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.
Credit — Cable
