Stella Okengwu, a real estate investor, has criticized the significant losses that developers have suffered as a result of the development of the Lagos-Calabar Coastal Highway project.
She insisted that the Federal Government’s payments to property owners were below the value of their investments, as she asserted on Wednesday on Channels Television’s The Morning Brief.
“People who paid between 25 and 30 million dollars for each plot of serviced land, including drainage and sandfilling, are now being paid.” Some families have lost their homes.
She claimed that “one family was paid between $20 and $30 million for a house worth more than $300 million.”
Read more about Lagos-Calabar Coastal Highway: A ” Scam ” and Babachir Lawal Alleges.
She alleges that some Ministry of Works officials demanded money to stop the demolition of her property.
According to Okengwu, officials from the Ministry of Works acknowledged privately that some developers had bribed their way into approvals, revealing her personal experience.
She claimed a federal controller told her, “You’re talking too much, you’re talking too much.” Get your subscribers to contribute $200,000 to the ministry.
I have affected over 390 plots. These investors were diaspora Nigerians who had faith in me for their investment. They would assume I was responsible for what he said if I explained it to them.
The minister was harsh when I called him. They arrived the following day and began demolitions, she explained, but I apologised.
Further, she continued, “There is something they call an eminent domain in America. Your property will be secured if a government decides to seize it for eminent domain. The outcome will be good.
Source: Channels TV
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