An FCT High Court in Apo has ordered the final forfeiture of properties worth nearly N8.94 billion to the federal government. The assets are linked to businesswoman Aisha Achimugu, founder of Oceangate Engineering Oil and Gas Ltd.
Justice Jude Onwugbuzie granted the order on Thursday after an application by the Economic and Financial Crimes Commission.
The forfeited items include:
- Jewelry: valued at N4,645,170,294.90
- 11 exotic cars: valued at N4.293 billion
- Cash: $50,000 and N30 million
The case traces back to January 2024, when Achimugu drew public attention for a lavish seven-day 50th birthday celebration in Grenada that hosted several top figures from Nigeria’s entertainment and business circles.
More than a year later, the EFCC declared her wanted over alleged money laundering. She was arrested on April 29, 2025 at Nnamdi Azikiwe International Airport in Abuja.
This is not the first forfeiture linked to her. In March 2026, a Federal High Court in Abuja led by Justice Emeka Nwite ordered the final forfeiture of $13 million allegedly tied to Achimugu and Oceangate. The judge ruled that the EFCC had proven the funds were proceeds of fraud.
Following that ruling, Oceangate said it had begun the process of appealing the order.
Amid the ongoing legal battles, reports have also circulated claiming Achimugu received backing from some politicians, though no charges have been made public on that allegation.
