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Showing posts from August 16, 2024

Nigerian presidential planes being seized in France by a court order.

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Nigerian presidential jets were seized in France and Switzerland due to a legal dispute involving the Nigerian government and a Chinese company,  Zhongshan Fucheng Industrial Investment Co. Limited . This seizure is part of a broader legal battle that has been ongoing for several years, primarily stemming from a contract dispute between Zhongshan and the Ogun State government in Nigeria. The conflict dates back to  2010 , when the  Zhuhai Zhongfu Industrial Group Co. Ltd , the parent company of Zhongshan, entered into an agreement with the Ogun State government to develop and manage the  Fucheng Industrial Park . However, in  2016 , the Ogun State government terminated this contract, leading Zhongshan to initiate legal action against Nigeria. The company claimed that the termination was unjust and sought to enforce a judgment that awarded it  $74.5 million  in damages. The French court's order prohibits Nigeria from moving or selling these jets until t...