There appears to be no end in sight for Nigeria’s troubles as the nation is fast losing some of its prized assets to the Chinese Zhongshang Fucheng Industrial Investment Ltd, which has embarked on the successive seizure of Nigerian assets after it secured an order from a French court. The Chinese firm secured an order to confiscate Nigerian properties over an alleged breach of contractual agreement by Ogun State of Nigeria which stemmed from a failed free trade zone deal, and it has moved quickly to take over Nigeria’s assets in Europe and North America to collect up to $70 million from a 2021 arbitration verdict. No sooner did the Chinese firm seize three Nigerian presidential jets in France last week, than it followed it by confiscating two Nigerian guest houses in Liverpool UK on Wednesday.
And on Thursday the spate of seizure continued when the firm announced that it has finalised repossession of a luxury jet owned by Nigeria in Canada, LEADERSHIP gathered. The investment group reportedly received a change of custodian paperwork for the Bombardier 6000 type BD-700-1A10 aircraft from Canadian authorities in Montreal, and has exerted ownership over the aircraft. The firm had reportedly obtained a court judgment from a Canadian Court several months ago to enable it to seize the Nigerian jet.
“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,” someone familiar.