How Tinubu Can End Assets Seizure Spree By Chinese Firm – Ex-Envoy

Posted by Thandiubani on Fri 23rd Aug, 2024 - tori.ng

The diplomat spoke on Inside Sources with Laolu Akande, a sociopolitical programme aired on Channels Television on Friday.

Former Deputy Permanent Representative to the United Nations, Usman Sarki has revealed how the federal government could stop the seizure of Nigerian assets abroad by Chinese firm, Zhongshan Fucheng Industrial Investment Co. Limited.

According to Sarki, the best way is for President Bola Tinubu to meet with his Chinese counterpart Xi Jinping as soon as possible.

This way, the issues can be easily resolved.

“His Excellency, President Bola Tinubu is going to China in September, hopefully, for the China-Africa Summit,” the diplomat said on Inside Sources with Laolu Akande, a sociopolitical programme aired on Channels Television on Friday.

“I think he should have a bilateral meeting with his counterpart, Xi Jinping, to discuss this matter and see if it will be resolved amicably.

“Also, possibly, they may meet on the sidelines of the UN General Assembly in September in New York.”

Before then, Sarki said, the Minister of Foreign Affairs, Yusuf Tuggar, should exchange notes with the Minister of Justice, Lateef Fagbemi, and they should meet with the Chinese ambassador here in Nigeria to de-escalate the matter and end the “embarrassing” seizures.

A French court recently ruled in favour of the firm and granted the seizure of presidential jets belonging to the Nigerian government.

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.

But the Presidency alleged that the Chinese firm is trying “to take over offshore assets of the Federal Government of Nigeria through subterfuge”. Fagbemi later said diplomatic and legal efforts were on to settle the matter amicably.

Meanwhile, more assets have been reportedly seized by the firm on the orders of the court.