The latest seizure is part of a confiscation blitz of Nigerian assets by the firm in its efforts to effect over $70 million court judgment against Nigeria.
Zhongshang Fucheng Industrial Investment Ltd had received a change of custodian paperwork for the Bombardier 6000 type BD-700-1A10 aircraft from Canadian authorities in Montreal, said sources familiar with the case.
This came months after a Canadian court issued a judgement that empowered Zhongchang to seize the jet from Nigeria.
“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,” a source said.
“Zhongshang will not stop seizing Nigeria’s assets worldwide until the last cent of the arbitration awards has been paid.”
Judge David Collier of the Superior Court of Quebec had on March 21, 2024, quashed Nigeria’s arguments to keep ownership of the aircraft, which records showed was purchased for $57 million by fugitive Dan Etete as part of his spending binge shortly after netting over $350 million windfall from the lucrative but corrupt sale of OPL 245 oil field in 2010.
Nigeria first seized the aircraft, with tail number M-MYNA and serial number 9471, from Mr Etete in 2016 and trapped it in Dubai.
Flight tracking websites showed it was then flown suddenly to Canada on May 29, 2020, where Nigeria quickly obtained a court order for seizure and held it at the main airport in Montreal.
A Canadian firm, Tibit, sought to claim ownership, but Canadian courts allowed Nigeria to remain in charge of the aircraft.
In 2023, Zhongshang moved to seize the jet, which could accommodate up to 19 people, while pursuing enforcement of its arbitration awards of over $70 million against Nigeria.
Judge Collier said Nigeria failed to enter a dispute against the aircraft’s seizure by Zhongshang, declaring the country’s argument that it could not respond to the lawsuit for nine months over the February-March 2023 general elections was frivolous and unacceptable.
The judge also rejected Nigeria’s sovereign immunity claim along the lines already itemised by the arbitration panel and courts in the United Kingdom.
An appellate court in the United States also recently ruled that Nigeria cannot claim sovereign immunity rights in Zhongshang’s arbitration judgment.
With the Bombardier luxury aircraft now in its possession, Zhongshang has successfully seized Nigeria’s assets in the UK, France and Canada.
Assets seized included guest houses, two presidential jets, and now this luxury aircraft.
There are fears that the firm may go after more Nigerian assets in Belgium and the U.S. in the coming weeks.
Nigeria has lost all its challenges against the Chinese investors in at least five countries.
The case was filed by the company when Ogun State Government terminated an agreement on the management of a free trade zone in the state.
Nigeria and Ogun State have disclosed ongoing efforts to resolve the matter with Zhongshang, although no headway has been recorded since the parties first met in London from September 27-29, 2023.
A spokesperson for President Bola Tinubu did not immediately return a request seeking comments on the latest development.
