No apology for saying ‘Invest in Lagos at your own peril’ – Maryanne Moghalu

No apology for saying ‘Invest in Lagos at your own peril’ – Maryanne Moghalu

Maryanne Moghalu, wife of former Central Bank of Nigeria (CBN) Deputy Governor Kingsley Moghalu, has reaffirmed her contentious 2024 warning advising investors to exercise caution in Lagos, declaring she has “nothing to apologise for.”

Her statement resurfaced amid an online exchange between governance expert Dr. Joe Abah and social commentator Ogbeni Dipo, who revisited Moghalu’s earlier remarks in light of ongoing ethnic and governance debates. Dipo reminded Abah of Moghalu’s cautionary words—“Invest in Lagos at your own peril”—issued after the Lagos State Government demolished several structures deemed illegal or lacking proper approval.

Responding to the renewed criticism, Abah dismissed Moghalu’s stance, asserting it would not deter him or others from investing in the state. Moghalu, however, stood her ground, urging Abah to “leave me out of your stories” and emphasizing that her comments were personal and rooted in principle.

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“I have absolutely nothing to apologise for about my statement. It was personal, and I reserve the right to make it,” she wrote on X. “If you invest with approval and it is destroyed at will, I will say do not invest there. Period.”

She further argued that the demolitions were unjust, pointing out that taxes had been collected on many of the affected properties. Moghalu also rejected claims that her comments were ethnically charged, insisting her concerns centered on fairness and due process.

“Anyone who decides to make it about tribe, it is on them,” she added. “Respect is a beautiful thing.”

Her remarks have reignited broader discussions around Lagos’ demolition policies, investor confidence, and the delicate balance between governance and ethnic sensitivity in Nigeria’s political landscape. As the debate continues, stakeholders are calling for clearer urban development policies and stronger safeguards for property rights.

No apology for saying ‘Invest in Lagos at your own peril’ – Maryanne Moghalu