Editorial Staff
2 months ago

Editorial Staff
2 months ago

Nigerian nationals submitted the largest number of CIP applications this year

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The latest financial report from January to June 2023 has been released by the Citizenship by Investment Unit (CIU).

The report discloses Lastly, the report reveals that Nigerian nationals submitted the most significant number of applications to the Citizen by Investment Programme this year, accounting for 21 percent of the total applications received.

The report also mentions a citizenship application for eight individuals worth US $125,000 that was submitted.

The report also states that as part of the urban beautification program under Lands and Urban Renewal Minister Maria Browne, the government spent EC $405,000 on purchasing palm trees.

The palm trees were planted along Friars Hill Road by National Housing Development and Urban Renewal Company Limited workers.

Although the report did not mention the palm tree species, sources suggest that they can grow up to 50 feet and regularly shed their boughs as they continue to grow.

Moreover, the report highlights that the government spent money on business hubs in the country for at least US $100,000 on three separate occasions.

On February 2, 2023, National Housing received a cheque of EC $270,000 for the construction of business hubs, while EC $300,000 was spent on the development of the City West business hub on March 8, and another $300,000 was spent on a business hub in City East on March 21.

The government has also planned to run electrical wires underground to prevent the palm trees from disrupting electricity in the area.

The report also notes that the government paid $500,000 each to the Accountant General on May 30 and 31 for payment to Caricement Antigua Ltd, a cement importing company in the Crabbes area.

St John’s Development Corporation received budgetary support amounting to $550,000 over the six-month period, a significant decrease from the $2 million they received last year.

Additionally, the report indicates that 71 percent of the total new applicants applied under the National Development Fund (NDF), compared to 78 percent of the total for the same period last year.

The NDF investment option requires a one-time minimum contribution of US$100,000 per application payment.

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