Nigerian HNIs face FX, compliance hurdles in Citizenship by Investment - Passport Legacy MD
Oritsejafor of Passport Legacy Nigeria identifies currency volatility and strict compliance as top barriers for wealthy Nigerians pursuing second citizenship, despite strong demand for global mobility and wealth planning. Many mitigate FX risk by funding applications from foreign accounts, citing Nigerian banks' surprising efficiency in processing investment migration transactions.
She clarifies that CBI isn't a 'japa' tool—clients remain rooted in Nigeria using second passports for travel freedom, family opportunities, and wealth strategies, not relocation. Investment minimums are set by participating governments, not agents who merely facilitate processing. Demand has shifted to Grenada and St. Kitts-Nevis due to 3-7 month approval times (down from nearly two years), with Grenada's E-2 Visa access being a key draw for Nigerians.
Q4 2025 data shows Nigeria supplied 16% of Grenada's CBI applications—top source market—while compliance requires verifiable documentation for wealth claims like real estate. Applicants must substantiate every fund source amid rigorous AML checks worldwide.
Will the benefits of visa-free travel and wealth preservation outweigh FX risks and documentation hurdles for your international mobility plans?