Former Ogun State Governor, Ibikunle Amosun, has revealed that he was misled into transferring control of the state’s multibillion-naira free trade zone to a dubious group of Chinese investors. This revelation adds a new dimension to ongoing legal disputes that could further jeopardize Nigeria’s assets abroad.
In a statement released on Saturday, Amosun, who served as governor from 2011 to 2019, admitted that he failed to properly investigate before authorizing a Chinese firm to take control of the Ogun-Guangdong Free Trade Zone in 2012. His decision has since triggered a legal crisis, resulting in the seizure of three Nigerian presidential jets by a French court, as disgruntled Chinese investors seek to claim Nigeria’s overseas assets.
The Ogun-Guangdong Free Trade Zone, established in 2007 under then-Governor Gbenga Daniel, was a joint venture with Guangdong Xinguang International China Africa Investment Ltd (China Africa) aimed at fostering seamless trade between Nigeria and China in Igbesa, Ogun State. China Africa, the major stakeholder with 60% ownership, was developing the 10,000-hectare facility until 2012, when a rival firm, Zhongfu International Investment Ltd, alleged mismanagement of the zone and offered to take over its administration.
In his statement, Amosun acknowledged that he hastily appointed Zhongfu as interim managers without thoroughly verifying the allegations against the original managers, China Africa. “Zhongfu International Investment FXE, posing as a concerned and genuine tenant and stakeholder of the zone, provided very damaging and destructive information about the official representatives of Guangdong Province, the joint venture partner and lawful zone managers, China Africa Investment FXE, and subsequently requested to be appointed as interim zone managers,” Amosun confessed.
This controversial decision has had serious repercussions, significantly contributing to the ongoing international legal challenges Nigeria now faces.
By Ebubedike Ochu
