The Presidency has revealed that a Chinese company, Zhongshan Fucheng Industrial Investment Co. Limited, is attempting to take over Nigeria’s offshore assets through subterfuge.
The company is involved in a legal dispute with the Ogun State government over a failed contract to manage a free-trade zone.
According to a statement by Bayo Onanuga, Special Adviser to President Tinubu on Information and Strategy, the Federal Government is not under any contractual obligation with Zhongshan. The company’s attempts to attach Nigerian government-owned assets in foreign jurisdictions have been described as “arm-twisting tactics.”
The Presidency has assured Nigerians that the Federal Government is working with the Ogun State Government to discharge the “frivolous order” obtained by Zhongshan in Paris.
The government will protect Nigeria’s national assets from “predators and shylocks” masquerading as investors.
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Keywords: Zhongshan Fucheng, Chinese company, Nigeria’s assets, Presidency, Ogun State government, contract dispute, free-trade zone.
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