₦airaland Forum

BlueRayDick:
A very empty press release .

Nigerian leaders and always deflecting from the main issue and chasing shadows.

U entered into a legally binding contract with a foreign company and suddenly u decided to breach the terms of the contract . What made u breach the agreement ? They did not address that in this empty press release o.

Now the company dragged u to arbitration and 60million dollars was awarded against u. U did not find a way of settling it since 2019 o. The company now goes to a court to obtain a court judgement against u and here u are saying it is unfair . U are saying the company only erected perimeter fence as at the time u reneged on the agreement . Is that the issue here ?

I’m sure those guys were buying the lamba that Nigeria was broke until they found out Nigeria bought a $100m jet 😂

Uncletony:
Chai!, Nigeria is gone!

whyman:
STATE HOUSE PRESS STATEMENT

CHINESE COMPANY'S FRAUDULENT ATTEMPT TO STRIP NIGERIA'S ASSETS ABROAD


The Presidency is aware of the various failed attempts by a Chinese company, Zhongshan Fucheng Industrial Investment Co. Limited, to take over offshore assets of the Federal Government of Nigeria through subterfuge.

The Federal Government is not under any contractual obligation with the company. 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.

The Federal Government is fully aware of efforts being made by the Ogun State Government to reach an amicable resolution on the matter.

It must be said without any equivocation that Zhongshan 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.

When the contract with Ogun State was revoked in 2015, the company had only erected a perimeter fence on the land earmarked for a free trade zone.

While the Attorney-General of the Federation and Minister of Justice is working with the Ogun State Government on an amicable resolution, Zhongshan obtained two orders from the Judicial Court of Paris dated March 7, 2024, and August 12, 2024, without any notice being duly served on the Federal Government of Nigeria and Ogun State Government.

This arm-twisting tactic by the Chinese company is the latest in a long list of failed moves to attach Nigerian government-owned assets in foreign jurisdictions.

The material facts in the transaction between the Ogun State Government and Zhongshan point to another P&ID case in which unscrupulous and questionable individuals falsely present themselves as investors with the sole objective of undercutting and scamming Governments in Africa.

Undoubtedly, Zhongshan withheld vital information and misled the Judicial Court in Paris into attaching the Nigerian government's presidential jets, which are on routine maintenance in France. 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.

We are convinced the Chinese company misled the Judicial Court of Paris regarding the use and nature of the assets it seeks to attach and did not fully disclose to the court as required by law.

This same Chinese company had tried to enforce its questionable judgment in the UK and USA but failed.

Like the P&ID case, foreign companies are trying to defraud Nigeria with the collaboration of some bureaucrats. Zhongshan appeared to have sold the judgment they got to a venture capitalist seeking to make money by embarrassing the Federal Government and President Bola Tinubu.

We want to assure Nigerians that the Federal Government is working with the Ogun State Government to discharge this frivolous order in Paris immediately.

Nigerian Government will always work to protect our national assets from predators and shylocks who masquerade as investors.


Background to the Zhongshan Fucheng Case:

A contract between Ogun State and Zhongshan to manage a free-trade zone was executed in 2007. The parties entered into a dispute in 2015, and arbitration began in 2016.

By 2019, the arbitration hearing had been concluded. The Arbitral Panel awarded over 60 million USD against the Federal Government of Nigeria (FGN), a co-defendant, when all Zhongshan had done was build a perimeter fence around the free-trade zone.

Based on legal advice, the Ogun State Government resolved to resist the enforcement of the award. The resistance was successful in 8 different jurisdictions. There are pending appeals against recognition orders issued in both the US and UK.

Ogun State also engaged Zhongshan in settlement discussions on reasonable terms. The last meeting, held in September 2023 in London, lasted for three days and was attended by several officials of Ogun State, including Governor Dapo Abiodun and the Attorney General/Minister of Justice, Prince Lateef Fagbemi.

Zhongshan’s initial reasonable readiness to consider Ogun State's offer was surprisingly reversed by the second day when it insisted on the government paying the full arbitration debt. This led to a breakdown of the mediation, with parties agreeing to meet again in the first quarter of this year.

Since then, Zhongshan has been evasive. Instead, it embarked on a series of enforcement proceedings, which the legal team appointed by the FGN and Ogun State successfully opposed. In cases similar to the present one, where Zhongshan obtained an ex-parte order, Ogun State successfully set aside the orders.

Ogun State has not given up on a reasonable settlement option, with the most recent letter sent to Zhongshan last week. Zhongshan only responded after obtaining this latest illegal order.

Bayo Onanuga
Special Adviser to the President on Information and Strategy

August 15, 2024

Eriokanmi:
You mean Gbenga Daniel was in office in 2016 and same revoked the contract? Wonderful. Amosun won't support anything that won't put money in his pocket draudnnely. I remember the dangote refinery that was initially planned to be cited in ogun but was moved to lagos due to Amosun's greed.

I also remember the kms of roads which same dangote was constructing from ijebu igbo which amosun stopped cos the contract wasn't awarded to his crony and the idiroko road which winners Chapel wanted to rehabilitate with their money but same amosun was asking for the money or they construct the road and name it affer hom that he's the one who did it instead and oyedeposaid, to hell and stopped the project. These are the enemies of the masses you people are celebrating.

Eriokanmi:
You mean Gbenga Daniel was in office in 2016 and same revoked the contract? Wonderful. Amosun won't support anything that won't put money in his pocket draudnnely. I remember the dangote refinery that was initially planned to be cited in ogun but was moved to lagos due to Amosun's greed.

I also remember the kms of roads which same dangote was constructing from ijebu igbo which amosun stopped cos the contract wasn't awarded to his crony and the idiroko road which winners Chapel wanted to rehabilitate with their money but same amosun was asking for the money or they construct the road and name it affer hom that he's the one who did it instead and oyedeposaid, to hell and stopped the project. These are the enemies of the masses you people are celebrating.

nnatobryno:
You went into a contract then revoked it because of your political instability then expect the investor to bear the loss alone. Dey play! You think say na naija, ogun state and Nigeria na one.

membranus:
That you are trading all these accusations against Amosun doesn't mean they are true, because Amosun is almost the best performing governor of Ogun State. He transformed the physical infrastuctural ambience of Abeokuta, the state capital.

There are many beer parlour postulations on this hate-filled platform that are far from the truth. And yours are always part of them.

1000angstroms:
See bro, we are all fighting for the same thing, knowingly or unknowingly, why can't the f government be transparent, all these may have happened when the present government was not in office, now it has come to light of Nigerians awareness, why can't they say everything as it is without putting out part news to protect some people, okay, if not for you now saying all these that is from far back 2016, those of us who are seeing the present scenario play out will still be reacting to what we feel about the present polity.

And to you was it right for the populace to be crying of hunger, government said we should endure, but at the back still went ahead to buy the plane most Nigerians were against?
I want you to be neutral and judge this first.

tutudesz:
Gbenga Daniel was the one who signed the contract and he should explain the details, while Amosun should tell us the problem.

tutudesz:
Saint Gbenga Daniel is yet to say anything concerning this deal or what happened
Am very sure some financial underground deal must have been done during the planning stage
FG should invite him to explain how this national embarrassment started in the first place

BALLOSKI:
I'm happy this is happening. Our leaders are so careless and stupid. Gbenga had a deal, Amosun cancelled it by not following due process. I read they even arrested one Chinese man in connection to this Zhonshan and kept him in detention for 2 weeks - typical Nigerian method of using illegal power to subdue persons.


They won't act until it goes bad. Next time, when a sub-national is misbehaving, FG will call them to order. If this order stands, Ogun should loose a part of their monthly allocation to settle this debt.


I really don't understand how courts n order jurisdiction can have power over us. It's a better thing though because of rogues like those leading Nigeria who don't believe in doing the right thing.

tutudesz:
He cancelled it, only to hand it over to another Chinese company

BALLOSKI:
Very senseless man.

He was the one that frustrated Dangote from siting his refinery in Ogun state. Imagine such a disservice done to the people of Ogun state by the amount of revenue they'd have missed. He even bought the land in Lagos at $100m.

If he saved that money somewhere for the state, it'd be around 150,000,000,000 by now and that's without interest.

Krankhead:
So if you are owing someone and you are unable to pay, then will make your father responsible for your debt. Is this how knowledgeable you are?

Judolisco:
u r saying if your dad committed an offence the police is free to arrest you his child for d offence arbi

nnatobryno:
Go school you no gree. What is the security for the contract?
FG's argument is that the jet is under immunity not that it can't be seized

Krankhead:
You are so myopic.? Thos is not a loan , So where does collateral comes into the equation?
Even if it is a loan. Do they use govt as collateral or do the govt stand as surety for the loan. Since your loss at the poll you people continue to rant and complain on the internet. Move and go and get a job

nnatobryno:
Your Moniker 'krankhead' says it all, when state governments borrow, their FAAC is used as security. Now the Chinese company are expected to bring their funds to develop a FTZ in Ogun state. For a Chinese firm to bring Billion and develop a FTZ, there must be some sort of security to hedge the firm against political instability, insurgency or even any natural disaster that will befall the investment. what is your understanding of lending in this case or have you joined your brothers that say subsidy is different from govt paying for shortfall? Ode!!! you collect batton, you no fit run.

Mumu! for your records, Govt is arguing that the presidential Jet is under immunity hence cannot be seized
Also, The fool that signed the contract is pleading that govt to use diplomatic means to resolve it.
at the moment our property in the UK is currently on sale on ebay.

KRANKHEAD...

Krankhead:
You are still saying nonsense. I pity you.. This is not a loan can't you get it. Did the Chinese lend money to ogun state or Nigeria. Just answer the question. Your stupidity is beyond imagination. Also stop your stupidity. FAAC allocation to states is never a surety for loans between states and the lender. Where are you from.?