News

Again, Chinese investors impound another Nigerian jet in Canada

Published

3 months ago

August 22, 2024

By Kayode Sanni-Arewa

Chinese firm on a confiscation blitz of Nigerian assets has finalised repossession of a luxury jet owned by the West African country in Canada.

Zhongshang Fucheng Industrial Investment Ltd recently received a change of custodian paperwork for the Bombardier 6000 type BD-700-1A10 aircraft from Canadian authorities in Montreal, The Gazette heard from sources familiar, months after a Canadian court issued a judgement that empowered Zhongchang to seize the jet from Nigeria.

“The court granted orders for Zhongshang to seize the plane earlier this year, but the change of custody from Nigeria to Zhongshang was only recently concluded,” a person familiar with Zhongshang’s activities said anonymously to discuss the matter. “Zhongshang will not stop seizing Nigeria’s assets worldwide until the last cent of the arbitration awards has been paid.”

Judge David Collier of the Superior Court of Quebec had on March 21, 2024, quashed Nigeria’s arguments to keep ownership of the aircraft, which records showed was purchased for $57 million by fugitive Dan Etete as part of his spending binge shortly after netting over $350 million windfall from the lucrative but corrupt sale of OPL 245 oil field in 2010.

Nigeria first seized the aircraft, with tail number M-MYNA and serial number 9471, from Mr Etete in 2016 and trapped it in Dubai. Flight tracking websites showed it was then flown suddenly to Canada on May 29, 2020, where Nigeria quickly obtained a court order for seizure and held it at the main airport in Montreal. A Canadian firm, Tibit, sought to claim ownership, but Canadian courts allowed Nigeria to remain in charge of the aircraft.

In 2023, Zhongshang moved to seize the jet, which could accommodate up to 19 people, while pursuing enforcement of its arbitration awards of over $70 million against Nigeria.

Judge Collier said Nigeria failed to enter a dispute against the aircraft’s seizure by Zhongshang, declaring the country’s argument that it could not respond to the lawsuit for nine months over the February-March 2023 general elections was frivolous and unacceptable.

The judge also rejected Nigeria’s sovereign immunity claim along the lines already itemised by the arbitration panel and courts in the United Kingdom. An appellate court in the United States also recently ruled that Nigeria cannot claim sovereign immunity from Zhongshang’s recovery of its arbitration judgment.

With the Bombardier luxury aircraft now in its possession, Zhongshang has successfully seized Nigeria’s assets in the UK, France and Canada, where the country’s guest houses, presidential jets and the Etete jet have been confiscated, respectively – with potentially more seizures expected in Belgium and the U.S. in the coming weeks.

Although Nigeria has lost all its challenges against the Chinese investors in at least five countries, it has nonetheless maintained no wrongdoing in the lawsuits, which stemmed from a botched free trade zone contract in Ogun State.

Nigeria and Ogun State have disclosed ongoing efforts to resolve the matter with Zhongshang, although no headway has been recorded since the parties first met in London from September 27-29, 2023. A spokesperson for President Bola Tinubu did not immediately return a request seeking comments on the latest development. (Text, excluding headline: Peoples Gazette)

News

JUST IN: Govt Declares Friday As Public Holiday

Published

5 minutes ago

November 14, 2024

Kayode Sanni-Arewa

The Ondo State Government has declared Friday as public holiday to enable civil servants and others to travel to their various communities to exercise their civic responsibilities.

This was contained in a statement on Wednesday evening signed by O.F Ayodele, Permanent Secretary, Office of the Head of service.

The statement reads, “The 2024 Governorship Election in Ondo State has been scheduled by the Independent National Electoral Commission (INEC) to hold on Saturday, 16th November, 2024.

“To this end, the Ondo State Government has declared Friday, 15th November, 2024 as Work-Free Day for Public Servants in the State to enable them travel to their various communities to exercise their civic responsibilities.

“All Accounting Officers are to note the content of this Circular and disseminate same to all staff of their respective Ministries, Departments and Agencies.”

News

NNPC Carries Out Leadership Shakeup, Appoints Adedapo Segun As New CFO

Published

11 minutes ago

November 14, 2024

Kayode Sanni-Arewa

The Board of Directors at the Nigerian National Petroleum Company Limited (NNPC) has announced a leadership shakeup, appointing key executives to strengthen corporate governance and operational efficiency.

This was made known in a press statement issued on Wednesday by the NNPC’s Chief Corporate Communications Officer, Olufemi Soneye.

In the series of new appointments, Mr. Adedapo A. Segun has been named as Chief Financial Officer (CFO), succeeding his prior role as Executive Vice President of the Downstream sector, where he contributed significantly to NNPC’s downstream operations.

Segun replaced the outgoing CFO, Umar Ajiya.

Joining him in newly appointed roles, Mr. Isiyaku Abdullahi has been promoted to Executive Vice President (EVP), Downstream.

Udobong Ntia has also been appointed as the Executive Vice President (EVP), Upstream, replacing the outgoing EVP Oritsemeyiwa Eyesan.

The statement read, “These appointments align with NNPC Limited’s commitment to building a unified and competent leadership team to drive operational excellence and support the organisation’s strategic objectives.

“The Board and Management also extend their deepest appreciation to Mr. Umar Ajiya and Mrs. Oritsemeyiwa A. Eyesan for their outstanding dedication and service to NNPC Limited.

NNPC Limited remains committed to achieving operational excellence, enhancing global competitiveness, and ensuring financial sustainability, while prioritising the interests of the Nigerian public in the petroleum industry.”

News

1,172 Nigerians Killed, Over 1,000 Kidnapped In Nine Months – NHRC

Published

16 minutes ago

November 14, 2024

Kayode Sanni-Arewa

The National Human Rights Commission (NHRC) says a total of 1,463 people were killed by non-state actors while 1,172 Nigerians were kidnapped between January to September 2024.

According to the data from the commission, the month of May recorded the highest number of persons killed with 298 while March recorded the highest number of abductions with 499 kidnappings.

These figures were presented on Wednesday at a workshop on the state of human rights in Nigeria by the commission and the European Union, in Abuja.

In his remarks, NHRC Senior Human Rights Adviser, Hillary Ogbonna, gave a breakdown of the alarming rise in human rights abuses, including kidnappings, killings and child abandonment.

“By January 2024, we already had 150 kidnappings and 55 killings associated mainly with non-state actors. What has become the norm is the killing of law enforcement officers,” he said.

“We started with seven policemen killed in January. From victims’ perspectives, we had quite a number of victims for human rights violations for January.”

The NHRC attributed the rise in kidnappings, killings and child abandonment to the negligence of the state tom protect its citizens.

“In recent years, we have witnessed alarming trends and threats against those who dare to speak the truth to power.

“It serves as a stark reminder that the protection of human rights is an ongoing struggle that requires continuous vigilance, action and cooperation from all sectors of the society,” Tony Ojukwu, NHRC Executive Secretary said.

The delegation from the EU reiterates its commitment to support Nigeria to overcome these challenges. It also urged the Federal Government to work with the armed forces to end this trend.

“The European Union will continue to work around the world through diplomacy,” the Head of EU Delegation, Zissimos Vergos, said.