EFCC Declares Olasijibomi Ogundele Wanted in Real Estate Fraud Crackdown
Nigeria’s Economic and Financial Crimes Commission (EFCC) has declared Olasijibomi Ogundele, founder of Sujimoto Luxury Construction, wanted for alleged money laundering and fund diversion.
The announcement on September 5, 2025, escalates a crackdown on real estate fraud in Lagos, where Ogundele is accused of diverting client funds for personal use, following his 2024 arrest in a $325,000 scam.
Public reactions on social media highlight skepticism about enforcement and systemic corruption in Nigeria’s elite, potentially reshaping trust in the property market.
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“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: info@efcc.gov.ng, or the nearest Police Station and other security agencies,” the notice read.
Ogundele, founder and Chief Executive Officer of Sujimoto Luxury Construction Limited, is known for developing some of Lagos’ most exclusive high-end properties, especially in Ikoyi and Banana Island, with projects worth billions of naira.
Although the EFCC has not revealed the specific amount allegedly laundered or diverted, the declaration underscores the Commission’s intensified crackdown on high-profile private sector figures suspected of using real estate and luxury investments to launder illicit funds.
The anti-graft agency has consistently reiterated its commitment to tackling money laundering across all sectors, including politics, the civil service, and Nigeria’s booming luxury property market, which has been identified as a major conduit for concealing proceeds of corruption.
