66 Nigerians obtain Antiguan citizenship for $6.6m

Passports

At least 66 persons of Nigerian origin received Antiguan passports between January and June 2024, new reports from Antigua & Barbuda’s Citizenship-by-Investment Unit show.

Through the programme’s headline $100,000 National Development Fund contribution, the Nigerians and their accompanying family members paid over US$6.6m into the island nation’s treasury during the period.

The report, presented to its Parliament on October 15, 2024, records 739 approved applications across all nationalities, a leap of more than 200 per cent from the same period the previous year.

Nigeria emerged as the third-largest source market, behind China and the United States, and the highest number of Africans obtaining Antiguan citizenship through the NDF route.

South Africa, Egypt, Kenya and Ghana follow at a distance, each accounting for single-digit applications.

Globally, the 10 foreign nationalities with the highest number of applications into Antigua’s CBI scheme were China, the United States, Nigeria, Turkey, Russia, India, Bangladesh, Iran, South Africa, and Lebanon.

The CIU attributed the surge to geopolitical uncertainty and an impending fee increase.

In August 2024, the Gaston Browne-led administration adjusted the minimum NDF contribution to $150,000 for a family of four, prompting many investors to file early.

Wealth-management analysts revealed that clients with pre-approval letters “locked in the old rate” before the deadline, explaining the unusually high volume for the six months. Punch