Sujimoto Denies $556,000 Fraud Allegations, Threatens Legal Action

Real estate firm Sujimoto Construction Limited has said it will take legal action against individuals and organisations behind recent defamatory reports alleging a $556,000 fraud, describing the claims as “malicious, false, and misleading.”

In a press statement made available to LEADERSHIP, Group Managing Director of Sujimoto Holdings, Dr. Sijibomi Ogundele said; “There is no fraud. What exists is a delay — nothing more. Yet from this delay, some have chosen to fabricate lies and mislead the public. Those responsible for spreading these falsehoods will be held accountable.”

He clarified that The LeonardoBySujimoto, its ambitious high-rise project, has not been abandoned but only delayed by regulatory processes and macroeconomic challenges. Approvals were secured in 2024, and work continues toward full delivery in December 2025.

Sujimoto emphasized that all clients requesting refunds have been attended to through a structured and verifiable process. Projects such as The Giuliano and LucreziaBySujimoto have delivered outstanding returns for investors — with values appreciating from ₦285 million to over ₦2.5 billion within six years.

“Despite rising costs of cement, steel, and shipping, we have refused to compromise on quality,” Dr. Ogundele said, noting that “our integrity remains unshaken.”

The company also condemned the misuse of public institutions to settle private contractual disputes, describing it as “a dangerous precedent that undermines business confidence in Nigeria.”

For over a decade, Sujimoto has paid more than ₦7 billion in wages, empowered thousands of artisans, and created iconic developments across Nigeria’s skyline. The firm reaffirmed its commitment to transparency and excellence in all its projects.