Former Governor Ibikunle Amosun revealed on Saturday that he was misled into transferring control of a multibillion-naira free trade facility in Ogun State to a questionable Chinese investment group. This disclosure adds a troubling layer to the ongoing legal battles that could result in the loss of Nigeria’s assets abroad.
Mr. Amosun, who served as the governor of Ogun State from 2011 to 2019, confessed in a personally signed statement that he failed to conduct even a basic review before granting control of the Ogun-Guandong Free Trade Zone to a Chinese team in 2012. This decision triggered a long-lasting legal conflict that has recently led disgruntled Chinese investors to target Nigeria’s assets in Europe and the United States.
The free trade zone was initially established in 2007 through a partnership between Ogun State, under then-Governor Gbenga Daniel, and Guangdong Xinguang International China Africa Investment Ltd (China Africa).
The zone was intended to facilitate seamless trade between Nigeria and China in Igbesa, Ogun State. China Africa, which held a 60 percent stake in the project, was developing the 10,000-hectare facility when, in 2012, just a year after Mr. Amosun took office, a different company named Zhongfu International Investment Ltd presented itself.
Zhongfu claimed that the zone was being mismanaged and sought permission to take over its administration.
In his statement, Mr. Amosun explained that he allowed Zhongfu to assume the role of interim managers of the trade zone, pending a proper investigation of their allegations.
He stated: “Zhongfu International Investment FXE, pretending to be a concerned and genuine tenant and Zone stakeholder, provided very damaging and misleading 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 available at the time, Zhongfu International Investment FXE was appointed interim zone manager on March 15, 2012, pending further evaluation. The intent was to ensure that the zone was under management and to prevent any detrimental developments until our fact-finding exercise was completed.”
However, Mr. Amosun later discovered that the claims made by Zhongfu were entirely false. “Unknown to the Ogun government at the time, Zhongfu International Investment FXE merely sought to undermine China Africa Investment FXE and to covertly seize the state-owned assets of Guangdong Province, as well as the ownership and management rights of their business rival,” he said.
The former governor added that the Chinese government intervened directly, informing him through Diplomatic Note 1601, dated March 11, 2016, that the company he had removed was the legitimate owner of the investment. Following this realization, Mr. Amosun said he removed Zhongfu International Investment from the zone. Zhongfu then pursued legal action in various Nigerian courts but lost all four cases, though Mr. Amosun did not specify the details of these cases.
Mr. Amosun urged the federal government and Ogun State to avoid any resolutions that could benefit Zhongfu, stating, “Nigeria should not give Zhongfu International Investment FXE any consideration, as doing so would amount to endorsing an unlawful entity without the legal standing to appropriate our common patrimony. This matter should be treated with the same seriousness as the P&ID case. There is no basis for negotiation.”
The former governor has recently faced criticism for his role in Nigeria’s ongoing disputes with Chinese investors before international arbitration panels. The Chinese have attempted to seize private jets used by President Bola Tinubu in France as part of their efforts to claim compensation. On August 9, a U.S. appellate judicial panel granted permission to Zhongfu’s parent company, Zhongshan, to continue its legal pursuit of Nigeria’s assets in the United States. Zhongshan had obtained a $60 million compensation judgment in the United Kingdom in 2021 and has since been trying to enforce it in France, the U.S., and other countries where Nigerian assets could be targeted.
