In a dramatic turn of events, Zhongshan Fucheng Industrial Investment Ltd, a Chinese company, has successfully repossessed a luxury jet owned by Nigeria in Canada.

This move comes after the firm confiscated Nigeria's guest houses in Liverpool, UK, in an effort to recover a staggering $70 million in arbitration awards.

According to Peoples Gazette, Zhongshan Fucheng received the change of custodian paperwork for the Bombardier 6000 type BD-700-1A10 aircraft from Canadian authorities in Montreal. 

This development follows a Canadian court's judgment earlier this year, empowering Zhongshan to seize the jet from Nigeria.

"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 source revealed. "Zhongshang will not stop seizing Nigeria's assets worldwide until the last cent of the arbitration awards has been paid."

This bold move by Zhongshan Fucheng signals its determination to recover the debt owed by Nigeria. 

The seizure of the luxury jet and guest houses in the UK serves as a stark reminder of the consequences of unpaid arbitration awards.