Diasporan Estate Investors Lament Demolition of Property, Call for President Tinubu’s Intervention

Diasporan real estate investors have expressed their grief over the demolition of their investments in the Okun Ajah area of Lagos State, calling for an urgent intervention from President Bola Ahmed Tinubu, and an probing into the working of the Ministry of Works.

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.

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

“We collaborated to acquire a substantial tract of land to support our esteemed president’s economic agenda and proceed with its comprehensive development.

“Driven by our commitment to invest in Nigeria, we inspired our fellow diasporans to do the same,” she stated

Through WinHomes Investment Scheme, 70 percent of subscribers were diasporans, injecting millions into the Nigerian economy.

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

According to her, the investors had meticulously followed legal protocols, obtaining all necessary documentation, including a certificate of occupancy, governor’s consent, and coastal road clearance.

She said the recent actions of the Minister of Works, David Umahi, have cast a shadow over their efforts.

Okengwu accused the ministry of alleged diversion of the coastal road from its authorised alignment, resulting in the destruction of 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 buildings spared.

According to her, “We were blindsided by the demolition,” describing how military personnel, Lagos State Taskforce officials, and the ministry staff forcefully removed building materials and assaulted site personnel.

Okengwu said: “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.”

She called on President Tinubu to intervene directly, restore the original coastal road alignment, and ensure that the Senate Committee on Works investigates the alleged corruption.

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.

“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 President Tinubu to hold his officials accountable and ensure that this miscarriage of justice is corrected.”