Nigeria: Controversy trails move to grant citizenship investment bill
Published: 30/Aug/2025
Source: Punch (Abuja)
Controversies have begun to trail the move by the National Assembly to amend the 1999 Constitution to grant citizenship to foreign investors who meet a certain investment threshold.
The proposed legislation, sponsored by the Deputy Speaker of the House of Representatives, Benjamin Kalu, and six others, is currently receiving consideration by the House Committee on Constitution Review.
The bill seeks to alter Section 28 of the Constitution to introduce a new class of citizenship known as Citizenship by Investment.
In the explanatory memorandum, the objective of the bill includes the need to attract Foreign Direct Investment by granting citizenship to individuals who invest in the Nigerian economy above a specified financial threshold or in strategic sectors critical to national development.
It further aims to attract substantial foreign capital into Nigeria, stimulating economic growth, creating employment opportunities, and financing essential infrastructure projects.
Expressing support for the bill, a member of the House of Representatives and Chairman of the Committee on Foreign Affairs, Oluwole Oke, said CBI was not new in other jurisdictions.
Read further: https://punchng.com/controversy-trails-move-to-grant-citizenship-investment-bill/