Zhongshan Fucheng Industrial Investment Ltd, a Chinese company, has completed the repossession of a luxury jet owned by Nigeria in Canada.
This follows the firm’s recent seizure of Nigeria’s guest houses in Liverpool, UK, as part of efforts to recover $70 million in arbitration awards.
According to Peoples Gazette, the company recently obtained a change of custodian paperwork for the Bombardier 6000 BD-700-1A10 aircraft from Canadian authorities in Montreal. This came months after a Canadian court granted Zhongshang the authority to seize the jet.
A source stated that while the court had authorized the seizure earlier in the year, the official transfer of custody from Nigeria to Zhongshang was only finalized recently.
Zhongshang plans to continue targeting Nigeria’s global assets until the full arbitration amount is recovered.
Judge David Collier of the Superior Court of Quebec ruled on March 21, 2024, against Nigeria’s attempt to retain ownership of the aircraft.
The jet, purchased for $57 million by fugitive Dan Etete following a corrupt oil sale in 2010, was initially seized by Nigeria in 2016 and detained in Dubai. It was later transported to Canada in May 2020, where Nigeria had previously secured a court order for its seizure.
Zhongshang has already seized Nigerian assets in the UK, France, and Canada, including guest houses, presidential jets, and the Etete jet, with potential future seizures in Belgium and the US.
