The photo that flashed across Nigerian timelines on Friday was one that used to sell a fantasy: glass façades, infinity pools, and the name Lucrezia in bold type, the visible proof of a real-estate brand that built its image on audacious luxury. By midday the same profiles were plastered beside an EFCC “wanted” notice. The Economic and Financial Crimes Commission says Olasijibomi (Sijibomi) Ogundele, known in real-estate circles and on social feeds as Sujimoto, is wanted in connection with allegations of diversion of funds and money-laundering.
Within hours a video of Ogundele surfaced: tearful, defiant and earnest. “I’m not a thief, I’m not a fugitive,” he says; he insists the row stems from a commercial contract with Enugu State that went sour and vows to go to the EFCC “to clear my name.”
The clip has been watched, reshared, mocked and mourned in equal measure, a vivid reminder that celebrity and vulnerability are now two sides of the same public coin.
How A brand That Sold Fantasy Became A Subject Of Inquiry
Sujimoto’s rise was rapid and highly visible. The developer is behind a string of headline projects — most famously the ultra-luxury Lucrezia tower on Banana Island and a cluster of high-end developments in Ikoyi — projects designed to be manifest proof that an “Agege boy” could reinvent the skyline of elite Lagos neighbourhoods.
The company’s own site and industry profiles show a catalogue of showpiece amenities and global supplier partnerships that positioned Sujimoto as a symbol of Nigeria’s new luxury.
That brand power has a double edge. High-value projects attract lenders, partners and wealthy buyers, and they also attract scrutiny when payments, contracts or timelines go wrong. The EFCC notice, which calls for public assistance in locating Ogundele, follows a line of previous allegations and scrutiny that include a 2024 probe over an alleged $325,000 fraud involving a non-existent property transaction.
The earlier matter ended with detention and release on bail; the current notice suggests the agency believes there are deeper questions to answer.
What The EFCC Says — And What’s At Stake
The public notices issued in Abuja name Ogundele and refer to alleged diversion of funds and money laundering. The language used by the anti-graft agency signals a financial investigation that could involve tracing payments, bank records, and contracts tied to government or private clients.
If the EFCC has evidence it believes supports criminal complaints, the consequences could range from arrest and prosecution to asset freezes — and even if the court eventually absolves him, the reputational damage is immediate.
For buyers who have paid deposits on luxury units, for banks that have underwritten projects, and for workers on Sujimoto sites, this kind of investigation raises urgent questions: will projects be completed? Will escrow or construction accounts be available? In real estate, confidence is currency — once it cracks, projects slow and vendors circle.
The Man Behind The Brand
Ogundele’s public story reads like a modern entrepreneurial parable: born in Agege, studied abroad, returned with a taste for luxury architecture and a determination to create buildings that read like trophies.
He cultivated an aggressive media image, tours of show apartments, international supplier partnerships, social media flurries, that turned projects into cultural events and himself into a well-known personality in business pages and lifestyle feeds. That same visibility makes every allegation louder.
There is another truth embedded in the spectacle: modern Nigerian entrepreneurship rewards audacity. But audacity without institutional safeguards (clear escrow arrangements, transparent procurement, and strong corporate governance) leaves a business exposed when contracts sour or partners complain.
The EFCC’s move underscores how business flamboyance can become legal vulnerability when money and government projects mix.
Sujimoto’s Defence: “A Contract That Went Sour”
In his video Ogundele does not deny that money and contracts are involved, he frames the dispute as a commercial disagreement with Enugu State’s government, not a criminal conspiracy.
He says court actions already exist between the parties and that rising costs and delays compounded the situation. “I will go to the EFCC to clear my name,” he promises, a line that will test whether the public’s appetite is for immediate condemnation or patient adjudication.
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That defence, contract dispute rather than theft, is a common pattern in corporate scandals: when payments stop or a project lags, commercial actors sue, counter-sue, and sometimes call in regulators.
What turns a commercial spat into a criminal case is the evidence of intent to misappropriate funds, hide transactions, or launder assets. The EFCC’s next public steps, arrest, invitation, or charges, will indicate how strong the agency thinks its evidence is.
What Could Happen Next
1. Voluntary turn-in and cooperation. Ogundele could present himself to EFCC, cooperate with investigators, and seek to rebut evidence, a path he signalled in his video. That may calm markets quickly if he produces contracts and bank records that explain funds flows.
2. Arrest and formal charges. If EFCC believes there’s prima facie evidence, formal charges could follow, setting off asset tracing, bail hearings, and long court proceedings. That would likely freeze some business activity and deepen reputational harm.
3. Civil settlement and parallel criminal probe. Parties sometimes settle commercially while a criminal probe continues, creating a hybrid outcome where projects resume but investigations proceed.
For buyers, lenders and workers, the immediate advice is prudence: demand clear escrow information, proof of progress on projects, and assurance from financiers or regulatory bodies that construction funds are ring-fenced.
