Umahi Slammed For Questioning Source of Income of Top Real Estate Mogul
- Stella Okengwu CEO of WinHomes Global Services Limited criticised Works Minister David Umahi over comments questioning the funding of her Lagos housing project
- The Federal Ministry of Works denied allegations of route diversion on the Lagos Coastal Highway insisting due process was followed
- Okengwu raised concerns over investor confidence in Nigeria’s real estate sector amid escalating disputes over land use and transparency
The Chief Executive Officer of WinHomes Global Services Limited, Stella Okengwu, has criticised the Minister of Works, David Umahi, over comments questioning the funding source of her company’s housing project.
The exchange has further escalated tensions surrounding the Lagos Coastal Highway project, amid allegations and counter-allegations involving land allocation and investor rights.
Source: Twitter
Dispute linked to Lagos Coastal Highway alignment
The disagreement stems from claims by WinHomes Global Services that the Federal Ministry of Works allegedly altered the alignment of the Lagos Coastal Highway into its estate development area in Okun Ajah, Lagos State, despite an existing court order.
The Ministry has denied the allegation, insisting that all procedures were properly followed and maintained that the project design complied with due process requirements.
However, the minister also raised concerns about the credibility of the developer and the financial structure behind the multi-million-dollar housing project.
Okengwu challenges minister over credibility remarks
Reacting in a statement, Okengwu dismissed the allegations, insisting that her company’s investment was legitimate and transparent.
“You called me a fraud. You questioned how I brought in $215 million as an investor. You mocked my credibility,” she said.
She further questioned the minister’s own financial record, pointing to his years in public office.
“But let me ask you what Nigerians are already asking. As a former governor, how did you build massive projects, including a hotel reportedly named after your child, and acquire properties across several states? How does a public servant amass such wealth?” she queried.
Investor confidence concerns raised
Okengwu warned that the public dispute could have wider implications for investor confidence in Nigeria’s real estate and infrastructure sectors.
“At a time Nigeria needs investment the most, can investors truly trust the system, or are we building on uncertainty?” she asked.
Growing public debate over transparency
The controversy has sparked wider discussions around transparency, land use governance, and the relationship between government authorities and private developers, particularly in high-value infrastructure projects.
Both parties maintain their positions as the dispute continues to attract public and industry attention.
Source: Legit.ng
