The Federal Government has demanded proof or evidence of investment from Diaspora Nigerians who ‘claim’ to have invested $250 million in a real estate scheme promoted by Winhomes Global Services Limited.
Winhomes, a real estate scheme located in Okun Ajah Area of Lagos, Nigeria, is among several others that the Federal Government is said to have demolished to create right of way for the construction of the 700-kilometre Lagos-Calabar coastal highway.
At a stakeholders’ engagement in Lagos recently, where the issue of the estate and Landmark Beach Resort demolitions were raised, David Umahi, Minister of Works, challenged Stella Ifeoma, the chief executive of Winhomes Global Services, to publish the detailed financial records of diaspora investors from whom she purportedly raised $250 million.
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“There’s one Mrs Ifoma who goes to African restaurants in America and pays people little sums of money, saying she invested $250 million. If she collected the $250 million, those who paid to her should hold her responsible as nothing has been done on the land, just a gatehouse,” Umahi said.
Continuing, he advised that “the taxman should collect tax on the profit made on the fixing of that money because if she indeed collected it, she has to publish the collection so that we can take her seriously.
“Let her publish the banks housing that money, because he who alleges must prove it. We are tasking her to publish the $250 million in the banks and the interest accrued from such monies so that the taxman can collect the tax from it, as legally there is a tax to be paid on every fund that is fixed.”
The new interest in the demolition of the estate was triggered by a report which claimed that a group of American investors gathered in Houston, Texas, in the United States, to protest the demolition of the $250 million Winhomes Estate.
The protesters, according to the report, gathered and wielded placards with several inscriptions, calling on President Bola Tinubu to caution the Minister “for his incompetence and the destruction of our investments.”
Added to the protest, the Winhomes Global Services CEO, issued a statement, explaining that those who protested “are the legal owners of 17.03 hectares of land in Okun Ajah, Etiosa LGA, Lagos State. It is imperative to clarify that while I hold the title of CEO, my primary role is to act as the coordinator of properties for numerous Nigerians and foreign nationals in the diaspora who have united in our initiative to promote investment not only in Nigeria but throughout Africa.”
The statement added that those individuals had laboured in countries such as the United States, Canada, Germany, Belgium, and the United Kingdom, and they seek a secure place to call home – a vision that inspired the establishment of Winhomes.
“As a group, we did a comprehensive due diligence before acquiring the demolished property, securing the state governor’s consent and purchasing the land that is accompanied by a Certificate of Occupancy.
“Furthermore, we possess a Right of Way clearance from the Lagos State government, confirming that the land is free from all encumbrances and is not situated within the designated alignment of the Lagos-Calabar coastal road,” Ifeoma revealed.
She recalled that, in 2022, they started hearing worrisome rumours about the construction of the Lagos-Calabar Coastal Road. “Initially, we had no concern, as our property did not fall within the established route. However, following the appointment of David Umahi as the Minister for Works, significant deviations from the designated alignment were proposed.
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“These happened despite the minister’s assurances, in both private and public, particularly during stakeholders’ meetings at Eko Hotel in Lagos, that he would adhere to the original plan. But instead, he chose to seize property from those who have not built along the alignment”, she noted.
The CEO recalled further that the Minister initiated the demolition of properties in the Winhomes Estate, describing the action as a direct violation of the directives issued by the Federal High Court of Lagos State, which mandated that he, along with HiTech, the Attorney General of the Federation, and the Lagos State Government, should refrain from any construction activities, pending the resolution of the case.
