By Omonu YG Nelson
The Federal Government of Nigeria has vowed to take legal and diplomatic action to protect its sovereign assets from being attached by a Chinese company, Zhongshan Fucheng Industrial Investment Co. Limited.
According to a statement released by Kamarudeen Ogundele, Special Assistant to the President on Communication and Publicity, Office of the Attorney General of the Federation and Minister of Justice, the Chinese company obtained an interim attachment order from a French court to seize three presidential aircraft undergoing maintenance in France.
“The Federal Government is taking this matter very seriously, and we will do everything within our power to ensure that the orders are discharged and our sovereign assets are protected,” Ogundele said.
The dispute arose from a contractual disagreement between the Chinese company and the Ogun State Government over the operation and management of the Ogun Guangdong Free Trade Zone. The Chinese company was awarded a final judgment in March 2021, but the Federal Government argues that the enforcement actions are being wrongly directed against it.
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“We wish to clarify that the actions of a subnational or local entity are attributable to the State or country itself, but that does not mean we will let our sovereign assets be attached,” Ogundele said.
The Federal Government maintains that the aircraft are covered by sovereign immunity and are used solely for sovereign purposes, making them immune from attachment.
“We are exploring all available legal means to resolve this dispute and protect our interests,” Ogundele added.
The incident has raised concerns about the protection of sovereign assets and the implications of international arbitration awards on national governments.