Zhongshan, the Chinese company whose contract to manage the export processing zone was terminated by Ogun State in 2016, announced on Thursday that it is prepared to settle with the Nigerian government.
The company made this announcement in a statement released on the same day.
Read Also: Details Of Deal That Led To $100m Presidential Jet Seizure
“Zhongshan has only ever sought to assert its rights under international law and is confident in its case. The independent arbitral panel was found unanimously in its favour, and courts in multiple countries have upheld the view that the panel’s compensation should be enforced. The French court was fully aware of the facts when it reached its decision.
“Far from being just a fence, the Ogun Free Trade Zone was featured as a significant international investment by the Economist Intelligence Unit.
“Zhongshan has for a long time been ready to enter serious negotiations with the federal government of Nigeria to settle this case and still awaits an indication that the government is equally willing,” the statement said.
Read Also: AGF Reacts To Seizure Of Presidential Jets
A French court authorized the seizure of three presidential jets belonging to the Federal Government of Nigeria.
The court order prohibits any movement, sale, or purchase of the jets until Zhongshan receives the $74.5 million awarded to it. Bailiffs have served papers for each aircraft.
In response, Bayo Onanuga, the Special Adviser to the President on Information and Strategy, criticized the court’s decision, attributing it to what he described as coercive tactics by the Chinese company Zhongshan.
Onanuga highlighted the various efforts made by both the federal and Ogun State governments to resolve the issue, alleging that Zhongshan “withheld crucial information and misled” the French court, leading to the attachment of Nigeria’s presidential jets.
He further noted that the jets were undergoing routine maintenance in France at the time the court order was issued.
“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,” the statement said.
