NEWS

French Court Seizes Three Nigerian Presidential Jets

A French court has authorized the seizure of three Nigerian presidential jets following a legal dispute between Zhongshan, a Chinese company, and the Ogun State government.

The conflict arose after the Ogun State government terminated Zhongshan’s export processing zone management contract in 2016. The seized jets, part of Nigeria’s presidential fleet, include a Dassault Falcon 7X in Paris, a Boeing 737, and an undelivered Airbus 330 in Switzerland.

This action stems from the government’s failure to honour a $74.5 million award granted to Zhongshan by an arbitral tribunal led by a former UK Supreme Court President. The court’s decision restricts the jets’ movement, sale, or purchase until the award is paid. Despite federal government attempts to resolve the issue, the Ogun State government has yet to comply with the tribunal’s ruling.

Bailiffs have already served papers for each aircraft. This seizure follows the recent confiscation of Nigerian-owned properties in Liverpool, England, valued between £1.3 and £1.7 million, linked to the same dispute.

The conflict originated in 2010 when Zhongshan’s parent company, Zhuhai Zhongfu Industrial Group Co Ltd, entered an agreement to develop Fucheng Industrial Park in the Ogun Guangdong Free Trade Zone. In 2011, Zhongfu International Investment (NIG) FZE, a subsidiary of Zhongshan, was registered as a free trade zone enterprise. The dispute escalated in 2016 when the Ogun State government terminated Zhongfu’s role as interim manager, leading to arbitration under a bilateral investment treaty between China and Nigeria. On March 26, 2021, the tribunal awarded Zhongshan $55.7 million plus interest and costs, but the settlement remains unresolved.

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