Court Orders Final Forfeiture Of N8.9bn Assets Linked To Achimugu

The Federal Capital Territory (FCT) High Court sitting in Apo, Abuja, has ordered the final forfeiture of assets worth over N8.9bn linked to businesswoman, Aisha Achimugu, to the Federal Government.

Justice Jude Onwugbuzie granted the order on Thursday following an application by the Economic and Financial Crimes Commission (EFCC), which sought the permanent forfeiture of the assets after an earlier interim forfeiture order.

The assets forfeited include jewellery valued at N4.645bn, 11 exotic vehicles worth N4.293bn, $50,000 cash and an additional N30m in cash.

The court held that the EFCC had met the legal requirements for the final forfeiture of the assets, paving the way for their permanent confiscation by the Federal Government.

The ruling marks the latest development in the anti-graft agency’s ongoing investigation into Achimugu over allegations bordering on conspiracy, obtaining money by false pretence, money laundering, corruption and possession of properties reasonably suspected to have been unlawfully obtained.

Achimugu was arrested at the Nnamdi Azikiwe International Airport, Abuja, as part of the investigation.

Earlier, on April 30, 2026, the Federal High Court in Abuja ordered the EFCC to release Achimugu within 24 hours after she honoured the court’s directive to report to the anti-graft agency.

Justice Inyang Ekwo had directed Achimugu to present herself to the EFCC for questioning over the ongoing investigation and subsequently ordered the Commission to produce her before the court with a compliance report.

The businesswoman had earlier been declared wanted by the EFCC during the course of its investigation.

In a separate development, the Commission also secured a final forfeiture order for $13m traced to Oceangate Engineering Oil & Gas Ltd, a company linked to Achimugu. Investigators alleged that part of the forfeited funds was connected to contractors of the Lagos State Government.

Public attention had focused on Achimugu in January 2024 after Lagos State Governor Babajide Sanwo-Olu attended her week-long 50th birthday celebration in the Caribbean, sparking speculation about their relationship.

Achimugu has, however, denied that her wealth is linked to the governor. In an interview on Channels Television, she maintained that she built her fortune through her oil and gas business, which she said she established in 2001, long before her political associations.