China again….they took some federal properties in the UK, and now aircraft: “The Nigerian government is embroiled in a deepening legal crisis following the seizure of three of its aircraft by French authorities, marking a new chapter in a long-standing legal dispute with Zhongshan, a Chinese company. The seizure, involving a Dassault Falcon 7X, a Boeing 737, and a newly acquired Airbus A330 valued at over $100 million, has drawn widespread attention and triggered reactions from both federal and Ogun State governments.”
Sometimes you actually pity these politicians. One regime can create problems for the next one. Imagine if Mr. President cannot have his new aircraft because of what Ogun State civil servants did. And from the federal government angle, this is another P&ID where international firms play bad games.
“The material facts in the transaction between the Ogun State Government and Zhongshan point to another P&ID case in which unscrupulous and questionable individuals falsely present themselves as investors with the sole objective of undercutting and scamming Governments in Africa” – Nigerian government.
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“Sovereign guarantee” clause is a powerful clause in global business. As Nigeria offers that to states, it must understand the implications. No Chinese firm will do anything for you without asking for Sovereign guarantee. This is where we are united. They can even go for our bank accounts in New York, London, etc.
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