Zhongshang Fucheng Industrial Investment Ltd, a Chinese firm, has taken possession of a luxury jet owned by the Nigerian government in Canada. The Bombardier 6000 BD-700-1A10, valued at $57 million, was repossessed in Montreal following a court ruling in favor of Zhongshang.
Sources indicate that the paperwork for the transfer of custody was recently finalized, months after the Canadian court granted Zhongshang permission to seize the aircraft.
“The court’s order for Zhongshang to take control of the plane was issued earlier this year, but the formal transfer from Nigeria to Zhongshang has only just been completed,” a source close to the matter said.
The company has pledged to continue claiming Nigerian assets globally until the full amount of arbitration awards is settled.
“The seizure of Nigeria’s assets worldwide will persist until all arbitration awards are fully paid,” the source added.
Originally purchased by fugitive Dan Etete, who profited over $350 million from the corrupt sale of the OPL 245 oil field in 2010, the jet was seized by Nigeria in 2016. It was held in Dubai before being moved to Canada in 2020, where it was placed under a court order at Montreal’s main airport.
In 2023, Zhongshang pursued the seizure as part of its enforcement of over $70 million in arbitration awards against Nigeria. Quebec Superior Court Judge David Collier ruled in favor of Zhongshang, dismissing Nigeria’s claims of sovereign immunity.
This seizure is the latest in a series of asset claims by Zhongshang across multiple countries, including the UK, France, and Canada. Despite failing to overturn the seizures in several countries, Nigeria insists it has acted properly, claiming the disputes originate from a mismanaged free trade zone contract in Ogun State.
