Chinese Investors Seize $57 Million Private Jet Held by Nigeria in Canada

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In a significant development, a Chinese firm, Zhongshang Fucheng Industrial Investment Ltd, has successfully taken possession of a luxury Bombardier 6000 aircraft in Canada, originally owned by Nigeria. The aircraft, valued at $57 million, marks the latest asset seized by Zhongshang in a global campaign to enforce arbitration awards against the West African nation.

The seizure follows a decision by the Superior Court of Quebec, where Judge David Collier ruled against Nigeria's efforts to retain ownership of the aircraft. The plane, which was once part of the extravagant assets of Dan Etete—a former Nigerian Minister implicated in a massive corruption scandal—has been at the center of legal battles for years. Etete acquired the jet shortly after gaining substantial profits from the controversial sale of the OPL 245 oil block in 2010.

Nigeria initially confiscated the aircraft from Etete in Dubai in 2016 and subsequently transferred it to Canada in 2020, where it was kept under the control of Nigerian authorities. Despite attempts by a Canadian company, Tibit, to claim ownership, Nigerian authorities maintained possession until the recent court ruling favored Zhongshang.

This legal victory is part of Zhongshang's broader strategy to recover over $70 million awarded in arbitration against Nigeria. The firm has already seized several Nigerian assets across different countries, including the United Kingdom and France, where properties and other valuable assets have been taken over.

The court's decision dealt a blow to Nigeria's defense, which argued that it was unable to respond to the lawsuit due to the February-March 2023 general elections. Judge Collier dismissed this reasoning as "frivolous," affirming that Nigeria’s claim of sovereign immunity was invalid, consistent with earlier rulings in the United States and the United Kingdom.

With the Bombardier jet now under its control, Zhongshang continues its aggressive pursuit of Nigerian assets. Additional seizures are anticipated in Belgium and the United States as the firm aims to collect the full amount of the arbitration awards. Meanwhile, despite losing legal challenges in multiple jurisdictions, Nigeria maintains that it did not commit any wrongdoing in the contractual disputes that led to these legal actions.

Negotiations between Nigeria, Ogun State, and Zhongshang have been ongoing since late 2023 in an attempt to reach a settlement, but so far, no agreement has been reached. The situation remains tense as the implications of these asset seizures continue to unfold on the international stage.


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