Developer rejects minister’s fraud allegation, source of project funding

The developer of Winhomes Global Services Limited, Stella Okengwu has rejected fraud allegations against her by David Umahi, Nigeria’s minister of works.

The developer also takes exception to Umahi’s questioning of the source of her project funding, and also for doubting the legitimacy of her investment.

Okengwu, in a statement in Lagos, fired back at the minister, challenging him to explain the source of his own wealth and property holdings across Lagos, Enugu and Ebonyi State, where he previously served as governor.

“You called me a fraud; you questioned how I brought in $215 million as an investor, and you mocked my credibility,” she said.

“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.

This crossfire stemmed from allegations by WinHomes that the Federal Ministry of Works, under Umahi’s leadership, diverted the route of the Lagos-Calabar coastal highway into its estate project in Okun Ajah area of Lagos, despite a subsisting court order.

The minister has, however, denied the claims, insisting that due process was followed.

Okengwu raised concerns about the implications of this dispute on investor confidence, warning that such controversies could discourage much-needed investment in Nigeria’s housing sector.

“At a time Nigeria needs investment the most, can investors truly trust the system, or are we building on uncertainty?” she added.