The Economic and Financial Crimes Commission (EFCC) has issued a wanted notice for Olasijibomi Suji Ogundele, the 44-year-old CEO of Sujimoto Luxury Construction Limited, over allegations of money laundering and diversion of funds.
The announcement, made on Friday, September 5, 2025, via the EFCC’s official X handle and signed by Head of Media and Publicity Dele Oyewale, stated: “The public is hereby notified that Olasijibomi Ogundele of Sujimoto Luxury Construction Limited, whose photograph appears above, is wanted by the Economic and Financial Crimes Commission in an alleged case of diversion of funds and money laundering. Ogundele is a 44-year-old indigene of Ori-Ade Local Government Area of Osun State. His last known address is: G29, Banana Island, Ikoyi, Lagos State. Anybody with useful information as to his whereabouts should please contact the Commission in its Ibadan, Uyo, Sokoto, Maiduguri, Benin, Makurdi, Kaduna, Ilorin, Enugu, Kano, Lagos, Gombe, Port Harcourt or Abuja offices, or through 08093322644; its e-mail address: [email protected], or the nearest Police Station and other security agencies.”
Ogundele, a prominent figure in Nigeria’s luxury real estate sector, leads Sujimoto, known for high-profile, multi-billion-naira developments in Lagos, particularly in Banana Island and Ikoyi.
The EFCC did not disclose the specific amount allegedly diverted, but the notice signals a significant investigation into financial misconduct.
What You Should Know
Ogundele’s wanted status, announced on September 5, 2025, marks a dramatic escalation in scrutiny of his business dealings, following a prior October 2024 investigation by the Force Criminal Investigation Department (FCID) over an alleged $325,000 real estate fraud tied to Sujimoto’s Leonardo project in Banana Island.
Ogundele, released on bail after that probe, denied fraud, citing economic challenges like inflation and foreign exchange volatility. The EFCC’s action reflects its broader crackdown on financial crimes in Nigeria’s real estate sector, a known conduit for illicit funds, with 140 related investigations ongoing as of August 2025.
Social media reactions on X show mixed sentiments, with some defending Ogundele’s contributions to Nigeria’s skyline and others decrying alleged elite corruption, though these remain unverified.
The lack of specifics on the alleged sums and Ogundele’s reported absence from his Banana Island residence suggest he may have fled, intensifying the EFCC’s call for public assistance. This case could impact investor confidence in Nigeria’s luxury property market, valued at $2.5 billion in 2024, as authorities deepen their probe.
