MONTREAL, Canada – In a move that underscores the intensifying legal battles between Nigeria and foreign entities, Zhongshang Fucheng Industrial Investment Ltd, a Chinese corporation, has successfully repossessed a luxury private jet valued at $57 million from the Nigerian government.
The jet, a Bombardier 6000 type BD-700-1A10, had been the subject of international legal wrangling since it was seized from former Nigerian petroleum minister Dan Etete.
The aircraft, which had been stored in Canada, was officially transferred to Zhongshang after the company obtained the necessary custodial paperwork from Canadian authorities in Montreal.
This development, reported in the Nigerian press on Thursday, August 22, 2024, follows a decision by a Canadian court, which earlier this year ruled in favor of Zhongshang, allowing the firm to seize the aircraft as part of its efforts to recover arbitration awards from the Nigerian government.
“The court granted orders for Zhongshang to seize the plane earlier this year, but the change of custody from Nigeria to Zhongshang was only recently concluded,” said an individual familiar with Zhongshang’s operations who spoke on condition of anonymity.
The source further noted that the company remains committed to pursuing Nigerian assets until the full amount of the arbitration awards, which exceed $70 million, is recovered.
“Zhongshang will not stop seizing Nigeria’s assets worldwide until the last cent of the arbitration awards has been paid,” the source added.
The court battle, which culminated in the repossession of the jet, dates back to March 21, 2024, when Judge David Collier of the Superior Court of Quebec dismissed Nigeria’s attempts to retain ownership of the aircraft.
The plane, purchased by Dan Etete after he secured a windfall from the controversial sale of Nigeria’s OPL 245 oil field in 2010, had been under Nigerian control since 2016 when it was first seized in Dubai.
It was later flown to Canada, where Nigerian authorities managed to secure a court order to keep the jet grounded in Montreal.
However, the tides turned in 2023 when Zhongshang moved to enforce its arbitration awards against Nigeria, resulting in the Canadian court’s decision to transfer custody of the jet.
Judge Collier criticized Nigeria’s defense, which claimed it could not adequately respond to the lawsuit due to the 2023 general elections, as “frivolous and unacceptable.”
The court also rejected Nigeria’s claim to sovereign immunity, aligning with earlier decisions made by courts in the United Kingdom.
With the successful seizure of the Bombardier jet, Zhongshang has added another significant asset to its list of Nigerian properties confiscated across various countries.
The company has already seized assets in the United Kingdom, France, and Canada, and is reportedly eyeing further seizures in Belgium and the United States in the coming weeks.
Despite these setbacks, Nigerian officials maintain that the government has acted within its rights and continues to deny any wrongdoing.
Both the federal government and Ogun State have engaged in ongoing negotiations with Zhongshang in an attempt to resolve the disputes, though no significant progress has been reported since the parties last met in London in September 2023.
A spokesperson for Nigeria’s President Bola Tinubu did not immediately respond to requests for comment on this latest development.
The repossession of the Bombardier jet adds to the growing list of challenges facing Nigeria as it grapples with legal and financial pressures on the international stage.
This latest incident comes on the heels of another Chinese company confiscating three additional jets belonging to the Nigerian government, further escalating tensions and raising concerns about Nigeria’s ability to protect its assets abroad.
