Zhongshan, a Chinese firm entangled in a legal battle with the Ogun State government, has expressed its willingness to reach a settlement with the Nigerian government…..For More READ THE FULL ARTICLE HERE ▶▶
Thank you for reading this post, don't forget to subscribe!This move comes after a French court authorized the seizure of three Nigerian presidential jets, preventing their movement, sale, or purchase until Zhongshan receives $74.5 million, as determined by an arbitration ruling.
The seized jets, which include a Dassault Falcon 7X, a Boeing 737, and an Airbus A330, were undergoing maintenance in France and Switzerland at the time the orders were issued.
The seizure is part of Zhongshan’s efforts to enforce the arbitration award granted in its favour in March 2021.
This award followed the Ogun State government’s revocation of Zhongshan’s management contract for the Ogun Free Trade Zone in 2016.
Zhongshan has indicated its openness to negotiate with the Nigerian government to resolve the dispute.
Meanwhile, the Nigerian Federal Government, through the Offices of the National Security Adviser and the Attorney-General of the Federation, is actively challenging the court’s decision, arguing that the jets are sovereign assets meant for official use, and thus, should be immune from seizure…..For More READ THE FULL ARTICLE HERE ▶▶
