Court Orders Final Forfeiture Of Aisha Achimugu’s N9bn Assets, Luxury Cars To FG

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

The forfeited assets include jewellery valued at N4.65 billion, 11 exotic vehicles worth N4.29 billion, N30 million in cash and $50,000.

Justice Jude Onwugbuzie made the order on Thursday after granting an application filed by the Economic and Financial Crimes Commission (EFCC), which sought the permanent forfeiture of the assets.

The judge held that the assets, which had earlier been placed under an interim forfeiture order, should be permanently forfeited to the Federal Government after the EFCC satisfied the legal requirements for final forfeiture.

According to the court, the assets comprise jewellery valued at N4,645,170,294.90, 11 exotic vehicles worth N4,293,000,000, N30,000,000 in cash and $50,000.

The ruling comes months after the Federal High Court in Abuja ordered the EFCC to release Achimugu within 24 hours following her arrest over an ongoing investigation.

Justice Inyang Ekwo had, on April 30, 2026, directed the anti-graft agency to release her after complying with an earlier order requiring her to honour the EFCC’s invitation.

The court also directed all parties to return on May 2, 2026, to report compliance with the order.

Achimugu was arrested at the Nnamdi Azikiwe International Airport, Abuja, as part of the EFCC’s investigation into allegations of conspiracy, obtaining money by false pretence, money laundering, corruption and possession of properties reasonably suspected to have been unlawfully acquired.

The businesswoman came under public scrutiny 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.

The EFCC subsequently declared Achimugu wanted and later secured a court order for the permanent forfeiture of $13 million traced to her company, Oceangate Engineering Oil & Gas Ltd.

According to investigators, part of the forfeited funds was linked to contractors of the Lagos State Government.

Achimugu, however, denied that her wealth is connected to Governor Sanwo-Olu, insisting in an interview on Channels Television that she built her oil and gas business from 2001, long before her political associations.

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