The Economic and Financial Crimes Commission (EFCC) has declared Olasijibomi Suji Ogundele, founder and Chief Executive Officer of Sujimoto Luxury Construction Limited, wanted in connection with an ongoing investigation into alleged diversion of funds and money laundering.
The anti-graft agency disclosed the development in a public notice issued by its Head of Media and Publicity, Dele Oyewale, and posted on the EFCC’s official X handle. According to the statement, Ogundele is wanted by the Commission’s Lagos Command, which has been probing financial transactions linked to his luxury property business.
The EFCC described Ogundele, 44, as a native of Ori-Ade Local Government Area of Osun State, with a last known address at G29, Banana Island, Ikoyi, Lagos. It urged Nigerians with relevant information on his whereabouts to contact any of its zonal offices nationwide, call its official hotline 08093322644, email info@efcc.gov.ng, or report to the nearest police station or security agency.
Background and Earlier Controversies
This is not Ogundele’s first brush with financial allegations. In October 2024, he came under police investigation over a $325,000 (approx. ₦520 million) real estate dispute tied to Sujimoto’s flagship Leonardo project in Banana Island, Lagos. A client who made an advance payment for a three-bedroom apartment reportedly neither received the property nor a refund.
The matter escalated when the Force Criminal Investigation Department (FCID) in Abuja invited him for questioning. Initially, Ogundele sought to block the inquiry by filing a fundamental rights suit. However, under mounting pressure, he later appeared before the FCID, was interrogated, and subsequently released on bail.
In response to the allegations, Ogundele publicly denied any fraudulent intent, attributing the project delays to inflation, forex volatility, and rising construction costs. He insisted he had presented the police with evidence of transparency, including title documents, Lagos State approvals, and contracts, stressing that Sujimoto remained committed to delivering luxury developments.
Wider Implications
Ogundele’s case adds to a growing list of high-profile probes by the EFCC as it intensifies enforcement against financial crimes in the real estate and construction sector—a sector often flagged for opaque transactions and under-regulated inflows of funds.
Industry observers note that the EFCC’s public declaration could escalate pressure on luxury developers to improve compliance standards and transparency in client-developer dealings, particularly in Nigeria’s elite enclaves such as Ikoyi and Banana Island.
The Commission has urged members of the public to provide actionable intelligence to aid Ogundele’s arrest and prosecution.
