By Abiola Olawale
A Chinese company, Zhongshan Fucheng Industrial Investment Ltd, has reportedly seized another asset owned by the Federal Government of Nigeria amid reported efforts by the company to recover arbitration awards totalling over $70 million.
According to a report by the Peoples Gazette, the latest Nigerian asset seized by the Chinese company is the Bombardier 6000 type BD-700-1A10 aircraft.
Zhongshang was said to have purportedly finalized the necessary details to take over the Bombardier 6000 type BD-700-1A10 aircraft from Canadian authorities in Montreal.
It would be recalled that the jet, which was procured by former Nigerian Minister of Petroleum Dan Etete, had previously been seized by Nigeria in 2016 over allegations linked to the controversial sale of the OPL 245 oil field.
The company reportedly made the move after securing a Canadian court ruling that allowed the firm to confiscate the jet.
Zhongshan was reported to have approached a Canadian court to seize the jet.
The court in a ruling delivered by Judge David Collier in March 2024, dismissed Nigeria’s attempts to retain ownership of the jet.
The judge also rejected Nigeria’s claim of sovereign immunity, echoing similar rulings from arbitration panels in the United Kingdom and a recent appellate court decision in the United States.
The New Diplomat reports that this comes after the Chinese firm had seized three presidential jets and also reportedly moved to seize properties in the United Kingdom, France, and Canada, including Nigerian guest houses over a business dispute with Ogun State.
The legal battle stems from a botched free trade zone agreement in Ogun State, Nigeria, involving Zhongshang and the state government.
