Presidential jet seizure: Amosun issues comprehensive report
Presidential jet seizure: Amosun issues comprehensive reportSenator Ibikunle Amosun, has issued a comprehensive statement addressing the ongoing dispute between two Chinese firms over the management rights of the Ogun Guangdong Free Trade Zone (OGFTZ).
The conflict, which has now escalated to involve high-level government agencies and international diplomatic channels, pits Zhongfu International Investment FXE against China Africa Investment FXE.
Background of the Dispute
The tussle for control began shortly after Senator Amosun’s administration took office on May 29, 2011. Two Chinese companies, Messrs China Africa Investment FXE and Zhongfu International Investment FXE, laid claims to the management rights of the OGFTZ.
The rivalry between these firms quickly intensified, halting business activities and threatening public safety within the Zone and surrounding communities.
Zhongfu International Investment FXE initially presented itself as a concerned tenant and stakeholder. Leveraging damaging information against China Africa Investment FXE, Zhongfu secured an interim appointment as Zone Manager on March 15, 2012. This move was intended to ensure stability while the Ogun State Government conducted a fact-finding mission.
However, it was later revealed that Zhongfu’s claims were unfounded. The firm had provided misleading information to de-market its rival and covertly take over the state-owned assets of Guangdong Province, China, along with the Zone’s management rights.
The situation took a significant turn when the Chinese Government, through Diplomatic Note 1601 dated March 11, 2016, confirmed that China Africa Investment FXE was the rightful investor. Following consultations with various governmental bodies, Ogun State terminated Zhongfu’s interim management role on May 27, 2016.
Zhongfu’s attempts to contest this decision in Nigerian courts were unsuccessful. The firm lost four cases and continued to petition higher authorities, including the Presidency and the National Assembly.
The final judgment in one notable case, Suit No AB/04/2017, restrained arbitration, highlighting the dispute as a trade issue between two Chinese entities with minimal connection to Ogun State or the Federal Government.
Senator Amosun emphasized that the original agreement from 2007, established with the predecessor administration, remains in effect. He denied any involvement in alleged harassment or intimidation during his tenure and urged Nigeria to treat Zhongfu’s claims with the same rigor applied in the P&ID case.
Senator Amosun concluded his statement by expressing his willingness to cooperate with government agencies to prevent any attempts by Zhongfu International Investment FXE or other entities to exploit Nigeria’s sovereign assets. He called for decisive action to ensure that such business disputes do not undermine the country’s economic interests or legal integrity.
