The seizure restricts the movement, sale, or purchase of the jets until the Chinese company receives its compensation.
Premium Times reported that the court authorized the seizure of three jets from Nigeria’s presidential fleet following a contractual dispute between Zhongshan, a Chinese company, and the Ogun State government.
The jets seized include a Dassault Falcon 7X at Le Bourget Airport in Paris, a Boeing 737, and an undelivered Airbus 330 at Basel-Mulhouse Airport in Switzerland.
The dispute stems from the Ogun State government’s termination of Zhongshan’s export processing zone management contract in 2016, leading to a legal battle. An independent arbitral tribunal, chaired by a former President of the UK Supreme Court, awarded $74.5 million to Zhongshan. However, the Ogun State government has failed to honor the award, prompting the court’s decision.
The seizure restricts the movement, sale, or purchase of the jets until the Chinese company receives its compensation. Bailiffs have already served papers for the aircraft, and the Nigerian government has yet to issue a statement on the matter.
This legal action follows the recent confiscation of Nigerian-owned properties in Liverpool, England, in connection with the same dispute. Zhongshan secured charging orders against properties valued between £1.3 and £1.7 million.
The conflict dates back to 2010 when Zhongshan’s parent company, Zhuhai Zhongfu Industrial Group Co Ltd, and the Ogun Guangdong Free Trade Zone (OGFTZ) signed an agreement to establish Fucheng Industrial Park within the zone.
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