Paris, France – August 15, 2024 – A French judicial authority has authorized the seizure of three aircraft linked to the Federal Government of Nigeria, sources reveal. The aircraft include two jets from Nigeria’s presidential fleet, recently listed for sale, and an undelivered Airbus 330 purchased by the Nigerian government.
This action stems from a legal application filed by Zhongshan, a Chinese firm, following a longstanding loan dispute involving the Ogun State government. In 2016, the Ogun State government revoked Zhongshan’s contract to manage an export processing zone, leading the company to seek arbitration. The dispute culminated in an independent tribunal, chaired by a former President of the UK Supreme Court, awarding Zhongshan approximately $74.5 million in damages.
Despite the tribunal’s ruling, the Ogun State government has failed to settle the debt, prompting Zhongshan to pursue enforcement measures. The recent court-sanctioned seizure of Nigerian government aircraft is a significant move aimed at recovering the owed funds.
The Nigerian government has yet to respond to this development. The seizure of the presidential jets, particularly amid ongoing financial challenges, has raised concerns about the potential impact on Nigeria’s international obligations and the state of its presidential fleet.
Muchee News will continue to follow this story closely and provide further updates as events unfold.
