CEO Vows to Clear Name as EFCC Drags Construction Giant into Legal Crossfire

Olasijibomi "Sijibomi" Ogundele, the CEO of Sujimoto Construction Limited, has publicly denied allegations of money laundering and fund diversion levelled by the Economic and Financial Crimes Commission (EFCC) and declared his intent to report to the agency to clear his name. The declaration came following a video released by Ogundele on Friday, in which he described himself as neither a thief nor a fugitive. He emphasized his commitment to resolving the matter through legal channels and expressed concern over the impact of the case on his business and the broader construction industry. The controversy, he explained, originated from a contract with the Enugu State Government, which evolved into a court case after the governor allegedly altered the project scope. "They destroyed my company that I built," Ogundele said, citing inflation and project delays as exacerbating factors over the past five years [1].

The EFCC issued a formal wanted notice for Ogundele, accusing him of fraudulent activities linked to a property development in Lagos. According to the commission’s statement, the 44-year-old businessman resides at G29, Banana Island, Ikoyi, and is wanted for alleged money laundering and diversion of funds. The EFCC urged the public to provide information on his whereabouts and reiterated its commitment to combating financial crimes. The commission’s statement was signed by Dele Oyewale, the Head of Media and Publicity [2]. Notably, this is not the first time Ogundele has been involved with the EFCC. In October 2024, he was detained at the Force Criminal Investigations Department (FCID) in Abuja on allegations of fraud but was later released on bail [2].

The legal action against Ogundele is rooted in a separate civil dispute involving a property transaction. A human rights lawyer, Pelumi Olajengbesi, filed a petition alleging that Ogundele misrepresented a property offer to a client, Kabiru Ibrahim, in 2020. The client reportedly paid $325,000 as 50% of the agreed $650,000 for a three-bedroom flat in Leonardo Estate, only to discover that no project was under development. The lawyer accused Ogundele of fraudulent practices and obtaining money under false pretence [2]. The case has drawn attention to the growing trend of high-profile real estate developers being implicated in financial irregularities, particularly amid a backdrop of rising inflation and delayed projects in the sector.

The EFCC’s actions have sparked debates about the agency’s handling of corruption cases in Nigeria. While some investigations have led to convictions or settlements, others have seen cases delayed or dismissed, prompting concerns over the effectiveness and transparency of the commission’s enforcement mechanisms. In its recent statement, the EFCC reiterated its mandate to safeguard national resources and ensure accountability, framing its actions as part of broader efforts to deter economic crimes [2]. Ogundele, however, has expressed frustration with the legal process, claiming the government’s decision to declare him wanted has undermined his business interests and reputation.

Meanwhile, the controversy has highlighted the complex interplay between private sector operations and public governance in Nigeria. Real estate development, often reliant on public-private partnerships, remains a contentious space where allegations of mismanagement and financial misconduct frequently surface. As the case unfolds, it will serve as a test of the judicial and investigative processes in handling high-profile economic crimes. The outcome may also influence public perception of both the real estate sector and the anti-graft apparatus in Nigeria.

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[1] I'll report to EFCC, clear my name -Sujimoto CEO (https://punchng.com/ill-report-to-efcc-clear-my-name-sujimoto-ceo/)

[2] EFCC Declares Real Estate Developer Sujimoto CEO ... (https://saharareporters.com/2025/09/05/efcc-declares-real-estate-developer-sujimoto-ceo-olasijibomi-ogundele-wanted-alleged)