Over the years, several Nigerian government properties have been seized by foreign governments or agencies, primarily due to legal disputes or as part of enforcement actions arising from arbitration awards.
These seizures have often involved high-profile assets, such as presidential jets, buildings, and funds held in foreign banks.
Naija News in this article lists incidents that has seen properties of the Nigerian government seized.
1. Seizure of Nigerian Presidential Jets
One of the most notable incidents occurred in 2024 when a French court authorized the seizure of three Nigerian presidential jets.
The seizure was linked to a legal dispute between the Ogun State government and Zhongshan, a Chinese company.
The dispute arose from the revocation of a contract by the Ogun State government, which led Zhongshan to seek compensation.
An independent arbitral tribunal awarded Zhongshan $74.5 million, but the award was not honored, leading to the seizure of the jets.
The seized aircraft included:
– Dassault Falcon 7X at Le Bourget Airport in Paris
– Boeing 737
– Airbus 330 at Basel-Mulhouse Airport in Switzerland
The court’s order prohibited the movement, sale, or purchase of the jets until Zhongshan received the compensation.
2. Seizure of Nigerian Properties in the United Kingdom
In 2024, Nigerian-owned properties in Liverpool, England, were seized by a UK court in connection with the same dispute involving Zhongshan.
The properties targeted were:
– 15 Aigburth Hall Road, Liverpool**
– Beech Lodge, 49 Calderstones Road, Liverpool
These properties were estimated to be worth between £1.3 million and £1.7 million.
The seizure was part of efforts by Zhongshan to enforce the arbitration award against Nigerian assets abroad.
3. Seizure of Nigerian Funds in the P&ID Case
Another major incident involved the attempted seizure of Nigerian government funds as part of the enforcement of a $9.6 billion arbitration award to Process and Industrial Development (P&ID).
The case, which has been ongoing for years, stems from a failed gas processing deal.
After Nigeria lost the arbitration case, P&ID sought to seize Nigerian government assets abroad to enforce the judgment.
The Nigerian government has been fighting the enforcement of the award in multiple jurisdictions, including the United States and the United Kingdom.
In 2020, Nigeria successfully secured a stay of execution on the seizure of its assets while it continues to contest the award in court.
4. Seizure of Nigerian Diplomatic Properties
In some instances, Nigerian diplomatic properties have also been targeted. For example, in 2012, a court in the United States authorized the seizure of Nigerian government properties in Washington, D.C., and Maryland.
The action was part of an attempt to enforce a $700 million judgment in favor of the Nigerian-owned Continental Transfert Technique Limited, which had won an arbitration award against the Nigerian government over a contract dispute.
The seized properties included diplomatic residences and offices, but the Nigerian government managed to negotiate the release of these assets after reaching a settlement.
5. Seizure of Funds in Swiss Bank Accounts
Nigeria has also faced challenges in recovering funds held in foreign bank accounts.
For years, the Nigerian government has sought to repatriate funds looted during the regime of former military ruler Sani Abacha.
Some of these funds were held in Swiss bank accounts and were initially frozen by Swiss authorities.
While a portion of the funds has been returned to Nigeria, the repatriation process has been slow and has involved multiple legal hurdles.
In 2020, Switzerland agreed to repatriate $321 million of Abacha loot to Nigeria.
However, this was just a fraction of the total amount held in foreign accounts.
These incidents highlight the far-reaching consequences of legal disputes involving Nigerian entities and the challenges the Nigerian government faces in protecting its assets abroad.
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