Lagos-Calabar highway: American investors decry destruction of N375bn investment
A group of American investors has called on President Bola Ahmed Tinubu to intervene in a dispute involving the destruction of their N375 billion investment in real estate. The investors, under the aegis of the Association of Nigerians in Diaspora, claim that the Minister of Works, Engr. David Nweze Umahi, ordered the demolition of their […]
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A group of American investors has called on President Bola Ahmed Tinubu to intervene in a dispute involving the destruction of their N375 billion investment in real estate.
The investors, under the aegis of the Association of Nigerians in Diaspora, claim that the Minister of Works, Engr. David Nweze Umahi, ordered the demolition of their properties, worth $250 million, in Okun Ajah, Lagos State, despite having the necessary certifications and approvals.
During a world press conference, the Managing Director of Winhomes Global Services Limited, Engr. Stella Ifeoma Okengwu, alleged that Umahi’s actions reveal a pattern of illegal demolition, abuse of power, bribery, corruption, and manipulation.
The letter stated that the investors had made significant contributions to Nigeria’s economy, repatriating $250 million in foreign direct investment, but had faced unjust treatment at the hands of the Ministry of Works.
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The investors are seeking President Tinubu’s immediate intervention to rescue their investment and restore faith in Nigeria’s governance and the rule of law.
The situation has sparked concerns about the impact on Nigeria’s economy and the confidence of foreign investors.