ADVERTISEMENT
  • Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Friday, September 19, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Nigeria To Appeal $25m Judgement In Favour Of Chinese Firm

by Leadership News and Jonathan Nda-Isaiah
10 months ago
in News
Nigeria
Share on WhatsAppShare on FacebookShare on XTelegram

The federal government has announced plans to challenge a British Virgin Islands High Court ruling which allows a Chinese company, Zhongshan Fucheng Industrial Investment Co. Ltd to seize $25 million from the country’s foreign assets.

Advertisement

The judgment bordered on a dispute over a terminated trade zone agreement in Ogun State, signed during the administration of former Governor Ibikunle Amosun.

Special Adviser to the President on Policy Communications, Daniel Bwala said, “this is not a judgment that will be enforced immediately.

“The ruling serves as a warning, and until Nigeria has the opportunity to enter its defense, the judgment cannot be enforced. We still have the chance to appeal and vacate the ruling,” he added.

The case dates back to a 2010 agreement granting Zhongshan the rights to develop a free trade zone in Ogun State.

Related News

AfDB Invests $25m in TCX To Expand Local Currency Hedging in Africa

1 minute ago

UBA Records N1.608trn Gross Earnings, N335bn After-tax Profit In H1

3 minutes ago

The project was however cancelled in 2016 by the state government, prompting the company to seek arbitration under a bilateral investment treaty between China and Nigeria.

The arbitration tribunal ruled in Zhongshan’s favour, awarding approximately $70 million in compensation. Nigeria’s attempt to claim state immunity was later dismissed by UK courts.

Bwala insisted that the government remains committed to defending Nigeria’s interests.

“The Presidency remains committed to defending Nigeria’s interests.

“We will continue to examine all options and take the necessary steps to address these legal challenges, ensuring that Nigeria’s rights and assets are preserved,” he said.

Join Our WhatsApp Channel

Tags: Daniel BwalaFederal GovernmentZhongshan
SendShare10172Tweet6358Share

Other News Updates

Business

AfDB Invests $25m in TCX To Expand Local Currency Hedging in Africa

2025/09/19
Business

UBA Records N1.608trn Gross Earnings, N335bn After-tax Profit In H1

2025/09/19
News

Malami Has No Love For Kebbi State – Special Advisers

2025/09/19
News

We Are Committed To Transparency –House Of Reps

2025/09/19
News

Nigeria’s Inflation Figure Can’t Take Us To Promised Land – Adebayo

2025/09/19
News

Imo Inaugurates 135 LG Emergency Responders

2025/09/19
Leadership Conference advertisement

LATEST

AfDB Invests $25m in TCX To Expand Local Currency Hedging in Africa

UBA Records N1.608trn Gross Earnings, N335bn After-tax Profit In H1

Malami Has No Love For Kebbi State – Special Advisers

Obi Tasks Political Actors In Rivers To Embrace Peace

Group Claims Gov Sani’s Performance In Kaduna Will Stand Test Of Time

We Are Committed To Transparency –House Of Reps

Nigeria’s Inflation Figure Can’t Take Us To Promised Land – Adebayo

Fubara’s Return: ADC Wants Supreme Court To Interpret Section On Emergency Declaration

Imo Inaugurates 135 LG Emergency Responders

Communal Crisis: Obong Of Calabar Tasks Paramount Ruler On Peace Initiatives

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.