Premium Times reports that a French court has authorized the seizure of three presidential jets belonging to the Nigerian government. The move is a direct result of a protracted legal battle between the Ogun State government and Zhongshan, a Chinese company.
The seized aircraft include a Dassault Falcon 7X in Paris, a Boeing 737, and an undelivered Airbus 330 in Switzerland. The latter two aircraft were reportedly part of a recent sale while the Airbus 330 was yet to be delivered.
The core of the issue lies in a revoked export processing zone management contract between Zhongshan and the Ogun State government. Following the revocation, Zhongshan initiated arbitration proceedings against Nigeria and was awarded $74.5 million. Despite repeated pleas from the federal government, Ogun State has failed to resolve the dispute, leading to the seizure of the presidential jets.
This is not the first asset seizure linked to this case. Previously, Nigerian-owned properties in Liverpool, England were also confiscated by a UK court at the behest of Zhongshan.
The Nigerian government has yet to issue an official statement regarding the seizure of the presidential jets.
