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Egyptian citizenship sold to foreigners for $400,000.

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Foreigners interested in Egyptian citizenship will deposit at least 7 million Egyptian pounds ($392,000) and then hand it over to the Treasury after five years, an amendment passed by parliament on Monday said.

Egypt has been looking to boost its finances and draw back foreign investment that fled the country after its 2011 uprising, notably through a series of tough reforms tied to a $12 billion IMF loan programme it began in late 2016.



Under the new law, foreigners who make a deposit of 7 million Egyptian pounds or the equivalent in foreign currency receive the option of taking citizenship if they surrender the deposit after five years.

It was not immediately clear what economic benefits a foreigner would obtain by acquiring citizenship as Egypt places few restrictions on foreign investment projects, although it does forbid foreign ownership of agricultural land and property in the Sinai peninsula, where it faces an Islamist insurgency.

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The minister of interior may grant Egyptian citizenship to all foreigners that have resided in Egypt for a period of at least five consecutive years prior to applying for naturalisation,” the amendment said.

The head of parliament’s defence and national security committee, General Kamal Amer, said the new law compliments recent amendments to an investment act that grants incentives to foreigners to invest in the country.

He said foreigners who acquire citizenship would enjoy no political rights until after five years of citizenship and would need 10 years to be eligible for election or appointment to a representative body.

Spouses and children will not be eligible for citizenship unless they reside in Egypt, he added.

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24 Hours Across Africa

Nigeria: Activist freed after months of detention

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Omoyele Sowore a Nigerian human rights activist, pro-democracy campaigner, and founder of an online news agency Sahara Reporters has been released.

On August 3, 2019 Sowore was arrested by the Nigerian Department of Security Services (DSS) for alleged treason after calling for a protest tagged Revolution now.

A judge in Abuja ordered the secret police to free Mr Sowore and pay a fine for their repeated refusal to comply with court rulings on the case.

The police had previously refused to grant him bail, despite being told to do so.

He has pleaded not guilty to treason, money laundering and cyber-stalking.

Human rights campaigners say the case is part of a broader move to restrict freedom of speech in Nigeria.

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24 Hours Across Africa

Nigeria: Court sentenced Orji kalu to 12 years in prision

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President Muhammadu Buhari regime has so far tackle corruption as promised to Nigerians before affirming the Nigerian president.

Though, one can not say whether his efforts are being recognize by Nigerian citizens after coming under criticism with his reform plans.

A Federal High Court in Lagos on Thursday sentenced a former Governor of Abia, Orji Kalu, to 12 years’ imprisonment for N7.2 billion fraud and money laundering.

Orji Kalu is a business tycoon who served as the governor of Abia State, Nigeria from May 29, 1999, to May 29, 2007. Prior to his election, he served as the chairman of the Borno Water Board and the chairman of the Cooperative and Commerce Bank Limited.

Kalu was also a member of the Peoples Democratic Party (PDP), Progressive Peoples Alliance (PPA) and the chairman of the PPA Board of Trustees.

He was the party’s presidential candidate in the April 2007 general election. He is currently a member of the ruling All Progressive Congress (APC) after he officially announced his resignation as a PPA BOT.

The court convicted Kalu, now a senator, on all the 39 counts preferred against him by the Economic and Financial Crimes Commission charge.

Kalu was charged alongside a former Commissioner for Finance, in the state Jones Udeogo, and his company, Slok Nig. Ltd.

While Kalu and his company were found guilty of all the 39 counts, Udeogo was convicted on 34 counts and sentenced to 10 years’ imprisonment.

The court ordered that the Slok Nig. Ltd. be wound up and its assets forfeited to the Federal Government

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