President Tinubu frowns at Brazen Attempt of a Chinese Company’s Bid to Strip Nigeria’s Assets
Oru Leonard
In a shocking display of audacity, a Chinese company, Zhongshan Fucheng Industrial Investment Co. Limited, has been attempting to seize offshore assets belonging to the Federal Government of Nigeria through underhanded means. The Presidency has been monitoring these efforts, which have been deemed baseless and unlawful.
The roots of the dispute lie in a 2007 contract between Zhongshan and the Ogun State Government to manage a free-trade zone. However, when the contract was revoked in 2015, the company had only erected a few buildings, far from fulfilling its obligations.
Despite this, Zhongshan has been trying to exploit the situation, claiming restitution from the Ogun State Government. The Federal Government has reiterated that it is not party to the contract and owes no obligations to the Chinese company.
As the Ogun State Government works towards an amicable resolution, Zhongshan’s actions have raised concerns about its intentions and the potential risks to Nigeria’s assets abroad. The Federal Government remains vigilant, ensuring that the country’s interests are protected from such brazen attempts.
In a statement, the Special Adviser to the President on Information and Strategy, Mr. Bayo Onanuga emphasized, “We will not stand idly by while a foreign company attempts to strip our nation of its assets through deceitful means. We are committed to safeguarding Nigeria’s interests and upholding the rule of law.”
Photo Credit: Premium Times
