Presidency says it is aware of the failed attempts by a Chinese company, Zhongshan

Fucheng Industrial Investment Co. Limited, to take over offshore assets of the Federal

Government of Nigeria through subterfuge.

It clarified that the Federal Government is not under any contractual obligation with

the company, noting that the case in which Zhongshan tries to use every unorthodox

means to strip the country’s offshore assets is between the company and the Ogun

State Government.

A statement by the Special Adviser to the President on Information and Strategy, Bayo

Onanuga, said, the statement comes after a Chinese company, Zhongshan, had

successfully petitioned for the seizure of three Nigerian presidential jets, after a French

court authorized the seizure of the three presidential jets due to the ongoing dispute

between Zhongshan, a Chinese company, and the Ogun State government.

However, responding to the development, Onanuga in the statement said the Federal

Government is fully aware of efforts being made by the Ogun State Government to

reach an amicable resolution on the matter, stressing that, the arm-twisting tactic by

the Chinese company is the latest in a long list of failed moves to attach Nigerian

government-owned assets in foreign jurisdictions.