A French court has ruled in favor of Chinese company Zhongshan Fucheng Industrial Investment Co. Limited, allowing the seizure of three Nigerian presidential jets to secure a $74.5 million debt
The jets, currently undergoing maintenance in France and Switzerland, will be held until the debt is paid.
According to Channels news, the dispute stems from a 2007 contract between Zhongshan and the Ogun State government, which was revoked in 2015.
An arbitration tribunal ruled in favor of Zhongshan, awarding compensation.
Nigeria has appealed the decision in multiple jurisdictions, including the UK and US.
The Nigerian government claims it has no contractual obligations with Zhongshan, stating the case is between the company and Ogun State government.
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