Diasporan real estate investors in WinHomes Global Estate have expressed anguish over the demolition of their investments in the Okun Ajah area of Lagos State.

In a passionate appeal, the investors called for President Bola Ahmed Tinubu’s urgent intervention and an investigation into alleged corruption within the Ministry of Works.

Addressing the media yesterday, Stella Okengwu, a prominent diasporan investor leading the charge through WinHomes Global Estate, revealed that their real estate development, which had attracted substantial foreign direct investment (FDI), was destroyed on October 5, 2024.

She lamented that the demolition, carried out under the orders of the Federal Ministry of Works, allegedly violates the 2006 gazetted alignment for a proposed coastal road project.

Okengwu stressed that she, alongside fellow investors, had responded to President Tinubu’s call for diasporans to return home and contribute to Nigeria’s economic growth.

According to her, 70 per cent of subscribers, who were diasporans, injected millions into the Nigerian economy through the WinHomes Investment Scheme.

“The investors meticulously followed legal protocols, obtaining all necessary documentation, including a certificate of occupancy, governor’s consent, and coastal road clearance. However, the recent actions of the Minister of Works, David Umahi, have cast a shadow over these efforts.”

Okengwu accused the Ministry of illegally diverting the coastal road from its authorised alignment, destroying the WinHomes estate without prior notice or legal justification.

She further alleged corruption within the Ministry, claiming that residents of Ocean Bay paid to have their properties spared. She described how military personnel, Lagos State Task Force officials, and Ministry staff forcefully removed building materials and assaulted site personnel, saying: “We were blindsided by the demolition. This is not just about money. This is about undermining the President’s investment agenda and eroding the trust of diasporans willing to bring their resources back to Nigeria.”

Okengwu called on Tinubu to intervene directly, restore the original coastal road alignment, and ensure that the Senate Committee on Works investigates the alleged corruption. She lamented the alleged brazen, rash, and punitive way the Ministry of Works embarked on the destruction to make way for the Lagos-Calabar Highway.

According to her, the minister flouted all laws, degraded men and women and communities, and, above all, destroyed businesses, most especially by demolishing the WinHomes Estate investment.

Okengwu warned that the Minister’s actions threaten to derail the President’s foreign investment drive and tarnish Nigeria’s reputation as a viable destination for global capital.

She said: “The Minister of Works, David Umahi, did not consider the environmental impact of siting a coastal road project through residential property investment around the Okun-Ajah corridor before diverting it from the initial master plan/gazette of 2006.

“As diasporan investors, we are not seeking financial compensation of any kind from the government, but rather appeal to the President to mandate the Minister of Works to revert to the 2006 gazetted alignment, as we ensured proper and detailed due diligence was done before this property was purchased.

“We are law-abiding citizens. We have followed every legal process. The destruction of our property is an attack on the integrity of the investment landscape in Nigeria.

“We are appealing to the President to hold his officials accountable and ensure this miscarriage of justice is corrected.

“As the outcry over the demolitions grows, the future of diasporan investment in Nigeria hangs in the balance, with calls for transparency and justice at the forefront of this unfolding crisis.”