The Federal Capital Territory (FCT) High Court in Apo has ordered the final forfeiture of assets worth over N8.9 billion linked to prominent businesswoman Aisha Achimugu.
Justice Jude Onwugbuzie granted the order today following an application by the EFCC, dismissing objections from Achimugu’s legal team. The forfeited items include jewellery valued at N4.645 billion, 11 exotic vehicles worth N4.293 billion, $50,000 in cash, and N30 million in local currency.
Achimugu, founder of Oceangate Engineering Oil & Gas Ltd, has been embroiled in a high-profile battle with anti-graft authorities. Prosecutors allege the assets represent proceeds of unlawful activities, including the acquisition of oil blocks using funds suspected to have been diverted from public projects.
Authorities claim transfers from state government contractors ended up with her firm despite no evident contractual relationship.This latest forfeiture builds on an earlier March order by the Federal High Court, which permanently seized $13 million connected to Achimugu and her company. Her representatives had argued the funds stemmed from legitimate business earnings and gifts, but the courts have repeatedly sided with the EFCC’s position that the origins remain unjustified.
The development sends a strong signal amid Nigeria’s ongoing efforts to recover assets linked to economic crimes in the oil and gas sector. EFCC officials hailed the ruling as a victory for transparency and accountability, while the case continues to draw attention to the intersection of private enterprise and public fund oversight in Africa’s largest economy.
No immediate comment was available from Achimugu’s representatives as of press time.
