'helping' him to power. Again, they feel only one of theirs can dare to be nepotistic as Buhari was. How dare a southerner?

4) Politically: Politically, Tinubu seems to have succeeded in keeping every member of that evil circle away from his government like the likes of Elrufai, and they are not happy they are not inside. If anything, the reason somebody like Elrufai supported Tinubu was because he wanted to be Vice President. But with Tinubu shutting him out now, he has seen the pathway to his presidency dimmed which would delay, or kill, whatever agenda they want to achieve with power which they fail to achieve with Buhari.

5) Restructuring and Regionalism: If there’s anything the north hates, it’s the idea of Nigeria being restructured and the country going back to regionalism which they feel would greatly put them at a disadvantage as they are the biggest beneficiaries of the current dysfunctional structure. Now, during campaigns, Tinubu never said anything about restructuring but since he took power, we have seen documents flying around in the media space on how Nigeria is to be restructured with even a proposed return to regionalism. The presidency has never disowned this document which has heightened the fear of the north that their greatest fear might end up happening from someone they thought had no interest in that without realizing that they were simply played. Or maybe they have realized.

In a nutshell, the north was beaten at their own game in 2023 and now they are looking for a way out.

In looking for this way out, they have started fraternizing with Peter Obi to try to convince him to be Atiku’s running mate in 2027 so that Atiku can hand over to him after 4 years.

But I write this to tell Peter Obi to never make himself available for such deal in 2027.

In 2027, the north must choose between Peter Obi or Tinubu.

If they fear Igbo man so much that they cannot allow him get to power then I don’t mind Southeast voting for Tinubu to continue in power. And once Tinubu gets his second tenure and has nothing to lose anymore, he would finish off everything he has eyes on - to ensure Nigeria is completed restructured with a return to regionalism.

So, in conclusion, in 2027, the north must choose between southern candiates and no southerner, not much Peter Obi, should help save them from the misery they got themselves into by themselves.

I’ve seen early signs of them trying to throw the Jonathan joker in 2027 but that’s story for another day as we watch events unfold.

Pengiun is a bird of reason!

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EyeCumInPiss:

commoditiesnig:
Our online SE brothers make una dey calm down!..

Na Una say una no protest for una region, No Wahala. But na una carry the Protest pass for head all over social media: Promoting, Inciting and instigating protest all over social media, using "thousands" of accounts, Lol. 😂

Na only una dey post several topics about protest wey una say you no dey part of. This is the most weird mindset I've ever come across.

Most of Posts about Protest opened by you guys, yet you claim you're not interested in protest.. To be honest I hardly ever across online post from my SS folks or folks from other Regions as much as our SE brothers.. Lol

President GEJ our brother wey una dey always reference had long moved on, just as most SS do, we simply move on..

Abeg my SE brothers make una calm down ok.

This continuous irresponsible and immature actions go Just dey backfire.. It has never worked and never will.

May God help us all.

malali:
Use crypto as your middle agent.
you might lose a little
but either way no one will do it for free.
Will you pay 30% ?

GloryDome47:


I have some dollars in cash
If I give it to u how do I get the payment

Seekhimnow:


Download geegpay or chipper cash from playstore. Register with your details. They will give you foreign account details.

I have any of this and can help you receive your payment and pay you in naira.

WhiteIverson:

What's Cadana?

Zetra7:
The storm is gathering in the North ahead of 2027

Possibly lead to a combined force against Tinubu

2025 is the deciding year..

Tinubu's option is to play Obasanjo's game, harmonise Southern vote and a pinch of Northern vote.

Unfortunately, Tinubu is not Obasanjo.

Hated in SE and SS by ordinary citizens

Especially after the fallout of Igbo and Yourba in the last election.

What next? Figure out a way to get the governors and senators together.

Chief of staff - Femi came out with the brilliant idea, senate southern caucus was formed headed by Senator Adetokunbo Abiru (APC Lagos East composed of 51 senators from the 17 southern states

Next, the southern Governor meeting headed by Gov of Lagos state, SE and SS governors was asked to make request of what they need.

Forget the comminque presented to press, most requested development down SS and SE, some will need FG support to win 2 term..

Good Tinubu have started to realise his fate and making early start yet the main challenge remain ahead.

The biggest of all is this man - Peter Obi.

What he does next year or what he doesn't do will determine Tinubu's chances of 2nd term..

At some point, it might be wise for Tinubu to directly make contact with Peter Obi.

Zetra7:
The storm is gathering in the North ahead of 2027

Possibly lead to a combined force against Tinubu

2025 is the deciding year..

Tinubu's option is to play Obasanjo's game, harmonise Southern vote and a pinch of Northern vote.

Unfortunately, Tinubu is not Obasanjo.

Hated in SE and SS by ordinary citizens

Especially after the fallout of Igbo and Yourba in the last election.

What next? Figure out a way to get the governors and senators together.

Chief of staff - Femi came out with the brilliant idea, senate southern caucus was formed headed by Senator Adetokunbo Abiru (APC Lagos East composed of 51 senators from the 17 southern states

Next, the southern Governor meeting headed by Gov of Lagos state, SE and SS governors was asked to make request of what they need.

Forget the comminque presented to press, most requested development down SS and SE, some will need FG support to win 2 term..

Good Tinubu have started to realise his fate and making early start yet the main challenge remain ahead.

The biggest of all is this man - Peter Obi.

What he does next year or what he doesn't do will determine Tinubu's chances of 2nd term..

At some point, it might be wise for Tinubu to directly make contact with Peter Obi. The only thing tinubu can do to get Southern vot is to create a regional government or implement the Jonathan confab report. This is the wish of every souther and middle belt. If tinubu can do this he may not need to campaign in the south. Even peter obi will support him

Melagros:
COMRADES, I think while living at the village you don't need to wait for anybody to advise you to acquire a gun for self protection

idealogical:
If you don't have land or a backyard, to plant, get a bucket, punch a hole under the bucket, add soil, and grow your tomato and pepper.

Instead of complaining, you have the power to reduce demand and lower food prices.

MaziX:
why u go marry or give birth when u know u dey earn 62k.. why no save and get a side business before marrying. Nothing pass business.

Wisdomkosi:
"It is time we get serious with Governance in Ebonyi State. Anybody celebrating these Bus Stops as achievements in the state should be ashamed of himself. In fact, this type of project should be left for local Government Chairmen".

"It's time we start holding the government accountable. Governor Nwifuru is more than one year in office and needs to get serious with Governance in the state".

© Wisdom Nwedene

muykem:
Let us be realistic. Political appointment is not employment. It's just for little time, no pension, no retirement benefits.