The Myth, Truth and Lies Against Sijibomi Ogundele

Sijibomi Ogundele, Group Managing Director of Sujimoto Holdings, has broken his silence over his purported arrest and detention by operatives of the Force Criminal Investigations Department (FCID) in Abuja.

Before now, Ogundele, who had remained silent over the matter because of its sensitive nature, eventually made up his mind to come out with his own side of the story in order to correct the wrong impression the story may have had on the innocent public.

As gathered by Society Watch, Ogundele was dragged to the FCID by human rights lawyer, Pelumi Olajengbesi, who accused him of fraudulently taking a sum of $325,000 from Kabiru Ibrahim over one unit of a three-bedroom flat at the upscale Leonardo Estate.

However, the invitation by the police presented a window of opportunity to the man behind several audacious projects, which include the most sophisticated building in Banana Island, LucreziaBySujimoto, the grandiose Sujimoto Twin Tower, the tallest twin towers in Africa; the regal Queen Amina, to explain in detail his side of the story, after which he was allowed to go home.

Ogundele, whose many innovative projects have etched an indelible imprint on Nigeria’s luxury real estate, said he honoured the police invitation with a “trove of evidence: the title documents of the Leonardo project in Banana Island, approvals from Lagos State and all pertinent papers proving our utmost commitment to transparency with the audacious LeonardoBySujimoto project.”

It was clarified that there was nothing regarding the offences of obtaining money under pretence, fraudulent misrepresentation, and criminal breach of trust, and the only “offence” he committed was a delay, which was a result of external economic forces affecting our nation.

“And also rising material costs, a plummeting currency, a cascading effect of inflation, and a shifting economic landscape have all conspired to slow down our ambitious endeavour to design and build a landmark property that not only surpasses the iconic 1979 Necom Tower as the tallest and most luxurious project in Nigeria but also sets a benchmark standard for luxury living across Africa.

“The past few days have been uneasy for me and my business, stemming from a transaction we undertook a couple of years ago involving the sale of an off-plan apartment to one of our valued clients. Despite securing the land and obtaining all necessary approvals, we encountered significant obstacles that have delayed our project delivery.

“After numerous conversations and negotiations, the client in reference demanded a refund for his payment, which was originally made in naira. At the time of the transaction, the exchange rate was 420 to the dollar; today, it has skyrocketed to 1,750, creating a staggering deficit of 1,330.

“This poses a critical question: who will absorb this loss? Although the volatility of the exchange rate is neither the client’s fault nor ours, it is a reality that profoundly affects our operational expenses, and capital expenditures, which are largely dollar-denominated.

“Given these circumstances, it was very important for us to clarify our position with the authorities at the FCID regarding allegations of obtaining money under false pretence, fraudulent misrepresentation, and criminal breach of trust. This was a false allegation; we provided comprehensive documentation to demonstrate that these claims are unfounded, as the evidence provided to the FCID authorities gave true insights into the transaction conducted.”