Two Kenyan investors are among 26 individuals to be stripped of Cypriot citizenship issued under the secretive passports-for-investment scheme.
The programme saw several billionaires use the country to hide their wealth.
Cyprus came under heavy criticism following disclosures that the island had become the gateway to Europe in exchange for a minimum of Sh220 million investment, which was used to buy passports and visa-free travel in European Union countries.
By Thursday evening, it was not clear which of the few Kenyans who bought into the scheme was targeted.
In the five years from the beginning of the plan to 2018, the Cypriot Government approved 1,864 citizenship applications.