The Federal Government of Nigeria has accused a Chinese company, Zhongshan Fucheng Industrial Investment Co. Limited, of subterfuge after a French court ruled in favour of the firm and granted the seizure of presidential jets belonging to the Nigerian government.
In a statement on Thursday, presidential spokesman Bayo Onanuga alleged that the Chinese firm is trying “to take over offshore assets of the Federal Government of Nigeria through subterfuge”.
In the dispute involving an arbitration award, the court in Paris ruled in favour of the Chinese firm, allowing it to seize three presidential jets on routine maintenance in France as “security” for claims in a decades-long judicial matter between the foreign company and the Ogun State government.
