EFCC Declares Sujimoto Boss, Olasijibomi Suji Ogundele, Wanted Over Alleged Diversion Of Funds, Money Laundering

By Emiola Osifeso

The Economic and Financial Crimes Commission (EFCC) has declared Olasijibomi Suji Ogundele, the flamboyant Chief Executive Officer of Sujimoto Luxury Construction Limited, wanted over alleged diversion of funds and money laundering. In a wanted notice issued on Thursday and signed by Dele Oyewale, the agency’s Head of Media and Publicity, the commission urged Nigerians with useful information on his whereabouts to immediately contact any of its zonal offices nationwide or the nearest police station and security agency.

Ogundele, 44, is an indigene of Ori-Ade Local Government Area of Osun State and was last traced to his Banana Island residence at G29, Ikoyi, Lagos. The EFCC said the real estate mogul, whose company has long projected itself as a leader in luxury housing development in Nigeria, is being investigated for serious financial crimes involving the diversion of funds and money laundering running into millions of dollars. The latest declaration deepens his legal troubles which had already been mounting in recent months.

In October 2024, Ogundele was detained and interrogated by the Force Criminal Investigation Department (FCID) in Abuja following a petition alleging that he defrauded a client, Kabiru Garba Ibrahim, of $325,000. The sum, said to be half payment for a three-bedroom flat under the “LeonardoBySujimoto Homes” project in Lagos, was allegedly collected but the promised property was never delivered and no refund was made. Police documents seen at the time revealed that Ogundele initially refused to honour invitations by detectives, instead filing a fundamental rights suit to stall the investigation. He eventually appeared before the FCID where he was granted bail after tendering what he called credible evidence, including title documents and government approvals.

Despite his defence, the complainant insisted he was duped. In the wake of that controversy, Ogundele publicly dismissed the fraud allegations, blaming construction delays on the country’s harsh economic climate, skyrocketing inflation, the collapse of the naira and escalating costs of building materials. He maintained that the Leonardo project and other Sujimoto developments were still on course, although multiple reports suggest several investors are yet to receive the properties or refunds they were promised.

Thursday’s EFCC declaration now marks an escalation from a private fraud petition to a full-blown national manhunt. The anti-graft commission published Ogundele’s photograph and full details, calling on the public to help track him down. Hotlines, email addresses and all zonal offices across Ibadan, Uyo, Sokoto, Maiduguri, Benin, Makurdi, Kaduna, Ilorin, Enugu, Kano, Lagos, Gombe, Port Harcourt and Abuja were listed for potential informants to reach the agency.

Ogundele’s rise to prominence had once been celebrated as a Nigerian success story. Born in Agege in April 1981, he studied law at Anglia Ruskin University in Cambridge, United Kingdom, and launched his career in France before returning to Nigeria in 2013 to establish Sujimoto Construction. Within a decade, the company positioned itself as a disruptor in the luxury housing sector, announcing billion-naira projects with glossy brochures and lofty promises. He was featured in glossy magazines, listed among top real estate innovators in Nigeria, and honoured with an honorary doctorate degree in entrepreneurship. His most ambitious project, the LeonardoBySujimoto, was touted as a $225 million development expected to dwarf NECOM House and offer residents amenities ranging from private swimming pools and IMAX cinemas to electric vehicle charging stations.

Those high-flying ambitions are now in sharp contrast with his present reality. With EFCC’s notice circulating across mainstream and social media, questions are once again being asked about transparency and oversight in Nigeria’s booming real estate sector. Industry stakeholders worry that cases like Sujimoto’s could undermine investor confidence at a time when the sector is already struggling with foreign exchange volatility and limited access to credit. For many Nigerians who had bought into Ogundele’s dream of luxury housing, the manhunt serves as a grim reminder of how easily investments can be derailed by alleged fraud and poor regulatory enforcement.

The EFCC has not disclosed the exact amount linked to the latest allegations but its choice to publicly declare Ogundele wanted suggests that the commission considers the case weighty and urgent. For now, the once-celebrated property mogul has gone underground, leaving his critics and supporters alike to await the next chapter in a saga that has turned one of Nigeria’s most flamboyant real estate entrepreneurs into a fugitive in the eyes of the law.