Seize South African firms’ profits to compensate xenophobia victims – Oshiomhole tells FG

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

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

Ntshavheni had argued that only legally registered properties qualified for compensation, insisting that businesses operating in informal settlements were not eligible. She also referenced alleged drug-related activities involving some Nigerians while defending her government’s position.

Reacting to the comments, Oshiomhole described the South African government’s stance as unacceptable, insisting that the destruction of Nigerian-owned businesses and loss of lives could not be justified on any grounds.

> “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,” he said.

The senator noted that the ultimatum issued to Nigerians to leave South Africa was imposed by violent groups but was effectively tolerated by the South African government.

He argued that Nigeria should not bear the financial burden of compensating victims while South African businesses continue to generate substantial profits within the country.

“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.

“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.

“This does not require any further investigation because the facts are self-evident,” Oshiomhole added.

South African companies, including telecommunications giant MTN and several banking institutions, maintain significant commercial operations in Nigeria, making the country one of their biggest markets on the African continent.

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