A Chinese firm, Zhongshan Fucheng Industrial Investment Co. Ltd, on Friday which is at the heart of a legal dispute with Nigeria, has released a government-owned presidential jet.
The company said it released the seized presidential jet as a “gesture of goodwill” to allow for talks.
Recall that a French court had ruled that the Chinese Firm confiscated the jet as part of a failed agreement between the government and the company.
Zhongshan Fucheng Industrial Investment Co. Ltd. said in a statement that it had lifted the seizure of the Nigerian presidential Airbus A330 to show it has “consistently sought to act reasonably and fairly in the course of a legal dispute” that was not of its making.
The dispute stems from a 2007 contract between Zhongshan and Nigeria’s southwestern Ogun state to develop a free trade zone, which was terminated in 2015 because the company had – according to the Nigerian government – done no more than erect a perimeter fence on the land earmarked for the free trade zone.
“Zhongshan remains committed to talks with representatives of the Federal Government of Nigeria, this time serious and substantive on both sides, with a view to reaching a reasonable compromise settlement rapidly,” the company said in a statement.
The Nigerian government did not immediately respond to a request for comment.
Zhongshan obtained two orders from a French court in March and August to seize Nigerian assets following an arbitration award of more than $60 million.
On Thursday, the Nigerian government accused Zhongshan of mounting a campaign to seize its assets overseas, including presidential jets undergoing maintenance in France, due to the dispute.
