Connect with us

Motherland News

Egyptian citizenship sold to foreigners for $400,000.

Published

on

Share this...
Share on Facebook0Share on Google+0Tweet about this on Twitter0Share on LinkedIn0

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.

FOLLOW US ON:
 INSTAGRAMLINKEDINYOUTUBETWITTER & FACEBOOK

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.

TO DOWNLOAD OUR MOBILE NEWS APP CLICK HERE
WATCH RUSSIA 2018 HIGHLIGHTS HERE

REUTERS

Share this...
Share on Facebook0Share on Google+0Tweet about this on Twitter0Share on LinkedIn0

Motherland News

Mali: Apex court upheld Keita’s re election

Published

on

Share this...
Share on Facebook0Share on Google+0Tweet about this on Twitter0Share on LinkedIn0

Mali’s constitutional court on Monday confirmed President Ibrahim Boubacar Keita’s re-election in a run-off ballot, rejecting fraud accusations by the opposition candidate.

The decision clears the way for Keita to be inaugurated next month for a second five-year term, at a time when Malian authorities are contending with rising violence by jihadist groups and ethnic militia.

Challenger Soumaila Cisse had contested the electoral commission result of the Aug. 12 vote, which showed Keita winning 67 percent.

FOLLOW US ON:
 INSTAGRAMLINKEDINYOUTUBETWITTER & FACEBOOK

The election was tainted by armed attacks in the centre and north, where hundreds of polling stations remained closed, and a turnout of only 34 percent reflected fears of violence as well as voter apathy.

Cisse says he would have won 51 percent of the vote but for ballot box stuffing and other cheating by Keita’s camp. Keita rejected the allegations.

The European Union observer mission and other local and international monitors said that, despite a number of irregularities and disruptions, they saw no evidence of fraud.

TO DOWNLOAD OUR MOBILE NEWS APP CLICK HERE
WATCH RUSSIA 2018 HIGHLIGHTS HERE

Share this...
Share on Facebook0Share on Google+0Tweet about this on Twitter0Share on LinkedIn0
Continue Reading

Motherland News

Nigeria: More bodies discovered from collapsed building in Abuja

Published

on

By

collapsed-building-1
Share this...
Share on Facebook0Share on Google+0Tweet about this on Twitter0Share on LinkedIn0
About four more bodies have been recovered from the rubble of the four-storey building which collapsed in Jabi, Abuja on Friday.
 
The bodies were recovered during the ongoing evacuation of debris from the site on Monday.
 
The Federal Capital Territory Administration and the National Emergency Management Agency had on Saturday ended the rescue operation at the site after six persons and one dead body were evacuated from the building on Friday.

But relatives of the victims had protested the decision of the government, insisting that about 18 workers were still trapped under the rubble.

They were dispersed by policemen who fired tear gas and shots into the air.

The rescue team consisting of officials of FCT Emergency Management Agency, National Emergency Management Agency, firefighters and Julius Berger Plc ended the rescue operations around 8am after they failed to find victims.

But the youths who were annoyed by the removal of the payloaders and other equipment attempted to take over the site, insisting that many victims were still trapped under the debris and should be rescued.

The Coordinator, Abuja Municipal Metropolitan Council, Umar Shuaibu, had explained that the rescue workers could not find any signs of life or body, adding that they deployed the necessary equipment for the job.

He disclosed that only one died out of the seven victims that were rescued, insisting that no other casualty was discovered during the overnight rescue operation.

Share this...
Share on Facebook0Share on Google+0Tweet about this on Twitter0Share on LinkedIn0
Continue Reading

Facebook

Advertisement
Advertisement

Trending

Copyright © 2018 Anttention Media. All rights reserved