After overcoming severe debt pressures, harsh economic conditions, and the immense challenges of delivering a project of this scale, Sujimoto has finally brought the Lucrezia project to life—establishing it as one of Nigeria’s finest residential developments. Yet, at completion, instead of acknowledging integrity and disciplined execution, our Joint Venture Partner chose opportunism over transparency, attempting to distort and misrepresent facts and mislead the public in respect of a fully completed and contractually protected project.
Sujimoto is compelled to take decisive legal action. We have through our Solicitors demanded that Mr. Aderemi Lasaki retracts the recent misleading publication and issue a public apology in the same manner and across similar media outlets within 14 DAYS. Failure to comply will result in Sujimoto initiating legal proceedings seeking ₦100 billion in damages for _trade libel, unlawful interference, deliberate misrepresentation, obstruction of lawful unit allocation,_ and attempts to assert unauthorized control in violation of the Joint Venture Agreement.
We state categorically that the claims issued by Sebili Oni & Co., purporting to represent Mr. Aderemi Lasaki — a board member of First Bank Holdings Plc — alleging the referenced party will not append his signature to any Deed of Assignment are entirely false and without legal merit. Neither Sujimoto nor Mr. Lasaki are in possession of the title documents.
As a legal professional who understands the implications of custody and risk, I ensured that all title documents were placed under the custody of an independent third party—Stanbic IBTC Trustees Limited—to eliminate any possibility of misrepresentation or unauthorized control.
Upon completion, the Joint Venture Partner is OBLIGATED to release units allocated to Sujimoto and those to be received by Mr. Lasaki as stipulated in the Agreement. All units in Lucrezia—securely held in trust—remain fully protected and cannot be obstructed or withheld by any party. Any suggestion to the contrary is a deliberate distortion of facts and an attempt to undermine a fully protected contractual process.
Every buyer who has purchased a unit will receive their home—without disruption, interference, or delay. We urge all stakeholders to ignore the noise; buying a home is not like buying a wristwatch or a bicycle. Real estate is governed by verified documentation, legal titles, and indisputable facts.
The recent publication by the legal firm representing the Joint Venture (JV) Partner is entirely misleading and directly contradicts the structure governing the project. The Agreement expressly grants Sujimoto exclusive possession of the Lucrezia Project and the unequivocal right to construct till completion, and the full right to sell or transfer its allocated units to third parties—whether prior to, during, or upon completion—and no individual has discretionary authority to obstruct this process.
The project’s cost was initially valued at approximately ₦10 billion, yet Sujimoto ultimately spent an amount estimated at four to five times that figure, as we continue to review final costs due to recession, soaring construction costs, pandemic disruptions, political turbulence, regulatory uncertainty, and severe market volatility. Despite these pressures, we surpassed all projections—deploying personal capital, assuming extraordinary debt, and overcoming challenges that would have halted even the most experienced developers.
Through it all, we upheld both the letter and the spirit of the agreement. Our team of over 474 professionals—architects, engineers, artisans, and site workers—reported to site every day for five years. Their sacrifice, resilience, and discipline remain the backbone of Lucrezia’s success.
*Let this serve as final, unequivocal notice: Lucrezia will be fully completed and delivered to its rightful owners. It stands as living proof that unwavering dedication, discipline, and honesty will always prevail over opportunism, greed, and deception. Sujimoto remains firmly committed to upholding the rule of law and will not hesitate to enforce its rights fully and decisively. Looking ahead, LeonardobySujimoto—the tallest and most anticipated luxury residential tower in Sub-Saharan Africa is set to break ground in Q2 2026, underscoring our unwavering commitment to redefining luxury real estate across the continent.
_Dr. Sijibomi Ogundele is the Group Managing Director of Sujimoto Holdings, the Czar of Luxury RealEstate Development, and the mastermind developer behind the renowned Giuliano. Our other audacious projects, such as the most sophisticated building in Banana Island, LucreziaBySujimoto, the grandiose 44 storey Sujimoto Twin Tower, the tallest twin towers in Africa; the regal Queen Amina by Sujimoto, a monument to royal affluence; the magnificent high-rise 37 storey LeonardoBySujimoto; MotopaybySujimoto, an all-in-one FinTech solution for fast, secure, and affordable transactions across Africa; the Sujimoto Farm; an advanced farm estate system that incorporates housing, farm hospitals, hotels, and markets within an ecosystem, creating opportunities for agro-tourism and affordable housing., among other projects that have etched an indelible imprint on Nigeria’s skylines, a testament to Sujimoto’s unrivalled mastery of modern-day engineering._
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