Sujimoto Construction Limited has denied claims that it owes an individual N24 million, describing the allegation as inaccurate and misleading.
In a statement issued by the company, Sujimoto said the claim was being used to create the impression that it was financially distressed and to push it into administration.
The company said it owes no such sum and that interim court orders were obtained based on incomplete representations.
It added that the orders were later activated in January 2026 after being secured in November 2025.
Sujimoto said it took steps to address the situation through legal processes without admitting any obligation.
According to the company, it deposited a bank draft for the disputed N24 million solely to prevent misuse of the procedure, while applications filed by its legal advisers led to the suspension of the administrator’s authority pending further court directions.
The company said information presented to the court suggested it was unable to meet its obligations, an assertion it said did not reflect its financial position.
It stated that it had placed records before the court showing payments of over N10 billion to creditors, including banks, investors and government agencies, within the last 12 months.
Sujimoto also disclosed that it recently repaid N1.28 billion to the Enugu State Government in relation to a disputed contract that is still under consideration.
The company said complaints had been initiated against individuals involved in what it described as a coordinated effort to apply pressure through legal and administrative processes.
According to Sujimoto, administration proceedings are meant for companies whose liabilities exceed their assets, adding that its assets are valued at over N90 billion, with obligations below 10 per cent of that figure.
It cited its 2024 – 2025 Triple BBB+ investment grade rating by DataPro as confirmation of its financial position.
The company alleged that some parties attempted to use interim administration orders to influence company operations, including banking mandates, and to advance disputed claims.
It said such actions were not supported by Nigerian law, which does not allow the appointment of administrators through ex parte proceedings without hearing from the affected company.
Sujimoto said it had also observed inaccurate media reports following the legal actions, adding that it would respond to any misinformation through lawful means.
The company said it continues to engage creditors directly and meet obligations based on agreed timelines.
Sujimoto added that it has operated for 12 years, paid over N7 billion in wages and currently employs more than 745 staff.
Sijibomi Ogundele is the Group Managing Director of Sujimoto Holdings.
