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Jets Seizure: FG Accuses Chinese Firm Of ‘Fraudulent’ Attempt To Strip Nigeria’s Assets

The Federal Government of Nigeria has accused a Chinese company, Zhongshan Fucheng Industrial Investment Co. Limited, of subterfuge after a French court ruled in favour of the firm and granted the seizure of presidential jets belonging to the Nigerian government.
In a statement on Thursday, presidential spokesman Bayo Onanuga alleged that the Chinese firm is trying “to take over offshore assets of the Federal Government of Nigeria through subterfuge”.
In the dispute involving an arbitration award, the court in Paris ruled in favour of the Chinese firm, allowing it to seize three presidential jets on routine maintenance in France as “security” for claims in a decades-long judicial matter between the foreign company and the Ogun State government.
Free-Trade Zone RowBack in 2007, the foreign firm signed a contract with the Ogun State government to manage a free-trade zone but the contract was revoked by the state government in 2015.
Displeased, Zhongshan initiated an investment treaty arbitration against Nigeria under the bilateral investment treaty between the People’s Republic of China and Nigeria (the China-Nigeria BIT).
The arbitrators ruled that Nigeria was in breach of its obligations under the China-Nigeria BIT and awarded Zhongshan compensation amounting to millions of dollars.
The Nigerian government and the subnational appealed the matter in “eight” jurisdictions including the United Kingdom and the United States.
The latest jurisdiction is in France, where three Nigerian presidential jets are on routine maintenance.
According to reports, the court in Paris held that the seizure of the jets was to “preserve the claim arising from the arbitration award dated 26 March 2021, made by an ad hoc arbitral tribunal”.
But the Nigerian government said it is “not under any contractual obligation with the company”.
“The case in which Zhongshan is trying to use every unorthodox means to strip our offshore assets is between the company and the Ogun State Government,” Onanuga said, flaying Zhongshan which he said “has no solid ground to demand restitution from the Ogun State Government based on the facts regarding the 2007 contract between the company and the State Government to manage a free-trade zone”.
“When the contract with Ogun State was revoked in 2015, the company had only erected a perimeter fence on the land earmarked for a free trade zone,” he said.
Arm-Twisting Tactics?
Onanuga said despite that the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, has been working with the Ogun State Government on an amicable resolution, “Zhongshan obtained two orders from the Judicial Court of Paris dated March 7, 2024, and August 12, 2024, without any notice being duly served on the Federal Government of Nigeria and Ogun State Government”.
“This arm-twisting tactic by the Chinese company is the latest in a long list of failed moves to attach Nigerian government-owned assets in foreign jurisdictions.
“The material facts in the transaction between the Ogun State Government and Zhongshan point to another P&ID case in which unscrupulous and questionable individuals falsely present themselves as investors with the sole objective of undercutting and scamming Governments in Africa.
”He claimed the foreign company “withheld vital information and misled the Judicial Court in Paris into attaching the Nigerian government’s presidential jets, which are on routine maintenance in France”.
“The use and nature of the Presidential jets as assets of a Sovereign entity whose assets are protected by diplomatic immunity forbid any foreign Court from issuing an order against them.
“We want to assure Nigerians that the Federal Government is working with the Ogun State Government to discharge this frivolous order in Paris immediately.
“Nigerian Government will always work to protect our national assets from predators and shylocks who masquerade as investors,” he noted.
Shrinking Presidential Fleet:
The court order came amid a controversy surrounding the planned purchase of a new presidential jet for President Bola Tinubu who has had to use hired jets for official trips in recent times due to faulty presidential jets.
The health state of the Presidential Air Fleet has been source of concern of late.
In May, a faulty presidential jet stopped Vice President Kashim Shettima from attending the 2024 US-Africa Business Summit hosted by the Corporate Council on Africa.
Last December, a presidential aircraft, Falcon 900B, was put up for sale, with the Nigerian Air Force (NAF) asking interested persons to submit their bids for the purchase of the aircraft.
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JUST IN: President Tinubu set to return to Nigeria after Saint Lucia, Brazil trip

President Bola Tinubu is expected to return to Nigeria on Saturday (today) two weeks after his two-nation visit to Saint Lucia and Brazil.
The President’s spokesman, Bayo Onanuga announced this in a post on his official X handle.
Recall that Tinubu departed Abuja for Saint Lucia and Brazil on Saturday, June 28, 2025.
The President paid a state visit to Saint Lucia as part of efforts to deepen Nigeria’s engagement with Caribbean nations and strengthen South-South cooperation.
Tinubu on July 4th departed Saint Lucia for Brazil where he attend the 2025 BRICS Summit, held July 6-7, 2025.
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CBN And Bank of Industry Partner With CEAN To Stabilise Nigeria’s Creative Sector Post-COVID
For more than a decade, CEAN has played a vital role in connecting Nigeria’s informal creative workforce to structured policy, funding, and formal economic opportunities.

September 12, 2022, Lagos, Nigeria –
In a bold and strategic move to rescue Nigeria’s creative industries from the lingering economic shocks of the COVID-19 pandemic, the Central Bank of Nigeria (CBN) and the Bank of Industry (BOI) partnered with the Creative Entrepreneurs Association of Nigeria (CEAN) to design and implement a nationwide intervention targeting vulnerable creative businesses.
The collaboration, launched in mid-2022, marks a milestone in the recognition of Nigeria’s creative economy as a critical pillar of national development—and affirms CEAN’s position as a trusted stakeholder in industry policy and infrastructure development.
Responding to a Sector in Crisis
The partnership was galvanized by CEAN’s early post-pandemic white paper, “Creating Through Crisis: The Future of Nigerian Creativity Post-COVID.
It presented compelling data and policy recommendations that influenced federal strategy.
While other sectors received initial support under the government’s economic recovery plans, it was CEAN’s persistent advocacy and detailed sector mapping that brought national attention to the creative industries’ urgent needs.
CEAN’s nationwide rollout had seen the training of over 2,000 creative entrepreneurs, advisory support to more than 500 micro-businesses, and the establishment of regional Creative Recovery Hubs in Lagos, Abuja, and Enugu.
“From day one of the pandemic, we understood that Nigeria’s cultural workforce—millions strong—was at risk of collapse,” said Adebowale Ewedemi, CEAN founding executive and veteran media entrepreneur.
“We didn’t just lobby for change; we brought the tools, the structure, and the roadmap,” said Ewedemi.
From Blueprint to Implementation
The result was a landmark intervention program backed by BOI and regulated by CBN, with CEAN serving as the official implementation partner.
The program delivers targeted support to struggling sub-sectors including independent film, performance art, fashion, radio, music, design, and digital content production.
Highlights of the program include:
• Access to low-interest working capital for creative entrepreneurs
• Training grants and accelerator programs for skill development
• Support for studio and performance infrastructure
• Technical assistance for digital transformation and business retooling.
CEAN’s nationwide rollout had seen the training of over 2,000 creative entrepreneurs, advisory support to more than 500 micro-businesses, and the establishment of regional Creative Recovery Hubs in Lagos, Abuja, and Enugu.
Sustained Leadership in Nigeria’s Creative Economy
This intervention is only the latest in CEAN’s long record of national impact. During the peak of the COVID-19 lockdowns, the association served as a frontline support system—offering emergency relief, transitioning training programs online, and shaping portions of the Federal Government’s Survival Fund.
For more than a decade, CEAN has played a vital role in connecting Nigeria’s informal creative workforce to structured policy, funding, and formal economic opportunities.
Through this work, the association—under Ewedemi’s leadership—has consistently introduced original models, innovative frameworks, and institutional partnerships that define sustainable creative sector governance in Africa.
Architects of a New Creative Economy
This partnership with CBN and BOI reflects a broader understanding that Nigeria’s future is tied to the creative ingenuity of its people—and that long-term development requires strategic institutions with deep insight, trust, and capacity.
“We’re proud to move beyond advocacy into implementation. This is not a moment—it’s a movement. We are helping to reshape the creative industry into a nationally recognized economic force, ”said Ewedemi.
As the creative sector continues to recover and rebuild, CEAN remains committed to ensuring that no artist, content creator, or cultural innovator is left behind.
News
President Tinubu congratulates Governor Okpebholo on Supreme Court Victory

Nigeria’s President, Bola Ahmed Tinubu has congratulated Governor Monday Okpebholo of Edo State on the affirmation of his election by the Supreme Court.
The Edo State governorship election took place in September 2024, and Governor Okpebholo was declared the winner by the Independent National Electoral Commission (INEC).
The Supreme Court, as the final arbiter, upheld the election of the governor today.
According to the press statement signed by Bayo Onanuga, Special Adviser to the President (Information & Strategy), President Tinubu encourages Governor Okpebholo to be magnanimous in victory and rally the citizens of Edo across divides towards a singular vision of advancing the state’s development.
The President advises that now that the governor has cleared the legal hurdles, it is time for him to accelerate the delivery of exceptional services and good governance to the people of Edo State, which he has already begun to do.
President Tinubu also congratulates the leadership and members of the All Progressives Congress (APC) in Edo State and calls for cohesion and dedication in effectively discharging the mandate given by the people.
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