In a recent development, a Chinese company, Zhongshan Fucheng Industrial Investment Ltd, has reportedly taken possession of a luxury jet owned by Nigeria in Canada.
This move comes as part of the company’s efforts to recover up to $70 million in arbitration awards from the West African nation.
The aircraft, a Bombardier 6000 type BD-700-1A10, was officially transferred to Zhongshan Fucheng after Canadian authorities in Montreal processed the change of custodian paperwork.
The seizure follows a court judgment issued by the Superior Court of Quebec earlier this year, which dismissed Nigeria’s claims to retain ownership of the aircraft.
The court’s decision, delivered by Judge David Collier on March 21, 2024, marked a significant blow to Nigeria’s attempts to maintain control over the asset.
The jet, which was originally purchased for $57 million by Dan Etete, a fugitive involved in the controversial sale of the OPL 245 oil field, has a history of international entanglements.
After being seized by Nigeria in 2016 and held in Dubai, the aircraft was unexpectedly flown to Canada on May 29, 2020, where it was subsequently detained under a court order.
This latest repossession is part of a broader strategy by Zhongshan Fucheng to seize Nigerian assets globally.
The company has already confiscated Nigeria’s guest houses in Liverpool, United Kingdom, and is reportedly preparing for further seizures in Belgium and the United States.
A source familiar with the matter stated, “Zhongshang will not stop seizing Nigeria’s assets worldwide until the last cent of the arbitration awards has been paid.” With assets already seized in the UK, France, and Canada, Nigeria faces increasing pressure to settle its financial obligations.
The ongoing legal and financial battles highlight the complex and costly aftermath of Nigeria’s involvement in the OPL 245 oil deal, with potential further repercussions on the horizon as Zhongshan Fucheng continues its global asset recovery campaign.
