Sujimoto Construction Limited has denied liability over a disputed ₦24 million claim, stating that the matter is currently before a court for determination and remains subject to ongoing legal proceedings.

The real estate firm clarified that the authority of an administrator appointed through an ex-parte court order has been suspended, pending the outcome of motions filed before the court. According to the company, the suspension takes effect until the court delivers a final ruling on the matter.

In a statement issued on Monday, Sujimoto said it had followed due legal process by depositing a bank draft for the disputed sum under protest, stressing that the move does not constitute an admission of liability.

The company disclosed that it has formally challenged the ex-parte order granted on November 14, 2025, noting that the representations made to the court at the time did not accurately reflect its current financial and operational status.

Sujimoto explained that evidence presented before the court shows the company remains financially stable and actively engaged in business operations. It stated that over the past 12 months, it has made payments running into billions of naira to creditors, including banks, private investors, and government agencies.

According to the firm, these payments include a voluntary repayment of ₦1.28 billion to the Enugu State Government on a contract that is still under dispute, underscoring what it described as its commitment to lawful and structured debt resolution.

The company further revealed that it holds assets valued at more than ₦90 billion, while its liabilities represent less than 10 per cent of its total asset base. Sujimoto added that its financial standing is reinforced by a Triple BBB+ Investment Grade rating for 2024–2025 issued by DataPro.

Reaffirming its commitment to corporate governance and transparency, Sujimoto said it remains open to constructive engagement with creditors and has consistently met its obligations through recognised legal channels.

The firm also highlighted its workforce strength, noting that it currently employs over 745 professionals and has paid more than ₦7 billion in wages over the past 12 years.

Commenting on the development, the Group Managing Director of Sujimoto Holdings, Dr Sijibomi Ogundele, said the company would continue to operate strictly within the confines of the law while prioritising project delivery and staff welfare.

“Sujimoto remains committed to integrity, accountability, and excellence. We will continue to operate transparently and ensure that all obligations are addressed in line with the law,” Ogundele said.

The company reiterated that it will pursue its legal position through the courts while maintaining operations and delivering real estate projects across Nigeria.

The post Court Case Ongoing as Sujimoto Disputes ₦24m Liability appeared first on Housing TV Africa.

The Federal High Court in Lagos has appointed Mr. Omobolaji Bello as the Administrator of Sujimoto Holdings Limited, placing the company under formal administration. Mr. Bello assumes the role of Chief Restructuring Officer (CRO), with full oversight of the company’s business operations, assets, and affairs.

This decision follows an earlier order issued on November 14, 2025, under the Companies and Allied Matters Act 2020 (CAMA 2020).

As Administrator, Mr. Bello is tasked with stabilising the company’s operations, preserving enterprise value, and implementing a structured turnaround programme aimed at performance improvement. Sujimoto Holdings has reassured clients, suppliers, and other stakeholders that it remains operational and continues to engage in ordinary business activities under the supervision of the CRO and appointed professional advisers.

The administration marks a critical step in Sujimoto Holdings’ restructuring process. Creditors, suppliers, and any individuals or entities with claims against the company have been formally notified to submit verified claims, along with supporting documentation and contact details, to the Office of the Chief Restructuring Officer within seven days. The company has warned that claims submitted after this timeframe may be deemed forfeited and excluded from consideration in the ongoing restructuring.

In a statement, Sujimoto Holdings emphasized the continuity of its operations during the restructuring: “The company continues to engage clients, customers, suppliers, and partners in the ordinary course of business, under the supervision of the CRO and appointed professional advisers.” This move seeks to reassure stakeholders of the company’s commitment to transparency and operational stability.

Industry analysts note that the appointment of a CRO is a common strategy for real estate and construction firms experiencing operational challenges, allowing them to maintain business continuity while addressing financial, management, or structural inefficiencies. The structured turnaround programme under Mr. Bello is expected to review Sujimoto Holdings’ internal operations, optimize processes, and develop a sustainable plan for long-term growth and financial health.

Sujimoto Holdings Limited is a major player in Nigeria’s real estate sector, known for luxury developments and high-end residential projects. The court’s intervention reflects the need to protect stakeholder interests while providing the company with a clear path to recovery. By appointing an experienced CRO, the court aims to balance creditor claims, maintain service delivery, and position Sujimoto Holdings for a future post-restructuring revival.

The restructuring process also serves as a reminder of the importance of robust corporate governance in Nigeria’s real estate sector. Proper oversight, timely reporting, and transparent communication with stakeholders are critical in managing risks associated with operational disruptions. For Sujimoto Holdings, the current administration represents both a challenge and an opportunity to restore confidence among investors, clients, and partners while ensuring long-term sustainability.

The company’s stakeholders are watching closely as the administration progresses, with hopes that the measures under Mr. Bello’s leadership will stabilize operations, safeguard assets, and deliver a successful turnaround.

The post Omobolaji Bello Takes Charge as Sujimoto Holdings Goes Under Court Oversight appeared first on Housing TV Africa.