Chinese investors have successfully seized a $57 million Nigerian jet in Canada, marking another chapter in the ongoing legal dispute over assets between Zhongshang Fucheng Industrial Investment Ltd. and Nigeria. Despite Nigeria’s legal challenges, Canadian courts granted Zhongshang custody of the Bombardier 6000 aircraft, highlighting the growing international tension over asset seizures.
In a continuing saga of international asset seizures, a $57 million luxury jet owned by Nigeria has been repossessed by Chinese investors, Zhongshang Fucheng Industrial Investment Ltd., in Canada. This marks the latest chapter in an ongoing legal dispute between the Nigerian government and the Chinese firm.
Zhongshang received the official change of custodian paperwork for the Bombardier 6000 type BD-700-1A10 aircraft from Canadian authorities in Montreal. This development follows a Canadian court’s ruling earlier this year, which allowed Zhongshang to seize the jet, furthering the firm’s efforts to enforce its arbitration awards against Nigeria.
The Superior Court of Quebec, under Judge David Collier, had previously dismissed Nigeria’s attempts to retain ownership of the aircraft. The Nigerian government argued that it could not respond to the lawsuit due to the February-March 2023 general elections, but the court found this reasoning “frivolous and unacceptable.”
This jet, originally purchased by fugitive Dan Etete after profiting from the sale of the OPL 245 oil field, was first seized by Nigeria in 2016 and later moved to Canada in 2020. Despite earlier successes in holding onto the aircraft, Nigeria ultimately lost this round to Zhongshang, who has now seized Nigerian assets in the UK, France, and Canada, with more expected in Belgium and the U.S.
The legal conflict originated from a dispute between Zhongshang and the Ogun State government, stemming from the state’s alleged violation of a 2001 trade treaty between Nigeria and China. Despite multiple legal challenges, Nigeria has consistently lost its cases against Zhongshang across five countries, including the United States, where courts have denied Nigeria’s claim of sovereign immunity.
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