• Latest
  • Trending
  • All
  • Politics
  • Economy
  • Security
  • Education
  • Sports
  • Health
  • Entertainment
  • Legal
  • Technology and Science
  • Opinion
  • Columns
  • Exposé
  • World
  • Lifestyle
Wealthy Nigerians Spend Over $1b Buying Citizenship Abroad In 2020

Wealthy Nigerians Spend Over $1b Buying Citizenship Abroad In 2020

5 years ago
Sierra Leone Suffers Power Cut As Turkish Power Supplier Shutdown Amid $40 Million Debt

Benin, Togo Owe Nigeria Over $11m In Unpaid Electricity Bills – NERC

9 minutes ago
Russia, China’s Presidents Absent As BRICS Summit Starts In Brazil

Russia, China’s Presidents Absent As BRICS Summit Starts In Brazil

50 minutes ago
Ukrainian Forces Capture Nigerian Fighting For Russia

Ukrainian Forces Capture Nigerian Fighting For Russia

8 hours ago
Club World Cup: Chelsea, Fluminense Battle For Final Ticket

Club World Cup: Chelsea, Fluminense Battle For Final Ticket

8 hours ago
Kenya Tax

Even If Devil Is Angry, I’ll Construct Huge Church At Presidential Palace — Ruto

24 hours ago
Saturday, July 5, 2025
  • About
  • Privacy Policy
Heritage Times
No Result
View All Result
Translate |
  • Login
  • Politics
    Russia, China’s Presidents Absent As BRICS Summit Starts In Brazil

    Russia, China’s Presidents Absent As BRICS Summit Starts In Brazil

    Mali: Parliament Grants Coup Leader 5-Year Renewable Presidential Term Without Election

    Mali: Parliament Grants Coup Leader 5-Year Renewable Presidential Term Without Election

    Russia Becomes First To Recognise Taliban Government Of Afghanistan

    Russia Becomes First To Recognise Taliban Government Of Afghanistan

    Nigeria Misses Out, As Trump Hosts Economy, Security Meeting With 5 African Presidents

    Nigeria Misses Out, As Trump Hosts Economy, Security Meeting With 5 African Presidents

    ADC: Major Shake-Up In Nigerian Politics As Top Figures Unite

    ADC: Major Shake-Up In Nigerian Politics As Top Figures Unite

    Tanzania: Prime Minister Majaliwa To Step Down

    Tanzania: Prime Minister Majaliwa To Step Down

    Ivory Coast: AU Court Rejects Gbagbo’s Bid To Seek Re-Election

    Ivory Coast: AU Court Rejects Gbagbo’s Bid To Seek Re-Election

    SA: Crack Widens In Unity Govt As DA Withdraws From National Dialogue

    SA: Crack Widens In Unity Govt As DA Withdraws From National Dialogue

    Cameroon: Influential Minister Resigns, To Challenge President Biya At Polls

    Cameroon: Influential Minister Resigns, To Challenge President Biya At Polls

  • Economy
    Namibia Suspends State Funerals Following Criticism Over High Costs

    Namibia Suspends State Funerals Following Criticism Over High Costs

    SA: Mineral Council Says Proposed Tax On Chrome Export Threatens Jobs

    SA: Mineral Council Says Proposed Tax On Chrome Export Threatens Jobs

    Senegal Moves To Reduce Reliance On Foreign Lenders, Targets Improved IGR

    Senegal Promises To Clear Undeclared Debt Incurred By Past Administration

    Nigerian Govt Set To Launch ‘Africans For Africa’ Mining Sector Fund

    Nigerian Govt Set To Launch ‘Africans For Africa’ Mining Sector Fund

    Kenya Mulls Privatisation Of Key Government Assets To Attract Investment

    Kenya Mulls Privatisation Of Key Government Assets To Attract Investment

    Nigeria: Govt Says Deliberate Policies Boosting Investors’ Confidence In Oil & Gas Sector

    Nigeria: Govt Says Deliberate Policies Boosting Investors’ Confidence In Oil & Gas Sector

    US-Africa Summit Wraps Up with Trade and Investment Deals Worth Over $2.5 Billion

    US-Africa Summit Wraps Up With Trade And Investment Deals Worth Over $2.5 Billion

    S/Africa Introduces $54 Million Incentive To Boost Local Manufacturing Of EVs

    South Africa Secures $474.6 Million Loan From AfDB To Boost Energy Transition

    Celebration Of Excellence: Nigerian Govt Rewards Outstanding Civil Servants With Brand New Cars, House

    Celebration Of Excellence: Nigerian Govt Rewards Outstanding Civil Servants With Brand New Cars, House

  • Security
  • Education
  • Sports
  • Health
  • Metro
  • Entertainment
  • Lifestyle
  • Legal
  • Tech & Science
  • Opinion
  • Exposé
  • Exclusive Videos
  • Niger Delta
  • World
  • Politics
    Russia, China’s Presidents Absent As BRICS Summit Starts In Brazil

    Russia, China’s Presidents Absent As BRICS Summit Starts In Brazil

    Mali: Parliament Grants Coup Leader 5-Year Renewable Presidential Term Without Election

    Mali: Parliament Grants Coup Leader 5-Year Renewable Presidential Term Without Election

    Russia Becomes First To Recognise Taliban Government Of Afghanistan

    Russia Becomes First To Recognise Taliban Government Of Afghanistan

    Nigeria Misses Out, As Trump Hosts Economy, Security Meeting With 5 African Presidents

    Nigeria Misses Out, As Trump Hosts Economy, Security Meeting With 5 African Presidents

    ADC: Major Shake-Up In Nigerian Politics As Top Figures Unite

    ADC: Major Shake-Up In Nigerian Politics As Top Figures Unite

    Tanzania: Prime Minister Majaliwa To Step Down

    Tanzania: Prime Minister Majaliwa To Step Down

    Ivory Coast: AU Court Rejects Gbagbo’s Bid To Seek Re-Election

    Ivory Coast: AU Court Rejects Gbagbo’s Bid To Seek Re-Election

    SA: Crack Widens In Unity Govt As DA Withdraws From National Dialogue

    SA: Crack Widens In Unity Govt As DA Withdraws From National Dialogue

    Cameroon: Influential Minister Resigns, To Challenge President Biya At Polls

    Cameroon: Influential Minister Resigns, To Challenge President Biya At Polls

  • Economy
    Namibia Suspends State Funerals Following Criticism Over High Costs

    Namibia Suspends State Funerals Following Criticism Over High Costs

    SA: Mineral Council Says Proposed Tax On Chrome Export Threatens Jobs

    SA: Mineral Council Says Proposed Tax On Chrome Export Threatens Jobs

    Senegal Moves To Reduce Reliance On Foreign Lenders, Targets Improved IGR

    Senegal Promises To Clear Undeclared Debt Incurred By Past Administration

    Nigerian Govt Set To Launch ‘Africans For Africa’ Mining Sector Fund

    Nigerian Govt Set To Launch ‘Africans For Africa’ Mining Sector Fund

    Kenya Mulls Privatisation Of Key Government Assets To Attract Investment

    Kenya Mulls Privatisation Of Key Government Assets To Attract Investment

    Nigeria: Govt Says Deliberate Policies Boosting Investors’ Confidence In Oil & Gas Sector

    Nigeria: Govt Says Deliberate Policies Boosting Investors’ Confidence In Oil & Gas Sector

    US-Africa Summit Wraps Up with Trade and Investment Deals Worth Over $2.5 Billion

    US-Africa Summit Wraps Up With Trade And Investment Deals Worth Over $2.5 Billion

    S/Africa Introduces $54 Million Incentive To Boost Local Manufacturing Of EVs

    South Africa Secures $474.6 Million Loan From AfDB To Boost Energy Transition

    Celebration Of Excellence: Nigerian Govt Rewards Outstanding Civil Servants With Brand New Cars, House

    Celebration Of Excellence: Nigerian Govt Rewards Outstanding Civil Servants With Brand New Cars, House

  • Security
  • Education
  • Sports
  • Health
  • Metro
  • Entertainment
  • Lifestyle
  • Legal
  • Tech & Science
  • Opinion
  • Exposé
  • Exclusive Videos
  • Niger Delta
  • World
No Result
View All Result
First with the News

Wealthy Nigerians Spend Over $1b Buying Citizenship Abroad In 2020

Afraid of Nigeria's collapse, rich citizens are planning their escape and they're taking their money with them.

December 13, 2020
in Economy, Top Stories
0
Wealthy Nigerians Spend Over $1b Buying Citizenship Abroad In 2020
0
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

Wealthy Nigerians have spent no fewer than $1billion in 2020 securing golden visas and citizenship of other countries as they seek for safe haven ahead of the nation’s likely collapse.

Interestingly, the $1billion is a conservative estimate owing to the fact that a number of the applications are processed by citizenship advisory firms.

Relatedreading

Benin, Togo Owe Nigeria Over $11m In Unpaid Electricity Bills – NERC

Russia, China’s Presidents Absent As BRICS Summit Starts In Brazil

According to a report published by Al Jazeera, more Nigerians paid for golden visas or citizenship in the year 2020 than any other year.

More so, one of the world’s largest citizenship advisory firms, London-based Henley & Partners recorded a 185 percent increase in applications by Nigerians during the eight months to September 2020, a development which made Nigeria the second-largest nationality to apply for such schemes after Indians.

“We’ve never had this many people contacting us,” said Paddy Blewer, head of marketing at Henley & Partners which over 1,000 Nigerians have consulted to inquire about the citizenship of another country.

Similarly, Arton Capital, a citizenship advisory group, said demand from Nigerian families for Antigua and Barbuda citizenship is up 15 percent this year compared with the last.

St Lucia has also seen a record number of Nigerians applying in 2020. “It’s more than it’s ever been over the past four years,” says Nestor Alfred, CEO of the St Lucia Citizenship-by-Investment Unit.

The rush to escape from Nigeria reached the apogee in July, with the coronavirus epidemic raging.

Another propelling factor has been the recent #EndSARS protest, according to the report.

A Nigerian interviewed, cited the escalation of COVID-19 cases in Nigeria as a reason wealthy Nigerians started looking more seriously at citizenship abroad.

“Those with medical conditions that could not fly out – a lot of them are buying passports just because if there is any problem they can fly out,” said Olusegun Paul Andrew, 56, a Nigerian entrepreneur and investor who spends much of the year in the Netherlands.

“Flying out” of Nigeria is hard and not just because of the coronavirus pandemic. Just 26 countries allow Nigerian passport holders visa-free entry, many of them part of West Africa’s ECOWAS arrangement. Both the United Kingdom and Europe’s Schengen zone require Nigerians to obtain visas ahead of travelling.

For the wealthy, this is too much hassle. “They don’t want to be queueing for visas for any EU country or whatever,” says Andrew. Instead, why not purchase the citizenship of a country with visa-free access to Europe?

According to the report, the destinations of Nigerians seeking citizenship or golden visas are Malta and many Caribbean nations.

In Malta, all they need to do for citizenship is to have an investment of between $100,000 to $800,000 in the country.

In St Kitts and Nevis, a passport can cost as much as $400,000.

The passport opens doors to Europe and America, where they do not get visas anymore.

Bimpe, a wealthy Nigerian who was interviewed for the report said she has three passports. One Nigerian, which she says she never uses, and two from Caribbean nations: St Kitts and Nevis; and Grenada.

“St Kitts and Nevis passport, which cost her $400,000 via a real estate investment programme, was useful when she travelled between London and New York on business as it allows for visa-free travel to the UK and Europe. But now that she has retired in Abuja, Bimpe, whose husband has passed away, wants her three adult sons to have the same opportunities to travel and live abroad.

“My kids were interested in visa-free travel. They are young graduates, wanting to explore the world. So that was the reason for my investment,” she explains.

ShareTweetSend
Previous Post

Arsenal boss Mikel Arteta leaves door open for possible Mesut Ozil return

Next Post

PHOTO STORY: Kano Man Finally Weds American Lover Janine Sanchez in Nigeria

Related Posts

Sierra Leone Suffers Power Cut As Turkish Power Supplier Shutdown Amid $40 Million Debt

Benin, Togo Owe Nigeria Over $11m In Unpaid Electricity Bills – NERC

July 5, 2025
Russia, China’s Presidents Absent As BRICS Summit Starts In Brazil

Russia, China’s Presidents Absent As BRICS Summit Starts In Brazil

July 5, 2025

Ukrainian Forces Capture Nigerian Fighting For Russia

Club World Cup: Chelsea, Fluminense Battle For Final Ticket

Even If Devil Is Angry, I’ll Construct Huge Church At Presidential Palace — Ruto

Partey: Ex-Arsenal Star Charged With ‘Rape’

Next Post
PHOTO STORY Kano Man Finally Weds American Lover Janine Sanchez 6

PHOTO STORY: Kano Man Finally Weds American Lover Janine Sanchez in Nigeria

Please login to join discussion
AfriHeritage Magazine Issue 2 AfriHeritage Magazine Issue 2 AfriHeritage Magazine Issue 2

Updates

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
Sierra Leone Suffers Power Cut As Turkish Power Supplier Shutdown Amid $40 Million Debt

Benin, Togo Owe Nigeria Over $11m In Unpaid Electricity Bills – NERC

July 5, 2025
Russia, China’s Presidents Absent As BRICS Summit Starts In Brazil

Russia, China’s Presidents Absent As BRICS Summit Starts In Brazil

July 5, 2025
Ukrainian Forces Capture Nigerian Fighting For Russia

Ukrainian Forces Capture Nigerian Fighting For Russia

July 5, 2025
Club World Cup: Chelsea, Fluminense Battle For Final Ticket

Club World Cup: Chelsea, Fluminense Battle For Final Ticket

July 5, 2025
JESIN GAMES - AfriTrivia JESIN GAMES - AfriTrivia JESIN GAMES - AfriTrivia
ADVERTISEMENT

Most Recent

Benin, Togo Owe Nigeria Over $11m In Unpaid Electricity Bills – NERC

July 5, 2025

Russia, China’s Presidents Absent As BRICS Summit Starts In Brazil

July 5, 2025

Ukrainian Forces Capture Nigerian Fighting For Russia

July 5, 2025

Club World Cup: Chelsea, Fluminense Battle For Final Ticket

July 5, 2025

Even If Devil Is Angry, I’ll Construct Huge Church At Presidential Palace — Ruto

July 4, 2025

Partey: Ex-Arsenal Star Charged With ‘Rape’

July 4, 2025

Egypt, Morocco And South Africa Named Among World’s Best Countries

July 4, 2025

Namibia Suspends State Funerals Following Criticism Over High Costs

July 4, 2025

About

Heritage Times HT stands as a beacon of pan-African journalism, dedicated to amplyfing the rich tapestry of voices and narratives across the continent. With unwavering commitment, we illuminate the evocative essence of Africa, offering a fresh perspective that captivates our global audience.

Featured

From Hope To Fear: Kenya Joins East Africa’s Crackdown On Free Expression

AfDB Set For A New President, As Ould Tah Gains Continental Endorsement

How Dangote Is Turning Trump’s Trade War Into Africa’s Opportunity

Connect

Connect with us on social media and receive timely updates on the go.

Get Updates

  • About
  • Privacy Policy

© 2024 Heritage Times (HT) Media.

No Result
View All Result
  • Welcome
  • Politics
  • Economy
  • Security
  • Exposé
  • Education
  • Sports
  • Health
  • Entertainment
  • Legal
  • Technology and Science
  • Columns
    • Opinion
  • World
  • __________________
  • Make a Donation
  • Photo Speaks
  • Videos
  • You-Report
  • Whistleblower
  • Advertise
  • HT Events
  • About HT
  • Contact us

© 2024 Heritage Times (HT) Media.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In