Seize S’African companies profits to pay xenophobia victims, Oshiomhole urges FG

Senator Adams Oshiomhole has called on the Nigerian Federal Government to appropriate profits generated by South African companies operating within Nigeria. He suggested that these funds should be used to compensate Nigerians whose businesses and properties were destroyed during recent xenophobic attacks in South Africa.

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Following comments by the South African minister to the effect that compensation will not be paid to those Nigerians whose properties were looted, shops bombed and lives even lost, the government of Nigeria should reciprocate by appropriating the profit accrued from South African companies, including their banks, IBTC and use the money to pay Nigerians.

Oshiomhole made this appeal during a plenary session, reacting to comments by South Africa's Minister in the Presidency, Khumbudzo Ntshavheni. Ntshavheni had previously stated that the South African government would not compensate affected Nigerians, arguing that only legally registered properties were eligible and that informal settlements did not meet this criterion. She also referenced alleged drug-related activities among Nigerians in South Africa.

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We cannot allow a situation where our people take taxpayers' money to pay compensation while South African investment and profit is being taken away untouched.

Senator Oshiomhole strongly rejected the minister's position, deeming the destruction of Nigerian-owned businesses unjustifiable regardless of their registration status. He argued that Nigeria should reciprocate by appropriating profits from South African companies, including their banks, to compensate Nigerians who have suffered losses.

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I urge that the profit be appropriated and used to settle those who have been brutally attacked, whose businesses have been bombed and whose lives have been lost.

"We cannot allow a situation where our people take taxpayers' money to pay compensation while South African investment and profit is being taken away untouched," Oshiomhole stated. He urged that the profits be appropriated to settle those who have been brutally attacked, whose businesses have been bombed, and whose lives have been lost, asserting that the facts are self-evident and require no further investigation. South African firms like MTN and several banks have significant investments in Nigeria.

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This does not require any further investigation because the facts are self-evident.