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, Ms. Aisha Achimugu, to the Federal Government.
The assets forfeited include jewellery valued at N4,645,170,294.90, 11 exotic vehicles worth N4,293,000,000, $50,000 in cash, and an additional N30,000,000 cash.
Justice Jude Onwugbuzie made the final forfeiture order on Thursday, July 16, 2026, following an application filed by the Economic and Financial Crimes Commission (EFCC) seeking the permanent confiscation of the assets.
The court held that the assets, which had earlier been placed under an interim forfeiture order, should now be permanently forfeited to the Federal Government after the anti-graft agency satisfied the legal requirements for final forfeiture.
The forfeited assets comprise jewellery worth N4,645,170,294.90 (Four Billion, Six Hundred and Forty-Five Million, One Hundred and Seventy Thousand, Two Hundred and Ninety-Four Naira, Nine Kobo), 11 exotic cars valued at N4,293,000,000 (Four Billion, Two Hundred and Ninety-Three Million Naira), $50,000 (Fifty Thousand United States Dollars), and N30,000,000 (Thirty Million Naira) in cash.
On April 30, 2026, SaharaReporters reported that the Federal High Court sitting in Abuja had ordered EFCC to release Achimugu within 24 hours.
Justice Inyang Ekwo, who issued the order, also directed all parties to appear before the court on May 2 to report on the outcome of the directive.
The judge had earlier instructed Achimugu to present herself to the EFCC over an ongoing investigation involving allegations of money laundering and other related offences.
Following her compliance, Justice Ekwo ordered the anti-graft agency to return to court with her on Wednesday, April 30, for a formal report.
Achimugu was arrested at the Nnamdi Azikiwe International Airport in Abuja.
The EFCC is investigating her for alleged conspiracy, obtaining money by false pretence, money laundering, corruption, and possession of properties reasonably suspected to have been unlawfully obtained.
Public speculation about Lagos State Governor, Babajide Sanwo-Olu, and Achimugu sparked in January 2024 when he attended her lavish, week-long 50th birthday celebration in the Caribbean.
The EFCC later declared Achimugu wanted and secured a final court order for the permanent forfeiture of $13 million traced to her firm, Oceangate Engineering Oil & Gas Ltd.
Investigators linked part of the forfeited funds to Lagos State Government contractors.
Achimugu publicly denied her wealth is linked to Governor Sanwo-Olu. In an interview on Channels Television, she stated that her business career in the oil and gas sector began in 2001, predating her political associations.
