Nigeria, Feb. 26 -- U.S. President Donald Trump has proposed a controversial immigration program, the "Gold Card,"which would grant residency and a "path to citizenship" to foreign investors willing to pay a $5 million fee.

The plan to launch in two weeks is to replace the existing EB-5 investor visa program, which Trump officials have criticized as "fraudulent and inefficient."

Unlike the EB-5 program-which requires foreign investors to inject capital into job-creating U.S. businesses-the Gold Card would allow wealthy individuals to secure permanent residency simply by directly paying the government. The administration claims the move will boost the economy while maintaining strict controls on other immigration forms.

"We're going to ...