By: Chioma Madonna Ndukwu
Moghalu’s Wife Defends ‘Invest in Lagos at Your Own Peril’ Remark, Says She Has No Apology to Offer
Maryanne Moghalu, wife of former Central Bank of Nigeria (CBN) Deputy Governor and presidential hopeful Kingsley Moghalu, has reaffirmed her controversial statement warning investors to tread carefully in Lagos State.
She insists she owes no one an apology for her comment that went viral in 2024: “Invest in Lagos at your own peril.”
Her remarks resurfaced after social commentator Ogbeni Dipo revisited them during an online exchange with governance expert and lawyer, Dr. Joe Abah.
The discussion, initially centered on ethnic slurs and governance, reignited public debate over the Lagos State Government’s demolition of illegal and unapproved structures, an exercise that had left many property owners counting their losses.
Defending her position on X (formerly Twitter), Mrs. Moghalu maintained that her statement was a personal opinion rooted in concern for investors affected by what she described as arbitrary demolitions.
“I have absolutely nothing to apologise for about my statement. It was personal, and I reserve the right to make it. When an elder like you chooses to play these games, you become what we call Okenye n’agwo ofe,” she wrote.
She argued that investors who build with official approval should not have their properties destroyed without due process or compensation, adding that her comments were not ethnically motivated.
“These buildings were allowed, and taxes collected on them. Proper due process must be followed and adequate compensation paid where appropriate. It was never about tribe; many non-Igbo properties were also demolished,” she explained.
Her response followed Dr. Abah’s remark that her earlier warning would not deter him, or anyone else, from investing in Lagos or elsewhere in Nigeria.
The debate has revived discussions around property rights, governance accountability, and investor confidence in Nigeria’s commercial hub.
The Lagos State Government, under Governor Babajide Sanwo-Olu, had defended the demolition exercise as part of a long-term flood prevention and urban renewal plan.
Observers say the controversy underscores growing concerns among Nigerians about urban planning, fairness, and the protection of citizens’ investments across the country.
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