A Chinese firm has successfully repossessed a luxury jet owned by Nigeria as part of an ongoing effort to claim Nigerian assets worldwide. The aircraft, a Bombardier 6000 type BD-700-1A10, valued at $57 million, was taken over by Zhongshang Fucheng Industrial Investment Ltd after a legal battle in Canada.
According to sources familiar with the matter, Zhongshang Fucheng recently finalized the change of custody for the jet with Canadian authorities in Montreal. This comes months after a Canadian court ruled in favor of the Chinese company, granting them the right to seize the aircraft.
“The court had already authorized Zhongshang to seize the plane earlier this year, but the final transfer of custody from Nigeria to Zhongshang was only completed recently,” an anonymous source stated. “Zhongshang will continue to seize Nigeria’s assets globally until the full amount of the arbitration awards is paid.”
The dispute traces back to March 21, 2024, when Judge David Collier of the Superior Court of Quebec rejected Nigeria’s attempts to retain ownership of the aircraft. The jet had been purchased by Dan Etete, a former Nigerian oil minister, as part of his lavish spending following a controversial $350 million windfall from the sale of the OPL 245 oil field in 2010.
Nigeria first seized the aircraft from Etete in 2016, holding it in Dubai before flying it to Canada on May 29, 2020. After obtaining a Canadian court order, Nigeria kept the jet at Montreal’s main airport. Although a Canadian company, Tibit, attempted to claim ownership, Canadian courts sided with Nigeria at the time.
In 2023, Zhongshang initiated legal action to seize the jet while seeking to enforce an arbitration award of over $70 million against Nigeria. Judge Collier dismissed Nigeria’s claims, including their argument that the country could not respond to the lawsuit due to the 2023 general elections, as well as their assertion of sovereign immunity, which had already been rejected by UK courts.
With the Bombardier aircraft now in Zhongshang’s possession, the Chinese firm has successfully seized multiple Nigerian assets in the UK, France, and Canada, including guest houses, presidential jets, and now the Etete jet. Further seizures are anticipated in Belgium and the U.S. in the coming weeks.
Despite losing all legal challenges against the Chinese investors in at least five countries, Nigeria maintains its stance that it did nothing wrong. The legal disputes stem from a failed free trade zone contract in Ogun State. Nigeria and Ogun State officials have disclosed ongoing efforts to resolve the matter with Zhongshang, though little progress has been made since their last meeting in London in September 2023. A spokesperson for President Bola Tinubu was unavailable for comment.
