Senator Adams Oshiomhole Urges FG to Seize South African Companies’ Profits to Compensate Nigerians Over Xenophobic Attacks

Senator Adams Oshiomhole Urges FG to Seize South African Companies’ Profits to Compensate Nigerians Over Xenophobic Attacks

Senator has urged the Federal Government to appropriate profits earned by South African companies operating in Nigeria and use the funds to compensate Nigerians who lost businesses, properties, and loved ones during xenophobic attacks in .

The lawmaker made the call during Tuesday's plenary session of the Senate while reacting to recent remarks by South Africa’s Minister in the Presidency, , who ruled out compensation for affected Nigerians.

Oshiomhole Rejects South Africa’s Position on Compensation

Ntshavheni had argued that only legally registered properties qualify for government compensation, stating that many of the affected businesses were located in informal settlements and therefore did not meet the legal requirements.

She also referenced alleged drug-related activities involving some Nigerians in South Africa while explaining her government's position.

However, Oshiomhole strongly disagreed, insisting that the destruction of Nigerian-owned businesses, looting of shops, and loss of lives could not be justified regardless of the legal status of the affected properties.

'Use South African Companies’ Profits to Pay Nigerians' – Oshiomhole

Speaking on the Senate floor, Oshiomhole said Nigeria should respond decisively by redirecting profits generated by South African businesses operating in the country.

«"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."»

The senator argued that it would be unfair for Nigerian taxpayers to bear the financial burden while South African companies continue to generate substantial profits from the Nigerian market.

'Nigeria Must Protect Its Citizens'

Oshiomhole further stated that Nigerians living in South Africa had previously been given deadlines by violent mobs to leave the country, alleging that the South African government failed to adequately prevent the attacks.

He said:

«"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."»

He added that the Federal Government should immediately appropriate the profits and use them to compensate Nigerians whose businesses were destroyed and whose families suffered losses.

«"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."»

South African Companies Have Major Investments in Nigeria

South African companies maintain significant commercial interests across Nigeria, with firms such as and major financial institutions, including Stanbic IBTC, operating extensive businesses in the country.

Nigeria remains one of the largest markets for South African investments on the African continent, making Oshiomhole's proposal one that could have major economic and diplomatic implications if adopted by the Federal Government.

The senator's remarks have reignited discussions about justice for victims of xenophobic violence and the future of economic relations between Nigeria and South Africa.