The ongoing dispute between Chinese investor, Zhongshang Fucheng and Ogun State, has reached another level, as the company is set to put out for sale two of Nigerian guest houses in Liverpool.
The firm said the state violated a 2001 crude treaty between Nigeria and China when it’s right to a free trade zone were rescinded in 2016.
As a result, the company has dragged Nigeria before the arbitration panel in the United Kingdom, UK, in 2018, alleging that Nigeria allowed it’s federal organs like the Police, Immigration, and export processing authority to be deployed by Ogun State without due process.
According to a consultant working with the Chinese firm, said the company has been working to put the two guests house in Liverpool for sale, including on ebay, where the source said up to $2.2 million would be asked for both.
Even though the properties belonged to Nigeria, they were seized because they were listed as Nigerian diplomatic or consular assets.
According to source, which confirmed that those currently occupying the properties had no ties to the Nigerian mission in the UK. It was unclear when Nigeria bought the assets, but a senior judge said it’s officials had regularly rented out both places to guests.
The source also revealed that the sale won’t be done in secret because the Nigerian people deserved to know how much all recovered assets were being sold until the full amount had been recovered.
