Court grants final forfeiture of N8.94bn assets, 11 exotic cars linked to Achimugu

 A Federal Capital Territory (FCT) high court in Apo has
granted final forfeiture of properties linked to Aisha Achimugu, a
businesswoman and founder of Oceangate Engineering Oil & Gas Ltd.

 

Jude Onwugbuzie, presiding judge, granted final forfeiture
of the properties to the federal government on Thursday following an
application by the Economic and Financial Crimes Commission (EFCC).

The properties include jewellery worth N4,645,170,294.9
billion, eleven exotic cars worth N4.293 billion, $50,000 and N30 million in
cash.

BACKGROUND

In January 2024, Achimugu made the headlines when she set
the Caribbean Island of Grenada alight with a seven-day 50th birthday party
attended by some of the crème de la crème of the Nigerian entertainment
industry and prominent figures.

Over a year after, the EFCC declared Achimugu wanted over
money laundering allegations. On April 29, 2025, EFCC arrested the
businesswoman at Nnamdi Azikiwe International Airport, Abuja.

In March 2026, a federal high court in Abuja granted an
order of final forfeiture of the sum of $13 million allegedly linked to
Achimugu, and Oceangate Engineering Oil & Gas Ltd.

Emeka Nwite, presiding judge, had held that the EFCC was
able to prove that the funds were proceeds of fraud.

After the judgment, the firm said it has commenced the
process of filing an appeal against the final forfeiture order.

Amid the controversy of the funds allegedly linked to
Achimugu’s firm, there were reports alleging that the businesswoman was being
sponsored by some politicians.

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