A group of Nigerians in the diaspora, under the aegis of the Association of Nigerian Diaspora Investors, has called on relevant authorities to intervene and save their $250m investments affected by the Lagos-Calabar Highway project.
The investors, who are mostly based abroad, alleged that their properties in Okun Ajah, Lagos State, had been illegally demolished despite having all the necessary documentation and approvals.
The association, in a letter to President Bola Tinubu obtained by TheNigerian Metro on Sunday, stated that the demolition was carried out without prior notice or engagement, leaving many of them victimised and abandoned.
The letter, which was signed by Olubokun-Basorun, Femi Adekoya, Arinze Onwumelu and Kimberly Stark, on behalf of over 500 affected investors, said their fate was shattered by an unwarranted demolition of their investments, executed without prior engagement or legal notification.
“We are calling on the government to intervene and save our investments. We have done everything right, and yet our properties have been demolished without any explanation or compensation.
“Motivated by a commitment to contribute to the nation’s economy, 70% of these investors are diasporans who have shown their faith in Nigeria by repatriating funds for housing development and other socio-economic benefits.
“These investors undertook comprehensive due diligence before committing, ensuring their properties had the requisite certificates, including occupancy permits and official clearance from the coastal road right of way,” the letter read in part.
They also alleged that the coastal roads were diverted to favour some properties, encroaching on the land of law-abiding Winhomes investors.
The investors also expressed concern about the lack of transparency and accountability in the handling of the project and called on the government to launch an investigation into it.
“We urge the government to take immediate action to address our concerns and save our investments. We are committed to contributing to the development of Nigeria, but we need the government to create a conducive environment for us to do so.”
“This not only raises serious ethics concerns but also highlights an evident disparity in treatment based on compliance with the law,” the letter added.
They added that the need for transparent actions and accountability was paramount. The recent panel set up by the Ministry of Environment expressed concerns about the coastal road diversion, noting it did not consider ecological impacts that could exacerbate erosion in the area.”
According to the investors, “Winhomes Global Services Ltd is a real estate development company established to empower investors in Nigeria and those in the diaspora to invest in properties and build their dream homes in Nigeria, with over 500 stakeholders living in different parts of the world.”
The investors further disclosed that there were seven pending legal cases against the Federal Ministry of Works around Okun Ajah but the ministry had yet to respond.
“To our astonishment on October 5, 2024, the Ministry of Works officials, accompanied by military personnel and Lagos State Task Force officials, stormed our site and demolished Winhomes properties, assaulted their workers onsite, confiscated their phones and proceeded to remove essential building materials worth hundreds of millions of naira claiming they had orders from above to do so,” the letter further stated.
