Stakeholders are calling on President Bola Ahmed Tinubu to intervene in a dispute surrounding the Lagos-Calabar Coastal Highway project, warning that the interests of diaspora investors are at risk.
The concern was raised by Engr. Stella Okengwu, Chief Executive Officer of Winhomes Global Services Ltd, who stated that confidence among foreign investors is being undermined.
Okengwu alleged that actions by the Minister of Works, Engr. David Umahi, threaten investor confidence and could subvert the rule of law. She identified the affected project as Winhomes Estate, a $250 million diaspora-backed housing and tourism development conceived to align with President Tinubu’s Renewed Hope Agenda.
According to her, Winhomes legally acquired 20 hectares of land, developing it into a serviced estate with 2,500 plots, each valued at ₦150 million. She stated that a diversion of the coastal highway route has affected approximately 400 plots, leading to an estimated total loss of ₦85 billion. “This is diaspora sweat and real capital — now endangered by ministerial overreach,” Okengwu said.
The CEO further accused the minister of improperly invoking the President’s name in a matter that is still sub judice. She clarified that the case (Suit No. FHC/L/CS/10063/25) is ongoing before Justice Akintayo Aluko at the Federal High Court in Lagos and that no judgment has been delivered. “Any attempt to revoke land titles mid-case is contemptuous and unconstitutional,” she asserted.
Addressing the provenance of the project’s funding, Okengwu explained that investments were channeled through legal financial platforms such as Sendwave, MoneyGram, and Western Union, all regulated by the Central Bank of Nigeria. She added that Winhomes is certified by the Special Control Unit Against Money Laundering (SCUML), affirming the legitimacy of all financial inflows.
Okengwu called on President Tinubu to take several specific actions: halt further public comments on the case, reaffirm the independence of the judiciary, order a transparent valuation of investor losses, and facilitate a dialogue between Winhomes and the Ministry of Works. She also urged an investigation into alleged irregularities linked to the project.
“Mr. President, this is a moment for decisive leadership. Either we protect the Constitution and investor confidence, or we allow ministerial impunity to erode decades of trust. The world is watching,” she stated.
She concluded by warning that such disputes could deter future foreign direct investment and undermine a viable model for diaspora-led national development.
