Luxury real estate mogul Olasijibomi Ogundele faces financial crimes investigation as anti-graft agency launches nationwide manhunt.
Lagos, Nigeria – Friday brought unexpected news from Nigeria’s anti-corruption watchdog. The Economic and Financial Crimes Commission has declared Olasijibomi Ogundele – the flashy founder behind Sujimoto Construction, wanted over what appears to be serious allegations of fund diversion and money laundering.
EFCC Issues Formal Wanted Notice
Dele Oyewale, the Commission’s Head of Media and Publicity, signed off on a wanted notice that hit social media channels Friday afternoon. The 44-year-old Ogundele, who’s built quite a reputation developing some of Lagos’s priciest real estate, now finds himself at the center of a nationwide manhunt.
“The public is hereby notified that Olasijibomi Ogundele of Sujimoto Luxury Construction Limited is wanted by the Economic and Financial Crimes Commission in an alleged case of diversion of funds and money laundering,” the official notice read.
What’s interesting here is the specificity – the EFCC isn’t being vague. They’ve listed his last known address as G29, Banana Island, Ikoyi (pretty much prime real estate territory), and identified him as originally from Ori-Ade Local Government Area in Osun State.
Background on Sujimoto’s Luxury Empire
Over the past decade, Ogundele has managed to carve out quite a niche for himself. Sujimoto Construction became something of a household name among Lagos’s wealthy elite, focusing almost exclusively on ultra-luxury developments in Ikoyi and Banana Island. We’re talking billions of naira in project values here.
The company’s Lucrezia By Sujimoto project? That was marketed as one of Africa’s most expensive residential towers – ambitious, to say the least. Then came Giuliano by Sujimoto, another high-end development targeting wealthy Nigerians and diaspora investors with deep pockets.
Anyone who followed Nigerian real estate or social media likely knew Ogundele’s face. He wasn’t exactly shy about his lifestyle, luxury cars, private jets, exclusive properties. It all fed into the Sujimoto brand’s premium image, though now that same visibility may be working against him.
Growing EFCC Focus on Real Estate Sector
This wanted declaration seems to fit a broader pattern. The EFCC has been paying closer attention to Nigeria’s luxury real estate sector lately, and for good reason, investigators keep finding it’s a favored route for laundering corruption proceeds.
Here’s what we don’t know yet: the specific amount allegedly diverted in Ogundele’s case. The Commission is keeping those details close to their chest for now. But considering Sujimoto’s portfolio, we’re likely talking about substantial sums.
The anti-graft agency has been busy recently, targeting several real estate developers and property investors suspected of using luxury developments as money-washing schemes. It’s almost become a playbook, questionable funds go in, legitimate-looking property assets come out.
Public Appeals for Information
The EFCC wants help finding Ogundele, and they’re casting a wide net. Anyone with credible information about his whereabouts can contact Commission offices across the country, Ibadan, Uyo, Sokoto, Maiduguri, Benin, Makurdi, Kaduna, Ilorin, Enugu, Kano, Lagos, Gombe, Port Harcourt, or Abuja.
They’ve also provided a dedicated hotline (08093322644) and email (info@efcc.gov.ng). Even local police stations can take tips, which suggests they’re taking this seriously.
Impact on Luxury Property Market
This development could shake up Nigeria’s luxury real estate sector more than some might expect. Sujimoto wasn’t just another developer, the company had real influence among high-net-worth clients, the kind who drop serious money on premium Lagos properties.
Industry watchers are already wondering if this signals broader regulatory scrutiny ahead. Will other luxury developers find themselves under the microscope? It’s possible, especially given how often high-end real estate pops up in EFCC investigations.
The Commission has secured convictions before in similar cases, which suggests they don’t announce wanted notices lightly. Whether someone’s social or economic status protects them appears to matter less and less to this iteration of the EFCC.
What remains to be seen is how this plays out, and whether Ogundele will turn himself in or try to stay ahead of investigators. Either way, it’s likely to be a closely watched case in both legal and real estate circles.
Culled: PUNCH
