Extra

Chinese investors seize Nigeria’s guest houses in Liverpool, lists for sale on eBay— Report

A Chinese investment group is set to list two residential structures it confiscated from Nigeria for sale on global online marketplace eBay.

Peoples Gazette reports that the group is racing to recover up to $70 million in arbitration awards from the West Africa country.

According to the report, Zhongshang Fucheng Industrial Investment Ltd took possession of two buildings linked to the Nigerian government in Liverpool, United Kingdom, in June 2024, years after Nigeria failed to settle an arbitration judgement handed down in 2021.

The properties, 15, Aigburth Hall Road, Liverpool and Beech Lodge, 49, Calderstones Road, Liverpool, were targeted after a December 2021 British court order gave Zhongshang executives the power to seize Nigerian assets in the UK to retrieve the $70 million payment, which remained outstanding as of August 20, 2024, with two per cent monthly interest accruals.

Zhongshang was awarded $55,675,000 plus interest of $9,400,000 and costs of £2,864,445 as of the date of the arbitration verdict on March 26, 2021, court documents said…(continue reading on next slide)

Akanji Philip

Akanji Philip has been working as a reporter with VOICE AIR MEDIA, both onsite at the head office in Odi-Olowo, Osogbo, and remotely. He has covered events at notable political venues, involving prominent figures such as former Osun Governor Adegboyega Oyetola, current Osun State Governor Senator Isiaka Adetunji Adeleke, former Vice President Professor Yemi Osinbajo, the late Ondo Governor Rotimi Akeredolu, Oyo State Governor Seyi Makinde, and various other representatives and lawmakers. In addition, he has represented the company at various press conferences at police stations and has reported on occasions featuring entertainers and actors, such as Kola Oyewo during Oba-Ile Day in Osun State, among others. -Phone Number: +2349058501092, +2348137827714 -Email: akanjiphilips100@gmail.com