The Human and Environmental Development Agenda (HEDA Resource Centre) has called on the Tinubu administration to investigate the assets and investments of former Ogun State Governor, Ibikunle Amosun. HEDA demands that Amosun be held accountable for actions that have led to Nigeria’s confrontation with Chinese investors before international arbitration panels, including recent attempts by the Chinese to seize Presidential jets linked to the government in France.
On August 9, an appellate judicial panel in the United States authorized Zhongshan, the parent company of Zhongfu, to pursue legal actions aimed at seizing Nigeria’s assets in the U.S. This development follows a 2021 judgment in the United Kingdom, awarding Zhongshan $60 million in compensation, which the company has been attempting to enforce across various countries, including France and the United States.
In a statement signed by HEDA’s Chairman, Olanrewaju Suraju, the organization stressed the need for former Governor Amosun to be held responsible for his role in the controversial Ogun-Guandong Free Trade Zone agreement, which has now escalated into a significant legal battle threatening Nigeria’s assets abroad.
“We at HEDA Resource Centre urge President Bola Ahmed Tinubu to thoroughly investigate Former Governor Ibikunle Amosun and ensure he is held accountable for his reckless handling of the Ogun-Guandong Free Trade Zone. Amosun’s actions have not only jeopardized Nigeria’s assets globally but have also introduced a new layer of complexity to an already protracted legal dispute,” the statement read.
“Meanwhile, Amosun himself has admitted in official statements that he failed to conduct a thorough assessment before handing over the management of the Ogun-Guandong Free Trade Zone to a Chinese investment group in 2012. This decision, made without proper due diligence, marked the beginning of a lengthy legal saga, which has now culminated in Chinese investors targeting Nigeria’s assets in Europe and the United States.” Suraju added.
The Ogun-Guandong Free Trade Zone was originally conceived in 2007 under Governor Gbenga Daniel, with a major investment from Guangdong Xinguang International China Africa Investment Ltd (China Africa), holding a 60% stake. However, in 2012, shortly after Amosun assumed office, a new firm, Zhongfu International Investment Ltd, alleged mismanagement and sought to take over the zone’s administration.
Amosun, in his statement, acknowledged that Zhongfu was appointed as interim manager without a proper investigation into the allegations against China-Africa. It was later revealed that Zhongfu’s claims were fabricated, aimed at undermining China-Africa and unlawfully seizing control of the zone.
Further complicating matters, the Chinese government, through diplomatic channels, informed Amosun in 2016 that Zhongfu was not the legitimate owner of the investment, prompting the former governor to terminate Zhongfu’s involvement. Despite this, Zhongfu initiated several legal actions in Nigerian courts, all of which were unsuccessful.
HEDA, therefore, urges the Federal and Ogun State governments to remain resolute in rejecting any settlement with Zhongfu International Investment Ltd, likening the situation to the P&ID case. HEDA insists that Nigeria must not entertain any negotiations with entities that lack legitimate standing, especially when national assets are at risk.
