Coastal Road: Okengwu Tackles Works Minister, Denies Claim Winhomes Paid N50m for Ajah Land
- Winhomes CEO Stella Okengwu has dismissed claims that the company paid N50 million for land in Okun Ajah, describing the allegation as false and misleading
- Okengwu said Winhomes made documented cash payments of N2.823 billion for the land, with total economic commitments amounting to N4.323 billion
- The company warned that misinformation surrounding the Okun Ajah land could damage investor confidence and Nigeria’s global credibility
The Chief Executive Officer of Winhomes Global Services Ltd, Engr. Stella Ifeoma Okengwu, has rejected claims that her company paid only N50 million to acquire land for its estate in Okun-Ajah, Lagos.
She described the allegation attributed to the Minister of Works, Engr. David Umahi, as false, misleading and reckless.
Source: Facebook
Okengwu made her position known in an open address released on Friday, December 19. She said the figure had no connection to any transaction involving Winhomes and did not exist in the company’s records.
Winhomes CEO tackles Works minister
According to her, the claim misinformed the public and risked damaging Nigeria’s standing as an investment destination.
“Nigeria must be governed by facts—not fiction. The public statement credited to the Honourable Minister of Works that Winhomes Estate paid only N50 million for its land in Okun Ajah is completely false. It is misleading. It is reckless. And it gravely undermines Nigeria’s credibility as a destination for investment,” Okengwu said.
She stated that the company had no knowledge of the origin of the N50 million figure. She added that it was neither paid nor discussed at any stage of the land acquisition.
“Let the record be clear: N50 million was never paid—at any time, for any portion of this land,” she said.
Winhomes CEO tells her side of story
Okengwu explained that Winhomes lawfully acquired the Okun Ajah land from recognised land-owning families, legitimate stakeholders and individual owners with valid interests. She said all transactions were documented and all payments were traceable.
She noted that beyond acquiring the land, the company invested heavily in clearing dense forest areas, mobilising equipment and constructing a major access road linking Coplag to Okun Ajah before full development began.
The CEO said disputes later arose over parts of the land. One involved the Etisalat Cooperative, which claimed ownership of a portion. According to her, the company opted for dialogue and resolved the issue through financial settlement. She added that another claim led to litigation, which was settled through lawful processes and court-backed agreements.
Okengwu said Winhomes made additional payments to address overlapping interests, access challenges and community stabilisation matters.
She put the total documented cash payments related to the land at N2.823 billion, excluding social responsibility contributions. She added that vehicles provided to community stakeholders were social-impact investments, not inducements.
“These were not bribes. They were not political inducements. They were deliberate social-impact investments,” she said.
She estimated Winhomes’ total economic commitment at N4.323 billion. She called on the National Assembly to investigate the matter, warning that reducing verified investments to unsupported figures threatened property rights and investor confidence.
She urged the government to uphold the rule of law and protect Nigeria’s global credibility.
Sanwo-Olu shows cooking skills
Earlier, Legit.ng reported that Lagos state governor, Babajide Sanwo-Olu, joined residents on Sunday, December 14, 2025, at the Lagos Food Festival, where he celebrated the city’s diverse cuisine and youthful culture.
The governor did not just observe the activities but also took part in cooking, drawing cheers from the crowd as he tried his hand at food preparation.
Source: Legit.ng
