The Chinese company behind the seizure of three Nigerian government presidential jets, Zhongshan, has said it is open to discussions and committed to settling the face-off between it and the Nigerian government.<\/p>\n\n\n\n
The company stated this in a statement obtained by The PUNCH on Thursday.<\/p>\n\n\n\n
Zhongshan, the Chinese company whose export processing zone management contract was revoked by the Ogun State Government in 2016, had sought the intervention of the French court in his contractual dispute with the state government.<\/p>\n\n\n\n
Following this move, the court ordered the seizure of the Federal Government\u2019s jets, having been a respondent in the matter.<\/p>\n\n\n\n
It will be recalled that on June 29, 2010, Zhuhai Zhongfu Industrial Group Co Ltd, the parent company of Zhongshan, and the Ogun Guangdong Free Trade Zone entered into an agreement on the establishment of Fucheng Industrial Park within the zone.<\/p>\n\n\n\n
This agreement gave Zhuhan the right to develop and run Fucheng Park within the zone.<\/p>\n\n\n\n
The Nigeria Export Processing Zones Authority registered Zhongfu International Investment Nig, a subsidiary of Zhongshan, as a free trade zone enterprise within the OGFZ in 2011.<\/p>\n\n\n\n
The state government later appointed Zhongfu as the interim manager\/administrator of the zone.<\/p>\n\n\n\n
However, in July 2016, Zhongfu alleged that the government had moved to terminate its appointment and appoint another manager for the free trade zone.<\/p>\n\n\n\n
This caused the Chinese company to commence an investment treaty arbitration against Nigeria, citing the bilateral investment treaty between the People\u2019s Republic of China and Nigeria.<\/p>\n\n\n\n
In the cause of the legal battle, an arbitral tribunal awarded Zhongshan about $74.5m in compensation, but the Ogun State Government, which has an axe to grind with Zhongshan, did not honour the award.<\/p>\n\n\n\n
Zhongshan\u2019s statement reads, \u201cZhongshan 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\u2019s compensation should be enforced. The French court was fully aware of the facts when it reached its decision.<\/p>\n\n\n\n
\u201cFar from being just a fence, the Ogun Free Trade Zone was featured as a significant international investment by the Economist Intelligence Unit.<\/p>\n\n\n\n
\u201cZhongshan 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.\u201d<\/p>\n\n\n\n
However, the PUNCH had reported the Ogun State government\u2019s response to the incident, where it described the French court\u2019s verdict as unfair.<\/p>\n\n\n\n
Media aide to the state governor, Kayode Akinmade, noted that the aircraft in question, \u201cAre used solely for sovereign purposes and as such are immune from attachment under international and French law. In obtaining the provisional attachments, Zhongshan deliberately withheld information from the Federal Government of Nigeria, Ogun State and their legal counsel.\u201d<\/p>\n\n\n\n
The Federal Government also condemned the seizure of the aircraft, stating that it would explore legal and diplomatic means to resolve the matter.<\/p>\n\n\n\n