French Court Seizes 3 Nigerian Jets Amid Dispute with Chinese Company
Paris, August 16, 2024 — A French court has ordered the seizure of three jets owned by the Nigerian government, in an international dispute between the Chinese company Zhongshan Fucheng Industrial Investment, and a state in Nigeria. The legal wrangling, which stems from a terminated contract dating back to 2007, is an embarrassment to the Nigerian government and does not help its attempts at attracting foreign direct investment.
The controversy traces back to a 2007 agreement between Zhongshan Fucheng and Nigeria's Ogun State government in the southwest. The contract was aimed at developing a free-trade zone that would host a massive industrial park designed to attract international investors. However, the deal unraveled between 2015 and 2016 when the Ogun State government terminated th...