Presidential Jets Seizure: I Mistakenly Signed Away Ogun’s Multibillion-Naira Trade Zone to Chinese Investors, Ibikunle Amosun Confesses
Former Ogun State Governor Ibikunle Amosun has made a startling confession about his role in the controversial transfer of the Ogun-Guangdong Free Trade Zone to a Chinese investment group, a decision he now admits was based on deceptive claims.
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The former governor revealed on Saturday that he was misled into handing over control of the multibillion-naira trade facility to Zhongfu International Investment Ltd in 2012 without conducting a thorough investigation, setting the stage for a prolonged legal battle that now threatens Nigeria’s assets abroad.
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Amosun, who governed Ogun State from 2011 to 2019, issued a personal statement acknowledging that his decision to appoint Zhongfu as the interim manager of the Ogun-Guangdong Free Trade Zone was made hastily and without proper due diligence.
He admitted that the information provided by Zhongfu, which led to the removal of the original managers, Guangdong Xinguang International China Africa Investment Ltd (China Africa), was later found to be false.
The free trade zone, established in 2007 under Governor Gbenga Daniel, was intended to foster seamless trade between Nigeria and China. China Africa, which held a 60% stake, was in the process of developing the 10,000-hectare facility in Igbesa, Ogun State, when Zhongfu entered the picture.
Zhongfu claimed the zone was being poorly managed and offered to take over its administration, a proposition Amosun accepted without further inquiry.
In his statement, Amosun explained the sequence of events: “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.”
The former governor further revealed that the Chinese government intervened in the matter, clarifying through a diplomatic note that China Africa was the rightful owner of the trade zone. Despite this revelation, Zhongfu sought legal redress in Nigerian courts but failed in all four cases they filed, according to Amosun, although he did not specify the cases.
Amosun has called on both the federal government and the Ogun State government to avoid any resolutions that would favor Zhongfu, warning that engaging with the company would be akin to endorsing an unlawful entity. He compared the situation to Nigeria’s handling of the notorious P&ID case and urged a similar approach in dealing with Zhongfu.
This confession comes at a time when Nigeria is embroiled in a bitter legal dispute with Chinese investors. Zhongshan, the parent company of Zhongfu, has been pursuing compensation claims against Nigeria in international courts, with attempts to seize Nigerian assets in France, the United States, and other countries.
The conflict escalated recently when a U.S. appellate judicial panel allowed Zhongshan to continue its efforts to seize Nigeria’s assets in the country, following a $60 million judgment awarded in the United Kingdom.
Amosun’s admission has added a new layer of complexity to the ongoing legal battles and raised concerns about the potential consequences for Nigeria’s international relations and economic interests.
