By John Umeh

 

 

 

EFCC Declares Sujimoto CEO Wanted: Inside the Money Laundering Allegations Rocking Nigeria’s Luxury Real Estate Sector

 

 

 

 

The Wanted Notice

Nigeria’s foremost anti-graft agency, the Economic and Financial Crimes Commission (EFCC), has declared Olasijibomi Ogundele, the flamboyant Chief Executive Officer of Sujimoto Luxury Construction Limited, wanted over allegations of fund diversion and money laundering.

In a public statement signed by the Commission’s spokesperson, Dele Oyewale, and posted on its official X handle, the EFCC described Ogundele as a person of interest in an ongoing investigation.

“The public is hereby notified that Olasijibomi Ogundele of Sujimoto Luxury Construction Limited is wanted by the Commission in connection with a case of diversion of funds and money laundering,” the notice read.

According to the EFCC, Ogundele is a 44-year-old indigene of Ori-Ade Local Government Area in Osun State. His last known address was listed as G29, Banana Island, Ikoyi, Lagos — one of Nigeria’s most exclusive residential neighborhoods. The agency appealed to members of the public with credible information about his whereabouts to contact its offices across the country, call its hotline, or report to the nearest police station and security agency.

The declaration has sparked widespread attention, not only because of Ogundele’s prominence in Nigeria’s business circles, but also because of Sujimoto’s reputation as one of the country’s top developers of ultra-luxury apartments.

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Sujimoto, Real Estate, and Allegations

Founded by Ogundele, Sujimoto Luxury Construction has made its mark with breathtaking architectural designs and upscale projects valued in billions of naira. The company has become synonymous with wealth and exclusivity, developing properties in Lagos’ highbrow areas, including Ikoyi and Banana Island.

For years, Ogundele cultivated a reputation as a daring entrepreneur, frequently portraying himself as a man who turned humble beginnings into towering success. His personal story of ambition and relentless drive inspired many young Nigerians who looked up to him as a symbol of possibility in the business world.

But with the EFCC’s declaration, Sujimoto’s image now faces uncertainty. While the Commission has not disclosed the exact sums allegedly diverted, the charges of money laundering and diversion of funds are grave. For an industry already under scrutiny, this case has cast a spotlight on how real estate is increasingly used as a channel for laundering illicit wealth.

International and local anti-corruption experts have long warned that luxury real estate offers an attractive cover for those seeking to legitimize illegal funds. Expensive properties can be bought with questionable money, held as assets, and later sold to “clean” the proceeds. Nigeria’s booming luxury property market — where multimillion-dollar apartments rise in the midst of widespread poverty — has been identified as particularly vulnerable to such practices.

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EFCC’s Wider Crackdown and What Lies Ahead

The EFCC has, in recent years, intensified its focus on high-profile individuals in politics, business, and the private sector. From former state governors to oil executives, and now prominent entrepreneurs, the agency has repeatedly pledged to ensure that no one is above the law.

By placing Ogundele on its wanted list, the EFCC is sending a clear message to the private sector: the days of impunity may be narrowing. The Commission’s move could also shake confidence in Nigeria’s luxury real estate market, where Sujimoto has been a household name.

The big questions remain:

• Will Ogundele surface to defend himself, or will he remain elusive?

• How will this case affect Sujimoto’s ongoing projects and client trust?

• And perhaps most importantly, will the EFCC’s investigation result in a successful prosecution, or will it fade like many high-profile cases before it?

For now, what is clear is that the case has opened yet another chapter in Nigeria’s battle against financial crimes. It pits the image of a celebrated luxury developer against the resolve of an anti-graft agency determined to prove its relevance.

As the story unfolds, Nigerians and industry stakeholders alike will be watching closely, not just for the fate of one man, but for what this case signals about accountability, transparency, and the integrity of the country’s booming luxury property sector.