News
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in 2007, the foreign firm signed a contract with the Ogun State government to manage a free-trade zone but the contract was revoked by the state government in 2015.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“When the contract with Ogun State was revoked in 2015, the company had only erected a perimeter fence on the land earmarked for a free trade zone,” he said.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.
News
NAFDAC : Fake Cowbell Milk in circulation
Risks include foodborne illnesses, allergic reactions, and organ damage, and in severe cases, death.
The National Agency for Food and Drug Administration and Control (NAFDAC) advises Nigerians to be vigilant and avoid purchasing counterfeit 12g Cowbell “Our Milk” sachets circulating across the country.
In a statement issued on Friday, the agency explained that the counterfeit product imitates the discontinued Cowbell “Our Milk” packaging, which Promasidor Nigeria Ltd stopped producing in September 2023.
The legitimate product was replaced with Cowbell “Our Creamy Goodness.”
The fake sachets unlawfully bear the Cowbell brand name, NAFDAC registration number and packaging design, despite not being manufactured or distributed by Promasidor.
The counterfeit products currently in circulation are imitations of the discontinued ‘Our Milk’ packaging and are not manufactured or distributed by Promasidor,” the agency stated.
“They bear unauthorised use of the brand name, NAFDAC Registration Number, and packaging design.”
The regulator raised concerns over the health risks posed by the counterfeit product.
“Risk Statement: Consumption of counterfeit milk poses serious health hazards, including exposure to toxic chemicals, unapproved additives, or diluted ingredients.
Risks include foodborne illnesses, allergic reactions, and organ damage, and in severe cases, death.
Infants, children, pregnant women, and the elderly are particularly vulnerable,” NAFDAC warned.
News
Japan designates the city of Kisarazu for Nigerians to live and work
Through this arrangement, we aim to strengthen exchanges and create a foundation for manpower development that will contribute to economic growth in both Japan and Nigeria,” said Mrs. Florence Akinyemi Adeseke, Nigeria’s Charge d’Affaires and Acting Ambassador to Japan.
The Japanese government has designated the city of Kisarazu as the official “hometown” for Nigerians seeking to live and work in Japan
Japan also unveiled similar hometown designations for Tanzania, Ghana, and Mozambique in Nagai, Sanjo, and Imabari, respectively.
The announcement was made on the sidelines of the 9th Tokyo International Conference for African Development (TICAD9), a move aimed at deepening cultural diplomacy, promoting economic growth, and enhancing workforce productivity.
Under the new arrangement, the Japanese government will introduce a special visa category for highly skilled, innovative, and talented Nigerian youth. Artisans and other blue-collar workers willing to upskill will also be eligible to live and work in Kisarazu under the special visa dispensation.
“Through this arrangement, we aim to strengthen exchanges and create a foundation for manpower development that will contribute to economic growth in both Japan and Nigeria,” said Mrs. Florence Akinyemi Adeseke, Nigeria’s Charge d’Affaires and Acting Ambassador to Japan.
The designation of Kisarazu builds on historical ties between Nigeria and the city.
The Nigerian Olympic contingent trained in Kisarazu during preparations for the 2020 Tokyo Olympics, where athletes acclimatised before moving to the Olympic Village.
Mayor Yoshikuni Watanabe of Kisarazu, who received the certificate from the Japanese government alongside Mrs. Adeseke, expressed optimism that the initiative would boost the city’s population and contribute to regional revitalisation efforts.
The three tiers of government—federal, state, and local—shared a total of N2.001 trillion from the Federation Account as revenue for the month of July 2025, according to the Federation Account Allocation Committee (FAAC).
The allocation was made during the FAAC meeting held in August 2025 in Abuja, with details released in an official communiqué.
The distributable revenue included:
- N1.282 trillion in statutory revenue
- N640.610 billion from Value Added Tax (VAT)
- N37.601 billion from Electronic Money Transfer Levy (EMTL)
- N39.745 billion from exchange rate difference
Out of the total distributed funds:
- The Federal Government received N735.081 billion
- State Governments received N660.349 billion
- Local Government Councils received N485.039 billion
- N120.359 billion was shared to oil-producing states as 13% derivation revenue
Revenue Breakdown:
Statutory Revenue (N1.282 trillion):
- FG: N613.805 billion
- States: N311.330 billion
- LGs: N240.023 billion
- 13% Derivation: N117.714 billion
VAT (N640.610 billion):
- FG: N96.092 billion
- States: N320.305 billion
- LGs: N224.214 billion
EMTL (N37.601 billion):
- FG: N5.640 billion
- States: N18.801 billion
- LGs: N13.160 billion
Exchange Gains (N39.745 billion):
- FG: N19.544 billion
- States: N9.913 billion
- LGs: N7.643 billion
- 13% Derivation: N2.643 billion
The total gross revenue for July was N3.836 trillion, down from N3.485 trillion in June. Cost of collection deductions amounted to N152.681 billion, while N1.683 trillion was allocated for transfers, refunds, savings, and interventions.
FAAC noted improved collections from Petroleum Profit Tax, Oil and Gas Royalties, EMTL, and Excise Duties, while Companies Income Tax and CET Levies declined slightly. VAT and Import Duties saw marginal growth.
The committee reiterated its commitment to ensuring transparency in the allocation of national revenues across all levels of government.
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