Zhongshan, the Chinese company involved in a legal dispute with the Ogun State government, has expressed its readiness to settle with the Nigerian government after a French court authorized the seizure of three Nigerian presidential jets.
The court’s decision prohibits the movement, sale, or purchase of the aircraft until Zhongshan receives $74.5 million, awarded to the company in an arbitration ruling.
The jets, including a Dassault Falcon 7X, a Boeing 737, and an Airbus A330, were all undergoing maintenance at airports in France and Switzerland when the seizure orders were issued.
The seizure is part of efforts by Zhongshan to enforce the arbitration award granted in its favor in March 2021, following the revocation of its export processing zone management contract by the Ogun State government in 2016.
In a statement sent to Premium Times, on Thursday, Zhongshan indicated that it is willing to negotiate a settlement with the Nigerian government to resolve the dispute.
This development comes amidst efforts by the Federal Government, through the Offices of the National Security Adviser and the Attorney-General of the Federation, to challenge the court orders and ensure the release of the seized jets.
The Federal Government has argued that the aircraft are sovereign assets, used solely for official purposes, and therefore immune from attachment.
The statement reads, “Zhongshan has only ever sought to assert its rights under international law and is confident in its case. The independent arbitral panel was found unanimously in its favour, and courts in multiple countries have upheld the view that the panel’s compensation should be enforced. The French court was fully aware of the facts when it reached its decision.
“Far from being just a fence, the Ogun Free Trade Zone was featured as a significant international investment by the Economist Intelligence Unit.
“Zhongshan has for a long time been ready to enter serious negotiations with the federal government of Nigeria to settle this case and still awaits an indication that the government is equally willing.”
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