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Umahi threatens EFCC petition over $250m Diaspora investment claim

The Minister of Works, Senator Dave Umahi, has warned that he will petition the Economic and Financial Crimes Commission (EFCC) […]

Umahi threatens to drag estate developer to EFCC over $250m investment claim — Daily Nigerian

The Minister of Works, Senator Dave Umahi, has warned that he will petition the Economic and Financial Crimes Commission (EFCC) over allegations made by Winhomes Global Services Ltd. The company claims that Nigerians in the diaspora invested $250 million in its estate, which it says was affected by the realignment of the Lagos‑Calabar Coastal Highway.

During an inspection of the highway on Monday, Senator Umahi expressed doubts about Winhomes’ assertion that it purchased 12 hectares of land in the area for N50 million in 2022. He questioned the legitimacy of the transaction, suggesting that the villagers may have been cheated. The minister noted that the highway realignment actually impacted only four hectares, leaving Winhomes with eight hectares. According to Umahi, the Lagos State Government holds the legal right to the land, having revoked and gazetted the right of way for federal use. The dispute had previously been taken to court by Winhomes, but the court ruled in favour of the federal government.

Senator Umahi emphasized that he has not engaged in any negotiations with Winhomes and considers the matter closed. He plans to write to the EFCC to investigate the claim that $250 million was invested in Winhomes Estates, located in Lagos State. He pointed out that such a substantial investment would require approvals and documentation, which Winhomes has not provided. Umahi also questioned the remittance of funds from diaspora investors, noting that the Central Bank of Nigeria would have records of such transactions.

The minister has given Winhomes seven days to submit relevant documents supporting their allegations; failing that, he expects an apology. The controversy surrounding the Lagos‑Calabar Coastal Highway and Winhomes’ claims underscores the need for transparency and accountability in large‑scale investments and infrastructure projects. As the situation unfolds, it remains to be seen how Winhomes will respond to Senator Umahi’s demands and the EFCC’s potential investigation.

Ifunanya

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