ABUJA, Nigeria | July 16, 2026
A High Court of the Federal Capital Territory (FCT), sitting in Apo, Abuja, has ordered the final forfeiture of billions of naira worth of assets linked to businesswoman Aisha Achimugu to the Federal Government.
The ruling, delivered on Thursday by Justice Jude Onwugbuzie, followed an application by the Economic and Financial Crimes Commission (EFCC), which sought the permanent forfeiture of assets previously placed under an interim forfeiture order.
The court held that the EFCC had satisfied the legal requirements for the final forfeiture of the assets.
The forfeited properties include jewellery valued at ₦4,645,170,294.90, 11 exotic vehicles worth ₦4,293,000,000, $50,000 in cash, and an additional ₦30 million.
The assets had earlier been temporarily seized as part of the EFCC’s ongoing investigation into allegations of money laundering, conspiracy, obtaining money by false pretence, corruption, and possession of assets reasonably suspected to have been unlawfully acquired.
Achimugu was arrested earlier this year at the Nnamdi Azikiwe International Airport, Abuja, following an investigation by the anti-graft agency.
In April 2026, a Federal High Court in Abuja ordered the EFCC to release Achimugu within 24 hours after she honoured the court’s directive to appear before the commission in connection with the investigation.
The EFCC has also previously secured a separate final forfeiture order involving $13 million traced to Achimugu’s company, Oceangate Engineering Oil & Gas Limited, with investigators alleging that part of the funds was linked to Lagos State Government contractors.
Achimugu has consistently denied any wrongdoing. She has also dismissed public speculation linking her wealth to Lagos State Governor Babajide Sanwo-Olu, maintaining that she built her career in the oil and gas industry long before her political associations.
The latest ruling represents another significant development in the EFCC’s ongoing efforts to recover assets suspected to be proceeds of unlawful activities, while investigations related to the case continue.
