Nigerians who invested heavily in Caribbean “golden passports” are grappling with financial losses and uncertainty as the United States and European Union intensify scrutiny on nations offering citizenship through investment programs.
The Citizenship by Investment (CBI) schemes, popular among Nigerians and others seeking to bypass weak passports or legal issues, are now under pressure due to concerns over unvetted foreign nationals.
Caribbean countries have long attracted foreigners, including Nigerians, with CBI programs requiring investments of $125,000 to $250,000 for citizenship.
However, the schemes have been exploited by individuals evading criminal charges or travel restrictions.
As Western nations tighten migration policies, the U.S. and EU are cracking down, denying visas to many Caribbean passport holders.
Kafilat Alawiye, a Nigerian who spent $208,000 on a Saint Kitts and Nevis passport, told Peoples Gazette her U.S. visa application was recently rejected.
Similarly, a 29-year-old Nigerian, who paid $200,000 for an Antigua passport in 2023, was also denied a U.S. visa.
The CBI programs’ reputation has suffered due to high-profile cases.
However, the U.S. has responded by adding five CBI nations—Antigua and Barbuda, Saint Lucia, Vanuatu, St. Kitts and Nevis, and Dominica—to a list of 36 countries under review for potential travel bans.
