Nigerians in Diaspora Raise Alarm Over Destruction of Over N375 Billion Investment in Real Estate by Minister Dave Umahi
In a shocking development, Nigerians in the diaspora, under the banner of the Association of Nigerians in Diaspora, have expressed their outrage over the destruction of their multi-billion-naira investments in Nigeria’s real estate sector. They have sent a desperate appeal to President Bola Ahmed Tinubu, urging him to intervene in what they allege is a deliberate campaign to dismantle their investments, allegedly carried out by Nigeria’s Minister of Works, Engr. David Nweze Umahi.
The call for intervention came to light when Engr. Stella Ifeoma Okengwu, the Managing Director of Winhomes Global Services Limited, delivered a stirring open letter to President Tinubu during a high-profile World Press Conference held in Houston, Texas, on Sunday, February 23, 2025. The event, which took place at 11:00 PM Nigeria time on Westheimer Road in Houston, Texas, was streamed online, drawing the attention of both Nigerians at home and abroad to the plight of these investors.
In her letter titled “Address to the President: An Indictment of Minister Engr. David Umahi,” Engr. Okengwu detailed the disheartening tale of their investments — a staggering $250 million (approximately N375 billion) — which had been poured into acquiring and developing a 17.03-hectare estate in Okun Ajah, in Etiosa Local Government Area (LGA) of Lagos State. This real estate project, part of a broader vision to stimulate economic growth and development through foreign direct investment, has now been threatened by what they believe are reckless actions taken by Minister Umahi. The Minister is accused of initiating the demolition of their properties, dismissing their investments as “bare land” — a claim which they vehemently dispute.
The open letter begins with Engr. Okengwu’s official condemnation of Engr. Umahi’s conduct, outlining a disturbing series of events that have undermined their legal and financial standing in Nigeria. “I, Engr. Stella Ifeoma Okengwu, Managing Director of Winhomes Global Services Limited, hereby present a grave indictment against Engr. David Umahi, the Minister of Works, and the Federal Ministry of Works of Nigeria,” she writes. “The actions of this minister reveal a disturbing pattern of illegal demolition, abuse of power, bribery, corruption, manipulation, and witch-hunting.”
Winhomes Global Services Limited, a reputable real estate company, had made substantial contributions to Nigeria’s economy by repatriating $250 million in foreign direct investment. Their efforts were in line with President Tinubu’s administration’s goal of encouraging Nigerians in the diaspora to invest in the country. Despite adhering to all legal requirements and obtaining the necessary certifications and approvals for the project, Winhomes has become the target of what they describe as unjust treatment by the Ministry of Works.
One of the key grievances raised in the letter is the Ministry’s sudden and unlawful alteration of the Lagos-Calabar Coastal Road alignment. In the first quarter of 2024, Minister Umahi allegedly ordered the diversion of the coastal road, encroaching on Winhomes’ investment property — a clear violation of the original alignment designated by the administration. This action, they argue, is not only an illegal land grab but also an example of selective demolition practices that have raised questions about the integrity of the ministry.
In the open letter, Engr. Okengwu accuses Minister Umahi of being involved in corrupt dealings linked to the Ocean Bay Estate, where certain individuals who have illegally encroached upon the coastal road appear to have been spared from demolition. Meanwhile, law-abiding investors like Winhomes have been punished. The Minister’s public attacks against Engr. Okengwu, where she was branded a “land grabber” and faced threats, have added further fuel to the fire.
“The Minister’s actions are not just a violation of property rights,” Engr. Okengwu continues. “They are an affront to the rule of law and to the integrity of this administration. His behavior undermines the very principles of governance that President Tinubu has worked hard to promote.”
In her letter, Engr. Okengwu also touches on an alarming pattern of deceit and manipulation. The minister’s claims regarding the presence of utility cables in the Okun-Ajah area — which allegedly justifies his actions — are debunked in the letter. After conducting thorough investigations, the team at Winhomes discovered that no cables were embedded in the area, a fact confirmed by the authorities in charge of the design, further highlighting the minister’s disregard for the truth.
The open letter goes on to accuse Minister Umahi of openly flouting a court order issued by Justice Aluko of the Federal High Court of Lagos State. The court had ruled that no construction or demolition activities should take place on the land in question until the case was resolved. Despite this, Umahi continued with his actions, demonstrating a shocking disregard for the judicial process.
As the situation continues to unfold, Engr. Okengwu calls for urgent intervention from President Tinubu, stating that the actions of the Minister of Works are not only harmful to their specific investment but also a broader threat to Nigeria’s economic future. The letter concludes with a call for Minister Umahi’s immediate removal or honorable resignation, stating that the people of Nigeria deserve a leader who upholds the values of transparency, accountability, and respect for the rule of law.
Faduri Oluwadare Joseph, a former presidential aspirant and prominent figure in the Labour Party, also voiced his concerns during the press conference. He emphasized that if foreign investments in Nigeria could no longer be protected under President Tinubu’s leadership, it would send a dangerous message to potential investors worldwide. He warned that such actions could scare away foreign investments, ultimately hindering Nigeria’s economic growth.
Speaking on behalf of the Association of Nigerians in Diasporan Investors, Fadojoe declared: “We are gathered today to expose this unfortunate issue to the whole world. Our demands are simple and clear: We urge President Bola Ahmed Tinubu to look into Minister David Umahi’s handling of the Lagos-Calabar Coastal Roads Projects, halt the illegal demolitions, and investigate the corruption and bribery allegations.”
He went on to list their demands:
1. President Tinubu’s immediate intervention into the activities of Minister David Umahi in the Ministry of Works.
2. A thorough probe into the ongoing land grabbing and illegal demolitions in the Lagos-Calabar Coastal Roads Projects to protect investors.
3. The establishment of laws to protect foreign investors and their investments in Nigeria.
4. Ensuring that no one, regardless of status, is above the law.
5. Full restitution of any lands that were wrongfully seized or demolished.
6. An assurance from the government that diaspora investors can trust that their investments will be secured and protected.
Several other Nigerians in the diaspora also took the opportunity to voice their support for these demands. Malik, another Nigerian investor, called for greater transparency in project planning. “Any project that seeks to disrupt the lives and properties of citizens must be shared openly and discussed inclusively,” he stated. “We must ensure that the voices of the affected are heard.”
As the press conference continued, Engr. Okengwu took the floor once again, offering further clarification about Winhomes Global Services Ltd.’s involvement. “I am not just the CEO,” she explained. “I am a coordinator for Nigerians and foreign nationals in the diaspora who wish to invest in Africa, particularly in Nigeria. We have worked hard to establish a project that promotes security, growth, and stability.”
She stressed that all legal documentation for their Okun-Ajah property, including the Governor’s Consent and Certificate of Occupancy, had been properly obtained. The Lagos-Calabar Coastal Road project, she said, was always understood to follow a fixed alignment that did not interfere with their investment. However, under Minister Umahi’s stewardship, the project has been subjected to numerous unlawful deviations, putting their investment in jeopardy.
“The truth must be revealed,” Engr. Okengwu concluded. “These falsehoods must be exposed, and the integrity of Nigeria’s legal and political systems must be restored. We call on President Tinubu to act swiftly to ensure that justice prevails and that foreign investors can once again trust that their investments will be protected in Nigeria.”
With this open letter, the Association of Nigerians in Diaspora has thrown a spotlight on what they call a national scandal, urging the Nigerian government to take swift action before irreversible damage is done to the country’s reputation as an investment destination.
