Court Affirms Final Forfeiture Of $13m Traced To Aisha Achimugu’s Firm

March 25, 2026 | News

Court Orders Final Forfeiture of $13m Linked to Achimugu

Justice Emeka Nwite of the Federal High Court in Abuja has ordered the final forfeiture of $13 million linked to Aisha Achimugu and her firm, Oceangate Engineering Oil & Gas Ltd, to the Federal Government.

In his ruling, the judge held that the Economic and Financial Crimes Commission (EFCC) successfully established that the funds were proceeds of unlawful activities. He noted that the company failed to provide credible evidence explaining how the money was legitimately obtained.

The court dismissed claims that the funds were gifts, pointing out that no donor was presented to testify and that Achimugu herself did not appear before the court to justify the source of the money. Justice Nwite ruled that the burden of proof was not met by the defendants to counter the EFCC’s allegations.

According to the EFCC, the funds were linked to transactions involving the acquisition of oil blocks, where Oceangate allegedly used intermediaries and unregulated channels to move large sums of money. Investigators also claimed the company had no verifiable business activities capable of generating such funds.

The court had earlier granted an interim forfeiture order in August 2025 and directed that it be published for any interested parties to contest. However, the judge noted that no sufficient challenge was made within the stipulated period.

The EFCC maintained that the money was part of a broader scheme involving suspicious financial flows tied to public funds and oil sector transactions. It also described Oceangate as a shell entity used to facilitate questionable dealings.

With this ruling, the $13 million is now permanently forfeited to the Federal Government, reinforcing ongoing efforts by authorities to recover assets suspected to be linked to financial crimes.