Zhongshan Fucheng Industrial Investment Co. Limited, the Chinese company that recently secured a court injunction to ground three Nigerian presidential jets in Europe, has expanded its legal efforts to seize more Nigerian assets in various countries around the world. Documents obtained on Thursday reveal that the company has initiated legal proceedings in eight jurisdictions, including the United Kingdom, United States, Belgium, Canada, France, Singapore, and the British Virgin Islands.
According to Punch, these actions are part of Zhongshan’s ongoing efforts to enforce a $74.5 million arbitration award granted by an independent arbitral tribunal. The award stems from a contractual dispute between Zhongshan and the Ogun State government regarding the development and management of the Ogun Guangdong Free Trade Zone.
The Federal Government of Nigeria has vowed to protect its foreign assets from what it described as “predators,” as the dispute continues to escalate on multiple fronts. The recent seizure of Nigerian presidential jets, including a Dassault Falcon 7X and a Boeing 737, has already stirred significant controversy. The dispute traces back to 2010 when Ogun State entered into a joint venture with Zhongshan’s parent company to develop an industrial park within the Ogun Guangdong Free Trade Zone.
However, the agreement was terminated in 2016, leading Zhongshan to file lawsuits seeking reinstatement of its contractual rights. After exhausting legal options in Nige.