Many of Nigeria's national assets are threatened with seizure in different countries worldwide following a breach of an agreement between the Ogun state government and a Chinese firm, Zhongshan Fucheng Industrial Investment Company Limited. PAY ATTENTION: Follow our WhatsApp channel to never miss out on the news that matters to you! Legit.ng learnt that former Governor Gbenga Daniel of the state entered into an agreement with the Chinese firm, and it was terminated by his successor, Ibikunle Amosun.
Daniel, Amosun speak on deal with Chinese firm While the Chinese firm has announced that it was open to negotiation with Nigeria's government, the former governors involved in the deal have differed about the claim of the company. Amosun had warned Nigeria against negotiating with the Chinese firm, describing it as a fraud organisation, and vowed to defend his actions at any time. On the other hand, Daniel promised to provide the necessary documents for Nigeria to reclaim the seized assets.
Read also After listing Nigeria’s assets on eBay, Chinese Firm seizes another Nigerian jet in another country PAY ATTENTION: Follow us on Instagram - get the most important news directly in your favourite app! The firm has tried to retrieve its rights at several courts in Nigeria but failed. However, it has secured a judgment to seize some of Nigeria's assets in at least three countries so far. The assets are worth millions of dollars.
It was earlier learned that Zhongshan is targeting some of Nigeria's assets in at least eight countries around the world , and it has gained favour in at least three of these countries. Below is the list of Nigeria's assets under seizure so far: Three presidential jets seized in France A French court has authorized the seizure of three Nigerian presidential jets due to a legal dispute. The jets include two currently for sale and a third, an Airbus 330, purchased but not yet delivered.
Read also Nigeria loses another luxury jet worth $57 million to Chinese firm The seizure follows an application by Zhongshan, a Chinese company, which had its contract revoked by the Ogun state government in 2016. Two Nigeria properties in the US A United States Court of Appeal has issued a final charging order to Zhongshan Fucheng Industrial Investment Co. Ltd, a Chinese firm, to take over two federal government properties.
The court ordered the enforcement of the $70 million arbitration award against the Ogun state government in favour of the Chinese firm. The verdict was delivered on Friday, Aug us t 9. In the majority judgment, the court affirmed the ruling of the US District Court for the District of Columbia, which maintained that the arbitration award could be enforced.
Another Nigeria jet seized in Canada The Chinese firm has seized another Nigerian luxury jet, a Bombardier 600, in Canada as part of a global hunt for Nigerian assets. The seizure is to enforce arbitration awards of over $700 million against Nigeria. Read also Just in: "Thanks to the French court," Peter Obi asks 3 questions about presidential jet The firm has already confiscated several Nigerian assets overseas, including properties, jets, and an Airbus A330.
The latest seizure was made possible by a Quebec court judgment, which dismissed Nigeria's attempt to retain ownership of the jet. The jet was previously acquired by Dan Etete for $57 million and had been the subject of a legal battle between Nigeria and Etete since 2016. PAY ATTENTION: Stay Informed and follow us on Google News! Source: Legit.
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