Presidency tackles Chinese Company over attempts to strip Nigeria’s assets abroad
The Presidency Thursday tackled a Chinese firm, Zhongshan Fucheng Industrial Investment Co. Limited over attempts to take over offshore assets of the federal government of Nigeria.
In a statement released on Thursday, August 15, Bayo Onanuga, special adviser to the president on information and strategy, confirmed that the federal government was aware of the attempts by the Chinese company and firmly denied any contractual obligations with them.
According to Onanuga, the dispute involving Zhongshan Fucheng is primarily between the company and the Ogun state government, not the federal government.
He said: “The ongoing issue centres around a 2007 contract between Zhongshan and Ogun State, which involved the management of a free-trade zone. However, the contract was revoked in 2015,...