Presidency Clarifies China’s Failed Attempts to Takeover Offshore Assets
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Presidency Clarifies China’s Failed Attempts to Takeover Offshore Assets
The Presidency has debunked claims by Zhongshan Fucheng Industrial Investment Co. Limited, a Chinese company, to take over offshore assets of the Federal Government of Nigeria through subterfuge.
In a statement by Bayo Onanuga, Special Adviser to the President on Information and Strategy, the Presidency revealed that the Federal Government is not under any contractual obligation with the company, and the case in question is between Zhongshan and the Ogun State Government.
The statement clarified that Zhongshan has no solid ground to demand restitution from the Ogun State Government based on the facts regarding the 2007 contract between the company and the State Government to manage a free-trade zone.
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The Presidency also condemned Zhongshan’s arm-twisting tactics, including obtaining two orders from the Judicial Court of Paris without notice to the Federal Government and Ogun State Government.
The statement assured Nigerians that the Federal Government is working with the Ogun State Government to discharge the frivolous order in Paris immediately and protect national assets from predators.
The Presidency also revealed that Zhongshan had tried to enforce its questionable judgment in the UK and USA but failed, and that the company appeared to have sold the judgment to a venture capitalist seeking to make money by embarrassing the Federal Government and President Bola Tinubu.
The statement concluded that the Federal Government will always work to protect national assets from shylocks who masquerade as investors.
