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Tag: chinese firm

  • Nigeria to appeal $25m judgment in favour of Chinese firm

    Nigeria to appeal $25m judgment in favour of Chinese firm

    The Federal Government has said it will appeal a recent judgment by the British Virgin Islands High Court, which granted a Chinese company, Zhongshan Fucheng Industrial Investment Company Limited, the right to seize $25 million from Nigeria’s foreign assets.

    The company had sought relief over a failed trade zone agreement it signed with Ogun State under former Governor Ibikunle Amosun’s administration.

    “This is not a judgment that will be enforced immediately.

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    “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,” the Special Adviser to the President on Policy Communications, Daniel Bwala, said in a statement yesterday in Abuja.   The dispute stemmed from a 2010 agreement in which Zhongshan secured the rights to develop a free trade zone in Ogun State.

    But the project was terminated by the state government in 2016, propelling Zhongshan to initiate an investment treaty arbitration under the bilateral investment treaty between China and Nigeria.

    The arbitration tribunal ruled in favour of Zhongshan, awarding the company approximately $70 million in compensation. Nigeria argued for state immunity, but its defence was rejected by the United Kingdom (UK) courts.

    Bwala added: “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.”

  • Presidential jet seizure: We didn’t revoke contract with Chinese firm, says ex-Gov Amosun

    Presidential jet seizure: We didn’t revoke contract with Chinese firm, says ex-Gov Amosun

    • Calls aggrieved company impostor

    • My story, by former Gov Daniel

    Former governor of Ogun State, Senator  Ibikunle Amosun, yesterday denied allegations that his administration revoked any contract with any Chinese firm that could have warranted the seizure of three presidential jets by anyone.

    Amosun said in a statement that the issue in dispute was strictly between two Chinese companies,  and has nothing to do with the Federal or Ogun State government.

    He said that contrary to the views being canvassed in some quarters, the agreement that was entered into at the inception of the Ogun State Zone in 2007 with the Gbenga Daniel administration  “ is what is still in operation and there was no need for any negotiation or re-negotiation of any contract when we came in and throughout our eight  years tenure.”

    Senator Daniel in a separate statement on the matter yesterday said “there are so many incorrect reports and misrepresentation of facts” on the matter  and said “ It is not time to play politics with the assets and integrity of our dear country.”

    Narrating his own side of the story,Amosun said:“Our administration assumed office on 29 May, 2011. Very shortly after we took office, two different sets of Chinese companies, Messrs China Africa Investment FXE and Zhongfu International Investment FXE laid claims to management rights over the Ogun Guangdong Free Trade Zone (OGFTZ).

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    “The business dispute and rivalry between the Chinese concerns soon became fierce, grounded seamless business activities and threatened public peace and safety within the Zone and neighbouring communities.

    “There were claims and counter claims as to who between the two, was the lawful representative of the original joint venturer, Guangdong Province, China and consequentially who had the right to manage the Zone.

    “Zhongfu International Investment FXE, pretending to be a concerned and genuine tenant and Zone stakeholder volunteered very damaging and destructive 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 at the disposal of the Government at the time, Zhongfu International Investment FXE was on 15/03/2012 appointed as Interim Zone Manager pending further evaluation.

    “The whole idea was to ensure that someone was in charge and thereby prevent unwholesome and untoward development in the Zone pending the completion of our fact finding exercise.

    “It was later discovered that the information and claims volunteered by Zhongfu International Investment FXE against China Africa Investment FXE were tissues of lies.

    “Unknown to Ogun Government at the time, Zhongfu International Investment FXE merely sought to de-market China Africa Investment FXE and to surreptitiously covert the State-owned assets of Guangdong Province in China together with the Zone ownership and management rights of their business rival.

    “It was further discovered – much later – through the intervention of the Chinese Government via Diplomatic Note 1601, dated 11 March, 2016.

    “The Government of the People’s Republic of China, via its Diplomatic Note 1601 dated 11th March, 2016 clarified to the Ogun State Government that China Africa Investment FXE was the rightful investor. After due consultation with the relevant organs of Government, we gave effect to the request of the Chinese Government.

    “We do recall that Zhongfu International Investment FXE approached Nigerian courts in different jurisdictions to ventilate its legal and business rights. They lost all their four cases in court.

    “We also consulted with and took advice from the State Security Services and the supervising Agency, NEPZA, on the best way to proceed. “Accordingly, we served Zhongfu International Investment FXE with a formal Termination Notice dated 27 May, 2016.

    “For completeness of records, we must mention that Zhongfu International Investment FXE proceeded to Court.

    “Among others, the proceedings in Suit No HCT/417/2016: Zhongfu International Investment FXE Vs OGFTZ and, FCT/ABJ/CS/601/2016: Zhongfu International Investment FXE Vs NEPZA & Ors will help to throw light on this business dispute between two Chinese entities- Zhongfu and China Africa.

    “The final judgement in one other case, Suit No AB/04/2017: Zenith Global Merchant International Investment Ltd Vs Zhongfu International Investment FXE delivered on 29/3/2017 specifically restrained a reference to arbitration in the special circumstances of the matter being a trade dispute between two Chinese entities- Zhongfu and China Africa, with little or no connection with either Ogun State or the Federal Government.

    “Not satisfied with the decisions of the various courts, Zhongfu International Investment FXE took its case, and wrote petitions at various times, to higher authorities in Abuja; the Presidency, Hon Minister of Trade & Investment; Attorney General & Minister of Justice, Inspector General of Police, EFCC and the National Assembly (both the House of Representatives and the Senate) among others.

    “We successfully defended our actions at all levels before these organs of government, and they all agreed with our position. Shortly after, our administration left office in May, 2019.

    In conclusion, without prejudice to the ongoing efforts of the Ogun State Government and the Federal Government of Nigeria, and with all sense of responsibility I wish to categorically state that:

    “The agreement that was entered into at inception of the Zone in 2007 with our predecessor is what is still in operation and there was no need for any negotiation or re-negotiation of any contract when we came in and throughout our eight (8) years tenure.

    “It is also not true that our administration sent police or any security agent to harass, intimidate, or beat anyone. If there was any such situation, it must have been from among the disputing rivals in the bid to outdo one another.  Security agencies can further investigate the allegation and uphold the truth.

    “Nigeria should not give Zhongfu International Investment FXE any listening ear as doing so would amount to indulging and, encouraging an unlawful entity without locus standi to appropriate our common patrimony.

    “Stemming from the above, this matter of Zhongfu International Investment FXE should be treated the way Nigeria treated the P&ID case.  There is no basis for negotiation.

    “I am ready to work with the agencies of government in any capacity to ensure that Nigeria is not scammed by Zhongfu International Investment FXE, or any other entity.

    “Like every Nigerian, we are concerned that a purely business dispute between two Chinese nationals and corporations have now degenerated into an unlawful attempt to appropriate Nigeria’s sovereign assets.

    “This is unacceptable to all people of goodwill and must not be allowed to stand.”

    Daniel: Let’s leave politics out of it

    Senator Daniel,whose administration signed the agreement with the Chinese in 2007 said the federal government should be assisted with available records to resolve the issue.

    His media office in a statement said:”We need to establish clearly that Otunba Gbenga Daniel, or his administration is not in discussion on the matter before the courts and arbitration, neither were the terms or proprietary of the Agreement for the establishment of the FTZ, rather it is the termination of a Management Contract. The judgements in all the courts are very clear on this.

    “It is also important to note that this is a very sensitive matter involving our collective National Assets and Commonwealth which every patriotic Nigerian should feel concerned about. And as a Patriotic elderstatesman who has had the privilege of serving Ogun State as the Governor through which he was able to bring about several developmental projects including the establishment of the Ogun/Guangdong Free Trade Zone and others, and through which he has impacted on the lives of many citizens, also as a serving Senator of the Federal Republic of Nigeria, it is this patriotic path he chooses to thread.

    “ Rather than engaging on media comments, the most reasonable course of action that the Senator Otunba Gbenga Daniel would rather engage in is helping Nigeria, through the President and Commander-in-Chief, Asiwaju Bola Ahmed Tinubu to finding a diplomatic solution to the issue at hand with available records that could assist the Federal Government in pursuing its course at the arbitration and before the courts. He cannot do this on the pages of the newspapers and on other media which may also compromise the strength of Nigeria’s arguments in the courts.

    “We need to also appreciate that this matter is before various courts in several countries and it is subjudice for anyone to speak on them.

    “However, let us emphasise once again that the Ogun/Guangdong Free Trade Zone project still exists and several Nigerians are working there as we write, just as there are several companies still doing their legitimate businesses. It is from this perspective of development that the efforts of Otunba Gbenga Daniel should be well appreciated.

    “At the time of his handover in 2011, about 56 companies were at various stages of operations, construction and showing interests in the Free Trade Zone and through which various life impacting developments (including but not limited to the construction of roads, schools for the local community, scholarship and sponsorship of many Nigerians for academic pursuit etc) have taken place in the Igbesa area, which was an otherwise rural community before the establishment of the Free Trade Zone.

    “ There are so many incorrect reports and misrepresentation of facts on Timelines of activities relating to the establishment and Operations of the Free Trade Zone in circulation especially on the social media, and we plead that the media should partner with the Nigerian government in finding a very productive solution to this matter in Nigeria’s interest. It is not time to play politics with the assets and integrity of our dear country.

    “We sincerely appreciate all efforts at reaching out for Otunba Daniel’s side of the story as we also seek the understanding of all those who called to appreciate his sturdy silence to be able to assist the President on the way out of this testy time and situation.”

    Zhongshan Fucheng Industrial Investment Co. Limited  impounded the jets last week on the strength of the ruling of an arbitration panel in Paris that  Nigeria was in breach of its obligations under the China-Nigeria BIT.

    The panel  awarded Zhongshan $74.5 million as compensation and confiscated  three Nigerian presidential jets until it (Zhongshan) receives the compensation.

    However,the company said on Friday that it had released one of the aircraft.

    On the same day Foreign Affairs Minister, Yusuf Tuggar, said  in Malabo, Equatorial Guinea, that he was working with the Attorney General of the Federation and Justice Minister Lateef Fagbemi (SAN) to resolve the issue in dispute.

    The federal government had accused the Chinese company of using  “subterfuge” and “arm-twisting tactics”   to make Nigeria lose some of its  ”national assets” abroad.

    “The Federal Government is not under any contractual obligation with the company. The case in which Zhongshan is trying to use every unorthodox means to strip our offshore assets is between the company and the Ogun State Government,”Special Adviser to the President on Information and Strategy, Bayo Onanuga said in a statement on Thursday.

    He said: “It must be said without any equivocation that Zhongshan has no solid ground to demand restitution from the Ogun State Government based on the facts regarding the 2007 contract between the company and the State Government to manage a free-trade zone.

  • Alleged N1.217b tax fraud: Fed Govt files charges against Chinese firm, directors

    Alleged N1.217b tax fraud: Fed Govt files charges against Chinese firm, directors

    • Commission arraigns ex-court Registrar for N3.8m

    The Federal Government has begun criminal proceedings against a Chinese firm – SSL Industry Company Limited – its Managing Director, Liu Qiang; a director, Shi Shual; and a Nigerian accountant, Babatunde Ayeni, for alleged tax fraud.

    In a four-count charge filed by the EFCC, SSL Industry, Qiang, Shual and Ayeni were alleged to have evaded the payment of the Value Added Tax (VAT) estimated at N1,217,789,058 by falsifying audited account statements/income tax returns.

    At the mention of the case yesterday, lawyer to the EFCC, Chiamaka Njoku, said her client was still exploring moves to apprehend the defendants.

    She prayed the court for an adjournment till a later date, a request Justice Inyang Ekwo said he was uncomfortable with.

    The judge averred that the prosecution gave a similar excuse when the case last came up.

    He gave the prosecution the last chance to produce the defendants in court, failing which he threatened to give the appropriate order as prescribed by the law.

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    Justice Ekwo asked Njoku to suggest a date that would be sufficient to enable the EFCC produce the defendants in court and the lawyer suggested October 22, which the judge adopted.

    Also, the EFCC yesterday arraigned a former Registrar of the Upper Sharia Court 1 in Gusau, Zamfara State, Abubakar Garba Dandare, on a two-count of allegedly stealing N3,837,634, according to the Sokoto Zonal Directorate office of the commission.

    He was arraigned before Justice Bello Muhammad Shinkafi of the Zamfara State High Court.

    The anti-graft commission said a petitioner alleged that Dandare misappropriated the money, being the retention fee paid by the Zamfara State Ministry of Finance to the family of the late Alhaji Ladan Mada, who was a contractor to the state government.

    Mada, who died May 13, 2010, got a contract to build two student hostels at the Government College at Talata Mafara.

    The family’s heirs had reportedly approached the registrar to know why the retention money was not disbursed to the family and the Registrar denied knowledge of the money.

    The Grand Khadi of Zamfara State, Dr. Dahiru Muhammad, constituted a committee in 2022 to investigate the matter and it was established that a bank cheque that was counter-signed by a judge, Almustapha Balarabe, and Dandare was given to Nasir Lawal (a court clerk) to withdraw the money, which was confirmed to have been given to Dandare.

    Forensic investigations revealed that the purported signature of Aminu Ladan Mada, which Dandare presented, was forged.

    Before taking his plea, defence counsel, Bello Umar, drew attention of the court that the charge for which the suspect was arraigned were defective.

    But the prosecution counsel, P. A. Attah, cited the Court of Appeal decisions along with the ACJA 2015 to counter the claim.

    Justice Mohammad Shinkafi granted the accused bail with two sureties for N5 million each.

    The judge also directed that each of the sureties must deposit a certificate of landed property within Gusau Metropolis and deposit a passport photograph with the court.

    He said the accused be remanded in the custody of the Nigeria Correctional Services pending the fulfilment of the bail conditions and adjourned the matter till June 6 for trial.

  • Chinese firm to float fibre cement plant in Nigeria

    A Chinese building materials company Sinoria FABCOM, has announced plans to float a fiber cement board manufacturing factory in Abuja.

    Deputy General Manager of Sinoria FABCOM, Mr. Jackie Dai Hui made this known to journalists in Abuja.

    He also noted that a few years from now many companies in China will find it cheaper to set up factories in the country, because of its huge market potentials which can also become the base for servicing the rest of the African markets.

    According to him, “Nigeria has all it takes, the raw materials are there and skilled manpower is on the rise, it is only a question of time and I believe this would be very soon, our company Sinoria FABCOM want to be part of the industrial growth and development of Nigeria and that is why we are reinvesting our profit in the new factory rather than taking it back to China.”

    Sinoria FABCOM is part of the Chinese global giant, CNBM, a Fortune 500 company rated number one globally in the manufacture of building materials, already has an industrial complex in Kuje Abuja where it set up four years ago for the manufacturing of stone coated roofing sheet.

    Jacke Dai Hui said that Sinoria FABCOM wants “to use its building materials expertise to help Nigeria solve the problem of its housing need by providing quality but affordable building materials to the Nigerian housing sector.”

  • Buhari to commission Baro River Port

    President Mohammadu Buhari GCFR will on Saturday, inaugurate the just completed Baro River Port in Niger State.

    The river port project which was undertaken by the Chinese firm, CGCC Global Project Nigeria Limited, at the cost of N6 billion, is equipped with a mobile harbour crane, a transit shed, an administrative block, fire hydrant system, water treatment plant, reach stacker, 100KVA power generating set and three forklifts of various tonnages, among others.

    The General Manager, Corporate Affairs, National Inland Waterways (NIWA), Tayo Fadile, in a statement issued in Lokoja, Kogi State, said that the Baro River Port is among those built to support the dredging of the Lower River Niger project.

    “The Onitsha River Port has already been rehabilitated, while Oguta and Lokoja River Ports are nearing completion,” he added.

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    According to him, the Baro River Port, will aside helping to keep off the road several heavy duty trailers and trucks, thereby extending the life span of our roads, is expected to create at least two thousand direct jobs and hundreds of thousands indirect jobs.

    “During the colonial era, Baro used to have a thriving river port and a railway line which were used for evacuation of farm produce and mineral resources. It was a trading point between Nigeria and neighbouring countries through the inland waterways transportation mode. Here is hope that the old rail lines used in the colonial days will be revived and the road network linking the port is already being upgraded,” he said.

  • Chinese firm to fund 85% of $2.8b AKK pipeline

    China National Petroleum Corporation CNPC) is to fund 85 per cent financing  of the $2.8billion  Ajaokuta-Kaduna-Kano (AKK) pipeline.

    The boost for the project was revealed yesterday during a high-level meeting between the Nigerian National Petroleum Corporation (NNPC) and the CNPC Management held on the sidelines of the Forum on China-Africa Cooperation (FOCAC) Summit in Beijing, China.

    The company gave the assurance to the NNPC’s Group Managing Director, Dr. Maikanti Baru, according  to a statement issued by the Group General Manager, Group Public Affairs Division, Ndu Ughamadu, yesterday.

    The AKK gas pipeline would enable connectivity between the East, West and North that is currently non-existent. It would also enable gas supply and utilisation to key commercial centres in the Northern corridor of Nigeria with the attendant positive spin-off on power generation and industrial growth.

    The funding for the 40-inch x 614km AKK gas pipeline is expected to cost about $2.8bn, described as the single biggest gas pipeline in the history of oil and gas operations in Nigeria.

    While 85 per cent of the money is expected to be supplied by the financiers including the Industrial and Commercial Bank of China (ICBC), Bank of China, and Infrastructure Bank of China with Sinosure, China’s Export Credit Agency (ECA), is to provid insurance cover. The remaining 15 per cent will be provided by the contractors, which include Oilserve/Oando consortium, as well as Brentex/China Petroleum Pipeline (CPP) Bureau consortium.

    Speaking on behalf of over six CNPC subsidiaries at the meeting, the Assistant President and Board Member of the CNPC, Wang Shihong, said his compnay placed a very high premium on the AKK Project, describing it as the beginning of several collaborations between both corporations.

    “We are in full support of Nigeria’s quest to deliver the AKK project. We are working relentlessly towards securing funding for the project based on regulations and policies of Chinese financial institutions,” Shihong stated.

    Shihong, who said that the CNPC cherished its relationship with the NNPC, also pledged to fully support his company’s subsidiary, CPP Bureau, partner in the AKK Project, to ensure success of the initiative.

    Responding, Dr. Baru said the AKK Project was dear to Nigeria, adding that while at the FOCAC Summit, President Buhari reiterated the potentials of the project to strengthen Nigeria-China relations.

    He said NNPC was looking forward to a successful close-out of the project’s financing towards official groundbreaking ceremony in October, this year.

    “We want to maximize the construction work before the end of the year. We are hoping for the quick resolution of the financing agreements so that we will kick-start the project in October, when the dry season begins,” Baru added.

    Also speaking, Executive Vice Chairman of Brentex, one of the contractors handling Lot 3 of the project,  Sani Abubakar, said since signing the Engineering, Procurement & Construction (EPC) Contract, tremendous progress has been made towards securing financing for the project.

  • Police recover six Chinese firm’s stolen trucks in Oyo

    Police recover six Chinese firm’s stolen trucks in Oyo

    • 16 suspected robbers, cultists paraded

    The Oyo State Police Command has recovered six trucks, estimated at N60 million, said to have been stolen from a Chinese construction firm in Ibadan, the state capital.

    Three suspects, who were said to be behind the theft – Olaronbi Saheed (27), Abdulkareem Yusuf (35), and Ibrahim Babankuku (48) and allegedly confessed to the crime – were arrested in Kaduna by the men of the State Anti-Robbery Squad (SARS).

    Others paraded with them included a fake policewoman (an Inspector), 40-year-old mother of three, Alimat Kemi Mustapha and three other robbery suspects – Olorunkemi Abiodun (27), Abimbola Segun (22) and Taye Shittu (23).

    The police paraded them at the weekend at their Eleyele headquarters in Ibadan, the state capital.

    Addressing reporters, Police Commissioner Abiodun Odude expressed delight about the prevailing peace across in the state.

    The police chief pledged to continue to fight criminals to rid the state of evils.

    On the recovered trucks, he said: “The Special Anti-Robbery Squad of the command recently arrested an employee of George Investment Company in Ibadan for stealing six SINO trucks and a Toyota Camry car belonging to the company that were entrusted in his care. Following a petition by the Chief Executive Officer of the company on 27 November, 2017, the SARS of the command was mandated to carry out discreet investigation with a view to arresting the suspects and recovering the exhibits.

    “With this mandate, operatives of the squad began an intensive investigation, which eventually led to the arrest of the suspect and one other person in Edo State and Abuja. The six trucks were sold to a criminal receiver in Kaduna at the rate of N20 million, while the Toyota Camry was given to a yet-to-be-identified pastor in Abuja.

    “As a result of diligent investigation by the SARS, all the trucks and two other cars were recovered.”

    The leader of the gang, who allegedly stole the six trucks, Saheed Olaronbi, confessed to the crime.

    He said he was a mechanic and manager at the Chinese construction firm before he stole the trucks and sold each for N4 million.

    According to him, only N10 million was given to him as his share of the proceeds from the sale of the six trucks.

    Olaronbi pleaded for mercy, blaming the devil for his action.

    Odude thanked the Inspector-General of Police (IGP), Mr Mohammed Idris, and Governor Abiola Ajimobi for proving the tools to combat crime.

    He said  the suspects would soon be charged to court after further investigation.

  • Osun, Chinese firm sign N216b MoU on industrial park

    Osun, Chinese firm sign N216b MoU on industrial park

    The Osun State government has signed a Memorandum of Understanding ( MoU ) with a Chinese firm, Jiangsu Wuxi Taihu Cocoa Food Company Limited, to establish a N216 billion industrial park in the state.

    The signing ceremony was held at the Government House Banquet Hall in Osogbo, the capital.

    Governor Rauf Aregbesola said the state agreed to allocate 200 hectares for the industrial park.

    The governor said the partnership would support the state in six different investments; cocoa bean processing, chocolate and food processing, salt processing, cassava starch processing, gold mining and power plants.

    He added that Jiangsu Wuxi Taihu Cocoa Food Company Limited is investing $600 million in the park

    Aregbesola, who described the partnership as part of his administration’s efforts to raise the bar of local and foreign investment, noted that the agreement will support the state’s economic drive.

    Reading a copy of the agreement, the governor said the project takes off in January, promising that Osun State will support actualisation of the proposed industrial park.

    The agreement reads: “On November 28, 2017, Jangsu Wuxi Taihu Cocoa Food Company Limited held talks with the State Government of Osun, Nigeria, on the investment to establish an industrial park in Osun State.

    “Through full communication and negotiation, both sides reached resolutions which are summarised as follows: ‘The Osun Government of Nigeria agrees that Jiangsu Wuxi Taihu Cocoa Food Company Limited will invest to establish the industrial park in Osun State who will allocate 200 hectares of land for the industrial park.

    “The total investment by Jiangsu Wuxi Taihu Cocoa Food Company Limited on the industrial park is $600 million. The first phase of the project includes six projects: cocoa bean processing, chocolate and food processing, salt processing, cassava starch processing, gold mining and power plants.

    “The construction project of Jiangsu Wuxi Tiahu Industrial Park will strictly abide by the relevant laws and regulations of the State Government of Osun and Federal Republic of Nigeria.

    “The government will provide policy guidance for the construction of Jiangsu Taihu Wuxi Industrial Park and give support of energy, infrastructure and other aspects. After the completion of the project, favourable tax terms will be given.

    “The state government will set up a working group for the construction of Jiangsu Taihu Wuxi Industrial Park, which is responsible for the docking and service with China. The two sides agreed that the project will start in 2018.”

    The General Manager of Jiangsu Wuxi Taihu Cocoa Food Company Limited, Mr. Liu Jianhui, hailed Aregbesola for tapping into opportunities to develop the state’s commercial potential.

    He said the company decided to establish the project in the state, having understudied its economic potential to grow foreign investments.

    Liu Jiangsu assured the state of fruitful partnership, to create a robust bilateral economic relation between the state and the Chinese firm.

    He said: “We are bringing a huge investment into the State of Osun to complement existing investment in cocoa processing industry and support the state economically, commercially and industrially.

    “We have very strong confidence in the fact that the partnership would in no distance time bring about dividends to both parties as the state’s potential would be appropriately utilised.”

    Members of the State Executive Council (Exco) at the ceremony include Deputy Governor Mrs Grace Titilayo Laoye Tomori, Secretary to the State Government (SSG), Alhaji Moshood Olalekan Adeoti, Chief of Staff to the Governor, Alhaji Gboyega Oyetola and the Attorney-General and Commissioner for Justice, Dr. Ajibola Bashiru.

    Others are: Commissioner for Commerce, Industries and Cooperatives, Mr. Ismaila Jayeoba Alagbada and the Special Adviser to the Governor on Forestry, Natural and Mineral Resources, Mr. Stephen Babatunde Ajilore.

    The Chinese delegation included the General Manager of Jiangsu Wuxi Taihu Cocoa Food Company Limited, Mr. Liu Jianhui, Assistant General Manager, Shanghai Golden Monkey Group, Mr. Zhang Hua and representative of Nigeria Skyrun Cocoa Industrial Products Limited, Ms. Xu Feng.

  • Chinese firm to invest N10b in Osun

    Chinese firm to invest N10b in Osun

    A Chinese firm, Shanghai Golden Monkey Group, is investing N10 billion in Osun State.

    The company is investing  in cocoa processing and production.

    Chairman of the company, Mr. Qisan Zhao, spoke at the weekend when Governor Rauf Aregbesola inaugurated a five-man board for Skyrun Cocoa Processing Industry, Ede.

    Zhao said the company would provide 1,000 jobs in the next two years.

    He said his company was partnering Osun to properly harness the state’s potential in cocoa production and other agricultural produce, stressing that the company saw a prospect in the state, a knowledge.

    The chairman added that his company would buy cocoa beans in large quantity to expand its production line.

    Zhao said this would create employment, saying the company saw the possibility in accomplishing its dreams for the state.

    He said: “I represent 5,000 workers of Golden Monkey Group, in 2015 the company had an agreement to partner Osun, having decided to invest in Nigeria on cocoa production and as at today the ties have translated to positive result.

    “Our partnership with Osun has made us to see that cocoa beans in Nigeria are the best in the world, and we are ready to key into this consciously to ensure possible development of the state and Nigeria. I have confidence to invest more in Osun.

    “We are going to invest to ensure that Osun and Nigeria become the best producers of chocolate with great positive effects on the economy of Osun. We want to invest in Osun not only to boost its commercial trade and investment but to provide massive employment for the citizens.

    “For these reasons, we have resolved to invest N10 billion into the Skyrun Cocoa Product Industry, Ede, to boost the state’s capacity on commerce, industry and business.”

    Inaugurating the board for Skyrun Cocoa Processing Industry, Aregbesola said this  was part of his administration’s resolve to turn Osun into the commercial hub of Southwest and improve cocoa production and turn Osun into a hub of Chinese investment in Nigeria.

    The company was revived by the Aregbesola administration after 15 years, a development which, in the last two years, yielded positive results.

    Aregbesola, who described the inauguration as another milestone to reposition the industry and make it one of the best cocoa production outfits, said his government will ensure the success of the partnership.

    He said the decision to invest N10 billion in the company by Chinese investors marked the beginning of wealth creation and job generation in the state.

    The governor said: “With N10 billion coming to the state through the production of cocoa and other related products, Osun people is rest assured of a better life in commerce, trade and industry as our state will soon be the hub of Chinese investment in Nigeria.

    “I have been to the headquarters of Shanghai Golden Monkey Group in China and I have the confidence that with the vast industrial and commercial investment of this company, we are on the right economic track in developing our state through a productive, efficient and profitable partnership.”

    The board members are Dr. Adewale Adeeyo (chairman), Mr.  Jianhu Liu, Mr. Xie Shao, Mrs. Feng Xu (from Shanghai Golden Monkey Group and High Hope Skyrun International of Nanjing in China) and Elder George Adedeji.

  • Man demands N30m compensation from Chinese firm for losing hand

    Man demands N30m compensation from Chinese firm for losing hand

    A 24-year-old man, Destiny Igbinoba, is demanding a compensation of N30million from a Chinese firm, Yougxing Steel Company, for the loss of his left hand during an accident that occurred while he was working inside the factory.

    Destiny, whose left hand was amputated, said the accident happened last December while operating a machine and he was rushed to Mount Gilead hospital.

    He said his hand was amputated because there was no surgeon at the hospital and it took 20 hours for a surgeon to arrive.

    According to him, “I have worked there for over one year. I earn over N50,000 a month. Unfortunately, the hospital does not have a surgeon. I was only given a sort of first aid treatment until about 20 hours later when a Surgeon came.

    “The Surgeon said it has taken too long and that he could no longer save my hand. He said there was no pulse in the hand. My hand was later amputated. The company paid the bill. After the incident, the company called for compensation and I told them I need an artificial hand. The amount they offered was too meagre. Just N1.5m All effort to get them to see reasons that the money is too small have been fruitless.”

    “I have stop receiving physiotherapy treatment at the UBTH because of money. I want them to pay me N30m for me to start my life.”

    Counsel to the Chinese firm, Onioma George, said the firm agreed to provide artificial hand for the victim.

    His words, “He should approach the court. This is an issue for the court and not the press. He needs to get a lawyer to advice. He has seen the company rules and regulation and rely on Workmen Compensation Act.”

    “The company took care for him and said they will give him artificial limb.”