Zhongshang Fucheng Industrial Investment Ltd, a Chinese firm, has continued its aggressive asset seizure campaign against Nigeria, recently taking control of a luxury jet in Canada.
Thank you for reading this post, don't forget to subscribe!The Bombardier 6000 type BD-700-1A10 aircraft, previously owned by Nigeria, was seized following a decision by Canadian authorities in Montreal.
This move follows a Quebec court ruling that allowed Zhongshang to confiscate the jet as part of its efforts to enforce over $70 million in arbitration awards against Nigeria.
This is the latest in a series of seizures by Zhongshang, which has already claimed several Nigerian assets abroad.
These include two properties in Liverpool, a Dassault Falcon 7X in Paris, a Boeing 737, and an Airbus A330 valued at over $100 million.
The Bombardier 6000 in Canada marks the firm’s most recent acquisition in its ongoing legal battle with Africa’s largest oil producer.
The dispute traces back to a botched deal between Zhongshang and the Ogun State government over the management of a free trade zone.
As part of its enforcement strategy, Zhongshang has utilized asset tracing tools to locate and seize Nigerian assets in various countries, with more seizures expected in Belgium, the British Virgin Islands, and the United States.
Despite Nigeria’s attempts to retain ownership of the jet, including invoking sovereign immunity, the Superior Court of Quebec dismissed these claims.
The court also rejected Nigeria’s argument that it was unable to respond to the lawsuit due to the 2023 general elections, labeling the excuse as “frivolous and unacceptable.”
The jet, identified by its tail number M-MYNA and serial number 9471, has a controversial history. Acquired for $57 million by Dan Etete, a fugitive linked to the corrupt sale of the OPL 245 oil field, the aircraft was initially seized by Nigerian authorities in 2016.
It was later flown to Canada in 2020, where Nigeria secured a court order to maintain custody until Zhongshang’s recent successful seizure.
