Sujimoto threatens N100bn lawsuit against Aderemi Lasaki over Lucrezia project

Sujimoto Holdings, led by Sijibomi Ogundele, is embroiled in a legal dispute with Aderemi Lasaki, a board member of First Bank Holdings Plc, concerning the Lucrezia project on Banana Island, Lagos. The disagreement stems from a “buyer beware” advisory issued by Lasaki’s legal representation, Sebili Oni & Co., stating he would not sign off on property deeds until all joint venture terms are met. Sujimoto alleges Lasaki is distorting facts and prioritizing opportunism, while Lasaki’s firm claims Sujimoto has not fully complied with the joint venture agreement.

Ogundele asserts that all title documents are held by an independent trustee, Stanbic IBTC Trustees Limited, ensuring transparency and preventing unauthorized control. He accuses Lasaki of attempting to obstruct lawful unit allocation and misrepresenting the project's status, which Ogundele claims is fully completed and contractually protected. Sujimoto is demanding a retraction of the “buyer beware” statement and a public apology within 14 days, or they will pursue the N100 billion lawsuit for damages including trade libel and unlawful interference.

Ogundele highlighted the challenges overcome in completing the Lucrezia project, including economic difficulties and pandemic disruptions, and emphasized his company’s commitment to delivering the properties to buyers. He also announced plans to begin construction on LeonardobySujimoto, a luxury residential tower, in 2026, reaffirming Sujimoto’s dedication to redefining luxury real estate in Africa.

(Source：Premium Times)