Oshiomhole Urges FG To Seize South African Firms’ Profits To Compensate Xenophobia Victims

Senator Adams Oshiomhole has urged the Federal Government to appropriate profits made by South African companies operating in Nigeria and use the funds to compensate Nigerians whose businesses and properties were destroyed during recent xenophobic attacks in South Africa.

The former Edo State governor made the call during Tuesday’s Senate plenary while reacting to remarks by South Africa’s Minister in the Presidency, Khumbudzo Ntshavheni, who ruled out government compensation for affected Nigerians.

Ntshavheni maintained that only legally registered properties qualified for compensation, arguing that informal settlements did not meet the legal requirements. She also cited alleged drug-related activities involving some Nigerians in South Africa while defending her government’s position.

Rejecting the minister’s stance, Oshiomhole described the attacks and destruction of Nigerian-owned businesses as unjustifiable, irrespective of whether the affected businesses were formally registered.

He urged the Nigerian government to respond by appropriating profits earned by South African companies operating in Nigeria, including banks and telecommunications firms, and using the proceeds to compensate victims of the attacks.

According to the senator, Nigeria should not bear the financial burden of compensating victims while South African businesses continue to operate and repatriate profits without consequence.

Oshiomhole further argued that the deadline issued by mobs ordering Nigerians to leave South Africa was effectively enforced with the acquiescence of the South African authorities.

He insisted that no further investigation was needed, saying the destruction of Nigerian businesses, loss of lives and widespread attacks were well documented.

South African companies, including major telecommunications and financial institutions, have substantial investments in Nigeria, making the country one of their largest and most profitable markets on the continent.