Reps propose Nigerian citizenship for major foreign investors

Reps propose Nigerian citizenship for major foreign investors

A bill for an Act to alter the Constitution of the Federal Republic of Nigeria, 1999 to include citizenship by investment as one of the classes of citizenship in Nigeria, scaled second reading at the House of Representatives on Wednesday.

The Citizenship by Investment Bill, which is among the Constitution amendment bills presently before the House of Representatives, seeks to alter the Constitution to introduce a new class of citizenship known as citizenship by investment.

The bill provides for the acquisition of Nigerian citizenship by qualified foreign investors who meet specified investment thresholds.

The proposed alteration aims to attract foreign direct investment by granting Nigerian citizenship to individuals who invest in the Nigerian economy above a specified financial threshold or in strategic sectors critical to national development.

The proposed laws, sponsored by the Deputy Speaker, Benjamin Kalu and other lawmakers, were presented for second reading by the House leader, Prof Julius Ihonvbere.

Other bills presented include, a Bill for an Act to alter the Constitution of the Federal Republic of Nigeria, 1999 (as amended) to guarantee indigene status to persons by reason of birth or continued residence for a period of not less than 10 years or by reason of marriage and for related matters.

Additionally, the Indigene Status Bill seeks to alter the Constitution to guarantee indigene status to persons by reason of birth or continuous residence for a period not less than ten years or by reason of marriage.

According to the explanatory memorandum, the bill “seeks to alter Section 31 of the Principal Act by inserting new subsections as follows: “Alteration of Section 31 of the Principal Act is altered by inserting new subsections “(2) – (5).”

“(2) A citizen of Nigeria is an indigene of a State if he was born in that State and has lived in the State for a continuous period of at least 10 years; or was not born in the State but has resided in a Local Government Area of that State for a continuous period of at least 10 years and can provide evidence of tax payment in that State for at least 10 years.”

“(3) A person under subsection (2) of this section is entitled to apply to the Local Government Chairman for a certificate of indigeneship of a State.

“4) A woman who is married to an indigene of a State different from her State of origin for at least five years becomes an indigene of that State and is entitled to all rights and privileges of an indigene of that State in cases of employment, appointment or election into any political or public office.

“(5) In the case of divorce or death of a spouse, a woman remains an indigene if  there were children born of the marriage or not; or she elects to remain an indigene of that State.”

It proposes to alter the Constitution to review the penalties for certain capital offences in alignment with relevant international best practices.

“The proposed alteration aims to ensure that Nigeria’s criminal justice system reflects global standards of fairness, proportionality, and respect for human rights while maintaining public safety and addressing serious crimes effectively,” the bill read.

Also, the Office of the Accountant-General of the Federation bill seeks to alter the Constitution, to establish the Office of the Accountant-General of the Federation as well as the Office of the Accountant-General of the Federal Government.

The bill proposes that the Accountant-General of the Federal Government shall hold office for a term of four years, which may be renewed for a further term of four years by Mr President.

“The Accountant-General of the Federal Government shall remain in office until he attains the age of sixty years or thirty-five years of public service, whichever comes earlier,” it adds.