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Chinese Investors Seize Another $57 Million Nigerian Jet in Canada

A Chinese company, Zhongshang Fucheng Industrial Investment Ltd, has successfully seized another luxury jet owned by Nigeria, continuing its efforts to recover money from a legal dispute. The jet, a Bombardier 6000 model BD-700-1A10, was originally bought for $57 million by Dan Etete, a former Nigerian oil minister. Etete reportedly made this purchase after securing over $350 million from the sale of the OPL 245 oil field in 2010.

Nigeria had initially confiscated the jet from Etete in 2016 and kept it in Dubai. However, in 2020, the jet was suddenly flown to Canada, where the Nigerian government obtained a court order to hold it. Things took a turn in 2023 when Zhongshang, seeking to enforce arbitration awards of over $70 million against Nigeria, took legal steps to claim the jet.

The Superior Court of Quebec ruled in favor of Zhongshang, dismissing Nigeria’s attempts to retain ownership. Nigeria argued that they could not respond to the case due to the February-March 2023 general elections. However, Judge David Collier called this excuse “frivolous and unacceptable.” The court also rejected Nigeria’s argument for sovereign immunity, something other courts in the UK and U.S. have also dismissed.

This jet seizure is part of a larger battle between Zhongshang and the Nigerian government. The conflict began when Ogun State, Nigeria, violated a 2001 trade treaty by canceling Zhongshang’s rights to a free trade zone in 2016. Zhongshang has already seized Nigerian assets in the UK, France, and now Canada. Further seizures are expected in Belgium and the United States as the firm continues to press for full recovery of its arbitration awards.

Despite Nigeria’s legal challenges and losses in multiple countries, the government maintains that it did nothing wrong in the trade disputes with Zhongshang. However, with the latest developments, it seems Zhongshang is not willing to stop until every cent owed is recovered.

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