Former Governor Ibikunle Amosun of Ogun State has revealed that he was deceived into handing over the Ogun-Guandong Free Trade Zone to a Chinese investment group, Zhongfu International Investment Ltd, in 2012.
Amosun admitted that he didn’t conduct a thorough assessment of facts before appointing Zhongfu as interim managers, leading to a protracted legal crisis that now threatens Nigeria’s assets abroad, according to Peoples Gazette.
The free trade zone was initially conceived in 2007 between Ogun State and Guangdong Xinguang International China Africa Investment Ltd (China Africa) to facilitate trade between Nigeria and China.
Amosun’s decision to appoint Zhongfu as interim managers was based on false information, which was later discovered to be a ploy to de-market China Africa and surreptitiously acquire the zone’s ownership and management rights.
The Chinese government later intervened, revealing that Zhongfu’s claims were false, and the company had no locus standi to appropriate Nigeria’s assets.
Amosun has urged the federal government and Ogun State to desist from entering into any resolutions that would benefit Zhongfu, citing the need to treat the matter like the P&ID case and not negotiate with the company.
“Zhongfu International Investment FXE, pretending to be a concerned and genuine tenant and Zone stakeholder, volunteered very damaging and destructive information about the official representatives of Guangdong Province, the Joint Venturer and lawful Zone Managers, China Africa Investment FXE and subsequently requested to be appointed as Interim Zone Managers.
“Based on the information at the government’s disposal at the time, Zhongfu International Investment FXE was appointed interim zone manager on March 15, 2012, pending further evaluation. The whole idea was to ensure that someone was in charge and thereby prevent unwholesome and untoward development in the zone pending the completion of our fact-finding exercise.
“It was later discovered that the information and claims volunteered by Zhongfu International Investment FXE against China Africa Investment FXE were tissues of lies.
“Unknown to Ogun government at the time, Zhongfu International Investment FXE merely sought to de-market China Africa Investment FXE and to surreptitiously covert the state-owned assets of Guangdong Province in China together with the zone ownership and management rights of their business rival,” Mr Amosun said.
“It was further discovered – much later – through the intervention of the Chinese Government via Diplomatic Note 1601, dated March 11, 2016,” Mr Amosun said, saying the Chinese government told him the company he had terminated was the rightful owner of the investment.
“Nigeria should not give Zhongfu International Investment FXE any listening ear as doing so would amount to indulging and, encouraging an unlawful entity without locus standi to appropriate our common patrimon,” Mr Amosun said. “This matter of Zhongfu International Investment FXE should be treated the way Nigeria treated the P&ID case. There is no basis for negotiation,” he added.
