By Victor Oladokun
The ongoing legal battle between Nigeria and a Chinese company playing out in courts across Europe and the United States, resulting in a legally sanctioned seizure of a fleet of Nigeria’s Presidential jets, beggars belief.
I’ve followed this case closely, as I am sure many in and out of government or the business community have. And I’ve had to ask myself, “Am I missing something?”
7 QUESTIONS AND TAKEAWAYS
1. Why did the Ogun State government allegedly resort to heavy-handed extra-judicial measures against the Chinese firm in the first place?
2. Why was legal due process not strictly adhered to in Nigeria, following any valid misgivings the State Government may have had against the Chinese company, at the time?
3. On at least half a dozen instances, given the reputational and financial risks at stake, why did Nigeria not respond responsibly and swiftly to meet several international legal defence deadlines?
Most people do not know how extremely difficult it is to convince foreign investors that Nigeria is a desirable destination. This brouhaha throws a wrench in an already tortuous process.
4. It really is a mystery why Nigeria and some Nigerians would claim, 11 years after the fact, that the Chinese venture was a scam. Seriously? Were there no competent trade lawyers in Nigeria who could have read and understood the contractual small prints? I’ve chatted with some of Nigeria’s best legal minds on this matter. The bottom line, I am told, is that the “best” often never make it onto the “A Team” for a variety of understandable and not-too-understandable reasons.
5. Before Ogun State signed off on the agreement, was due diligence not adhered to? After all, Ogun State had a legal department in the office of the Governor. it also had an Attorney General and a Solicitor General in its Ministry of Justice. Not to talk of utilising Nigeria’s Intelligence Services to vet potential investors.
6. In an age where Nigeria and Nigerian sub-nationals desperately need direct foreign investment, and where millions of Nigerians are looking for a hand up, this unfortunate saga serves as a stark warning on multiple levels.
7. This is one of the reasons why the African Development Bank Group, under the leadership of Dr Akinwumi Adesina, continues to encourage African countries and sub-nationals (as in the case of Nigeria) to take advantage of its African Legal Support Facility (ALSF). This is a powerful and important instrument that has significantly saved several countries from embarrassment and lopsided bilateral trade agreements and contracts.
I wish Nigeria and the Government of Nigeria all the best.
About The Author
Dr Victor Oladokun is a Strategic Communication Consultant at Regent University School of Business and Leadership in the United States.
