Chinese firm, Zhongshan Fucheng Industrial Investment Co. Ltd, says it is ready for a resolution of its dispute with Nigeria.
A Paris court recently ordered the seizure of Nigeria’s assets — including three aircraft — over the contract dispute.
The court ruled that the Chinese firm should use Nigeria’s jets at the Paris-Le Bourget and Basel-Mulhouse international airports “as security for its claim of EUR 74,459,221”.
On Thursday, the federal government said the Chinese firm was deploying “unorthodox and subterfuge” means in a bid to seize the assets.
Refuting the allegations in a statement Zhongshan said it has only ever sought to assert its rights under international law and is confident in its case.
“The independent arbitral panel was found unanimously in its favour, and courts in multiple countries have upheld the view that the panel’s compensation should be enforced. The French court was fully aware of the facts when it reached its decision,” the firm said.
“Far from being just a fence, the Ogun Free Trade Zone was featured as a significant international investment by the Economist Intelligence Unit.
“Zhongshan has for a long time been ready to enter serious negotiations with the federal government of Nigeria to settle this case and still awaits an indication that the government is equally willing,” it said.
