A Chinese firm engaged in a campaign to reclaim Nigerian assets has successfully repossessed a luxury jet owned by Nigeria in Canada, according to Peoples Gazette.
Zhongshang Fucheng Industrial Investment Ltd recently received the necessary change of custodian documentation for the Bombardier 6000 type BD-700-1A10 aircraft from Canadian authorities in Montreal. This comes months after a Canadian court ruled in favor of Zhongshang’s right to seize the jet from Nigeria.
“The court granted orders for Zhongshang to take possession of the plane earlier this year, but the transfer of custody from Nigeria to Zhongshang was only finalized recently,” an anonymous source familiar with Zhongshang’s operations stated.
“Zhongshang will continue to pursue the seizure of Nigeria’s assets worldwide until every cent of the arbitration award has been paid.”
Judge David Collier of the Superior Court of Quebec ruled on March 21, 2024, against Nigeria’s attempts to retain ownership of the aircraft, which was purchased for $57 million by fugitive Dan Etete during a spending spree after his $350 million profit from the controversial sale of the OPL 245 oil field in 2010.
Nigeria first seized the aircraft, tail number M-MYNA and serial number 9471, from Mr. Etete in 2016 and had kept it in Dubai. Flight tracking websites showed that the plane was unexpectedly flown to Canada on May 29, 2020, where Nigeria quickly secured a court order to seize it, holding it at the main airport in Montreal. A Canadian firm, Tibit, tried to claim ownership, but Canadian courts allowed Nigeria to retain control of the aircraft.
In 2023, Zhongshang moved to seize the jet, which can accommodate up to 19 people, while pursuing enforcement of its over $70 million arbitration awards against Nigeria.
Judge Collier noted that Nigeria did not contest the aircraft’s seizure by Zhongshang, labeling the country’s reasoning—that it could not respond to the lawsuit for nine months due to the February-March 2023 general elections—as frivolous and unacceptable.
The judge also dismissed Nigeria’s claim of sovereign immunity, echoing previous findings by the arbitration panel and courts in the United Kingdom. Additionally, a recent ruling by an appellate court in the United States determined that Nigeria cannot assert sovereign immunity against Zhongshang’s recovery of its arbitration judgment.
With the Bombardier luxury aircraft now in its possession, Zhongshang has successfully seized Nigerian assets in the UK, France, and Canada, including the country’s guest houses, presidential jets, and the Etete jet, with more seizures anticipated in Belgium and the U.S. in the coming weeks.
Despite losing all challenges against the Chinese investors in at least five countries, Nigeria has maintained that it did not engage in any wrongdoing in the lawsuits, which stemmed from a failed free trade zone contract in Ogun State.
Nigeria and Ogun State have indicated that they are working to resolve the issue with Zhongshang, although no progress has been made since the parties first met in London from September 27-29, 2023.
The newspaper also stated that a spokesperson for President Bola Tinubu did not immediately respond to a request for comments regarding the latest developments.
