Another Nigerian government executive jet has been seized by an aggrieved investor, this time in Canada. The jet, a Bombardier 6000 type BD-700-1A10, was previously seized from Dan Etete, a former petroleum minister, and had been stored in Canada. Zhongshang Fucheng Industrial Investment Ltd, a Chinese company, successfully repossessed the private jet valued at $57million from the Nigerian government.
The company, which has been seeking to confiscate Nigerian assets, received the necessary paperwork for the transfer of custodianship from Canadian authorities in Montreal. This development comes after a Canadian court ruled in favour of Zhongshang, granting the company permission to seize the aircraft from Nigeria, Peoples Gazette reports citing sources. “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 person familiar with Zhongshang’s activities said anonymously to discuss the matter.
“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 2.