Oshiomhole asks FG to Appropriate Profits Of Nigerian-based South African companies to Xenophobia victims

The renewed refusal by the South African government to compensate Nigerians who lost businesses and property during recent xenophobic attacks has drawn a sharp response from the Senate.

Senator Adams Oshiomhole urged the Federal Government to seize profits earned by South African companies operating in Nigeria and channel the funds to affected victims.

Oshiomhole, who represents Edo North, said Nigeria should no longer allow South African businesses to continue repatriating profits while victims of the attacks remain uncompensated.

His reaction followed remarks by South Africa’s Minister in the Presidency, Khumbudzo Ntshavheni, who dismissed demands for compensation, insisting that only legally registered properties qualified for government intervention.

The minister also argued that structures in informal settlements could not be compensated and referenced alleged criminal activities involving some Nigerians while explaining her country’s position.

Rejecting the explanation, Oshiomhole maintained that the destruction of businesses and the loss of lives could not be justified on the basis of registration status.

“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.

According to him, the attacks were carried out after mobs issued ultimatums to foreigners, a development he said the South African authorities failed to stop.

“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,” the senator added.

Daily Trust reports that the latest demand marks another chapter in Oshiomhole’s sustained campaign for tougher economic measures against South Africa over recurring attacks on Nigerians.

In May, during a Senate debate on xenophobic violence, the former Edo State governor urged the Federal Government to revoke the operating licences of major South African companies, including telecommunications giant MTN.

He argued that diplomatic protests alone had failed to protect Nigerians.

He later reinforced the position during a television interview, proposing that Nigeria should nationalise South African owned businesses, retain Nigerian shareholders where applicable and eventually reprivatise the companies under Nigerian ownership.

He insisted that the country must place the safety of its citizens above concerns over foreign investment.

Oshiomhole had argued that repeated attacks on Nigerians over the years had not resulted in meaningful accountability.

He said stronger economic pressure was necessary to compel South Africa to act against perpetrators and safeguard foreign nationals.

His latest proposal, however, did not secure the backing of the Senate.

Following deliberations, lawmakers rejected calls to confiscate or nationalise South African business interests and instead mandated the Senate Committee on Foreign Affairs to investigate the attacks on Nigerians in South Africa and report back within two weeks.

South African companies maintain significant commercial interests in Nigeria, with the country serving as one of the largest markets on the continent for firms in the telecommunications, banking and pay television sectors.

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