Chinese Investors Seize Another $57M Nigerian Jet in Canada

Zhongshan Fucheng Industrial Investment Ltd, a Chinese firm, has seized a $57 million luxury jet owned by Nigeria in Canada. This is part of the company’s broader effort to recover $70 million in arbitration awards from Nigeria. The jet, a Bombardier 6000 BD-700-1A10, was officially transferred to Zhongshan by Canadian authorities in Montreal following a court ruling that allowed the company to take possession.
The aircraft, originally purchased by fugitive Dan Etete after he gained $350 million from the controversial sale of Nigeria's OPL 245 oil field in 2010, was first seized by Nigeria in 2016 and held in Dubai. In May 2020, the jet was flown to Canada, where Nigerian authorities secured a court order to keep it at Montreal's main airport.
Judge David Collier of the Superior Court of Quebec dismissed Nigeria's arguments to retain the aircraft on March 21, 2024, paving the way for Zhongshan to finalize the seizure. This move follows Zhongshan’s earlier confiscation of Nigeria's guest houses in Liverpool, UK. The firm has now taken possession of multiple Nigerian assets in the UK, France, and Canada, including presidential jets. Further asset seizures are expected in Belgium and the U.S. in the near future.
#news #nigeria #chinanews #disputes