Three presidential jets allegedly linked to the Federal Government of Nigeria, will soon be owned by Zhongshan, a Chinese company, all thanks to Ogun State.
As we speak, a French court has authorized the seizure of the three presidential jets as part of the legal battle involving Zhongshan.
Basically, the company had a business dispute with the Ogun State government.
This dispute led to this significant legal action.
Presidential Jets
The three seized jets include a Dassault Falcon 7X at Le Bourget airport in Paris, a Boeing 737, and an Airbus 330 located at Basel-Mulhouse airport in Switzerland.
All three aircraft are part of Nigeria’s presidential air fleet and are currently undergoing maintenance.
Two of the jets were recently put up for sale, while the Airbus 330 was purchased by Nigeria but had not yet been delivered.
The Nigerian government reportedly paid over $100 million for the Airbus.
Ogun State Vs Zhongshan Company
This drama started in 2016.
That year, the Ogun State government made a decision to revoke Zhongshan’s export processing zone management contract.
Following this revocation, an independent arbitral tribunal, chaired by a former UK Supreme Court President, awarded Zhongshan $74.5 million in compensation.
But guess what?
The Ogun State government has yet to honor the award.
That is what pushed Zhongshan to seek enforcement against Nigerian assets abroad.
Legal Battle
The French court’s order prohibits the movement, sale, or purchase of the seized jets until the $74.5 million compensation is paid to Zhongshan.
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Bailiffs have already served legal papers for each aircraft, signaling a significant escalation in the ongoing legal dispute.
This development follows a similar incident in which Nigerian-owned properties in Liverpool, England, were seized by a UK court in connection with the same dispute.
Zhongshan secured charging orders against two properties in Liverpool—15 Aigburth Hall Road and Beech Lodge, 49 Calderstones Road—which are estimated to be worth between £1.3 million and £1.7 million.
The Nigerian government is yet to comment on the development.
