Zhongshang Fucheng Industrial Investment Ltd, a Chinese company, has completed the repossession of a luxury airplane owned by Nigeria in Canada, as part of its ongoing expropriation of Nigerian assets worldwide.
The aircraft, a Bombardier 6000 type BD-700-1A10, was given over to Zhongshang following a recent change of custodian documentation finalized by Canadian officials in Montreal, according to sources acquainted with the situation.
This development comes after a Canadian court order earlier this year that allowed Zhongshang to confiscate the plane from Nigeria.
Despite Nigeria’s attempts to preserve ownership, Judge David Collier of the Superior Court of Quebec rejected the country’s arguments on March 21, 2024.
The jet, purchased for $57 million by fugitive Dan Etete with proceeds from the controversial OPL 245 oil field sale, had been seized by Nigeria in 2016 and was held in Dubai before being flown to Canada in 2020.
Zhongshang’s seizure of the aircraft is part of its broader efforts to enforce arbitration awards amounting to over $70 million against Nigeria, following a failed free trade zone contract in Ogun State. The Chinese firm has already seized Nigerian assets in the UK, France, and Canada, with further confiscations anticipated in Belgium and the United States.
Despite Nigeria’s repeated legal challenges across five countries, the nation has been unsuccessful in preventing these seizures and continues to deny any wrongdoing in the case. Meanwhile, efforts to resolve the dispute through negotiations with Zhongshang have made little progress. The latest development has not yet been addressed by President Bola Tinubu’s administration.
