The Ogun State House of Assembly Committee on Justice, Ethics and Public Petitions led by assemblyman Oluseun Adesanya, has directed the Management of Zama Plastics Industry FZE to return all share capitals and rights accrued to the aggrieved partner Ms Zeng Yan, who is also a chinese national and investor in the Ogun-Guandong Free Trade Zone.
The House Committee also extended an invite to the management of the Ogun-Guandong Free Trade Zone to appear before the Committee next week Tuesday, 4th March, 2025 for further interface on the matter.
This resolution was reached during a tripartite meeting at the Assembly Complex, Oke-Mosan, Abeokuta, involving all parties in the formal complaint by one of the parties, Ms. Zeng Yan on allegation of ” Threat to Investment, Breach of Agreement and Breach of Peace”, at the Ogun- Gwangdong Free Trade Zone” in the State.
The Committee Chairman alongside fellow colleagues including assemblymen Musefiu Lamidi, Damilola Soneye, Damilare Bello, Lawal Samsideen, Olusegun Odunuga, Babatunde Tella, Lukman Adeleye, Ayodele Wasiu, Lukmon Atobatele, Olakunle Sobukanla, Adegoke Adeyanju, Adeniran Ademola, Dickson Awolaja and Waliu Owode, stressed the need for a peaceful resolution of the matter between the petitioner and the respondents within five days.
Requesting the parties to attend a follow up meeting at the House of Assembly Complex on Friday 7th of March, 2025, Assemblyman Adesanya cautioned that failure to comply would result in the closure of the factories involved.
Earlier in their presentation, the petitioner and counsel to the petitioner claimed that the defendants, who were co-shareholders of Zama Plastics Industry FZE ousted her from the organisation, stripped her of her rights as chairman and barred her from subsequent entry into the industry situated on a piece of land she leased from the management of the Free Trade Zone.
This, she noted was contrary to their ‘Partners’ Investment Agreement’, just as the co- shareholders also refused to give her a definite date on when her capital stake of 38% in the company would be repaid.
The defendants according to the petitioner refused to grant the petitioners’ prayers and laid allegations of financial misconduct and refusal to provide evidence of her land lease from the Ogun-Guanngdong free trade zone.
