Oshiomhole Pushes FG to Appropriate S'African Company Profits for Xenophobia Victims

Senator Adams Oshiomhole has implored the Nigerian Federal Government to seize earnings generated by South African businesses operating within the country. According to him, these funds ought to be allocated as restitution for Nigerians whose enterprises and assets suffered destruction in the recent xenophobic violence in South Africa. The former Edo State Governor voiced this proposition during a Tuesday plenary session, responding to remarks from South Africa's Minister in the Presidency, Khumbudzo Ntshavheni, who had previously dismissed the idea of official government payouts for Nigerian victims.

Minister Ntshavheni had previously contended that only formally registered properties were eligible for recompense, explicitly stating that informal dwellings did not satisfy this criterion. Furthermore, she had alluded to supposed drug-related involvements among Nigerians residing in South Africa as part of her government's justification. Nevertheless, Senator Oshiomhole strongly disagreed with the minister's stance, asserting that the devastation of Nigerian-owned enterprises was inexcusable, irrespective of their registration status.

This development comes amidst other national news, including an ex-lawmaker from Osun providing business grants to small-scale entrepreneurs, the ICPC collaborating with Borno banks to combat money laundering, and the EFCC transferring 1,452 recovered hostel items to the Ministry of Education.

"Considering the South African minister's assertions that no compensation would be extended to Nigerians who suffered looted properties, bombed businesses, and even loss of life, the Nigerian government must retaliate by seizing the profits accumulated by South African enterprises, including their financial institutions like IBTC, and utilize these funds to compensate Nigerians," Oshiomhole declared. The senator further highlighted that the ultimatum for Nigerians to depart South Africa was unilaterally set by a mob, yet the South African government appeared to endorse it.

Oshiomhole emphasized, "We cannot permit a scenario where our citizens' tax contributions are used for compensation, while South African investments and their profits are repatriated without consequence." He continued, "I strongly advocate for these profits to be confiscated and applied towards compensating those who have endured brutal assaults, had their businesses destroyed, and lost loved ones. This course of action requires no additional inquiry, as the evidence is unequivocally clear."

It is noteworthy that numerous South African corporations, such as MTN and several banking institutions, maintain substantial commercial operations in Nigeria, positioning the country as one of their most significant markets across the African continent.