Confiscation of Nigerian assets by Zhongshang Fucheng continues with Chinese firm taking possession of a private jet belonging to former Minister of State for Petroleum Dan Etete.
The aircraft in question was seized by the Federal government from Mr. Etete who allegedly bought it with proceeds from corruption. It was lying fallow at the Montreal Airport in Canada.
According to People’s Gazette reports Zhongshang Fucheng Industrial Investment Ltd recently obtained paperwork for the Bombardier 6000 type BD-700-1A10 aircraft from Canadian authorities in Montreal, after a Canadian court granted the order for the seizure.
“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,” said a source.
“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 Chinese firm had also obtained similar judgments in the US, UK and France where three presidential jets were seized. This was after the Ogun State government under governor Ibikunle Amosun terminated a contract the government signed with the firm to develop a free-trade zone in the State.
