The Nigerian Presidency has announced plans to appeal a recent British Virgin Islands High Court judgment granting Chinese firm Zhongshan Fucheng Industrial Investment Co. Ltd. the right to seize $25 million worth of Nigerian foreign assets. The dispute stems from a 2007 contract between Zhongfu, a subsidiary of Zhongshan Fucheng, and the Ogun State Government…
A top court in the British Virgin Islands has granted Chinese investors Zhongshan the authority to seize £20 million ($25 million) from Nigeria’s foreign denominated assets over an Ogun trade zone deal that fell through in the early 2000s under then governor Ibikunle Amosun. Justice Paul Webster of the British Virgin Islands High Court on…
GISTSMATE MEDIA reports that a Chinese firm on a confiscation blitz of Nigerian assets has finalised repossession of a luxury jet owned by the West African country in Canada. According to Peoples Gazette, Zhongshang Fucheng Industrial Investment Ltd recently received a change of custodian paperwork for the Bombardier 6000 type BD-700-1A10 aircraft from Canadian authorities…
Two former governors of Ogun State, Ibikunle Amosun and Gbenga Daniel, have vowed to support Federal Government’s efforts to recover the national assets seized by a French court. A Chinese firm, Zhongshan Fucheng Industrial Investment Company Limited, had got judgment from the court, which led to the seizure of three presidential jets– a Dassault Falcon…
The management of a Chinese firm, Zhongshan Fucheng Industrial Investment Company Limited, has said its top officials were unlawfully detained and brutalised by the police during its contractual disagreement with the Ogun State Government. The firm said the maltreatment compelled it to seek the seizure of Nigerian assets overseas. The media was awash on Thursday…
Zhongshan Fucheng Industrial Investment Co. Ltd, a Chinese firm, says it has agreed to release one of Nigeria’s seized presidential jets. A French court recently ordered the seizure of three presidential jets belonging to Nigeria over a contract dispute between the Chinese firm and Ogun state government. The court ruled that the firm should use…
GISTSMATE MEDIA reports that Zhongshan Fucheng Industrial Investment Co. Limited, the Chinese firm that got a court injunction to ground three presidential jets belonging to the Federal Government in Europe, has initiated plans to seize other Nigerian assets in the United Kingdom, United States of America and in six other countries. This Nigeria news platform…