The arrest of Aisha Achimugu, CEO of Felak Concept Group, has exposed a suspected $250 million election slush fund linked to a sitting governor ahead of the 2027 polls.
Achimugu, who was picked up by EFCC operatives at Abuja airport on her return from London around 5:00 am, is at the center of what sources have described as a “complex laundering operation” involving 136 bank accounts, 20 shell companies, and a treasure trove of cash and luxury items discovered in her Abuja residence.
The discovery of N30 million in local currency, $50,000 in cash, and jewelry boxes containing gold, diamonds, and silver worth over N1 billion has reignited national concerns over how state funds are funneled through private individuals ahead of elections.
A senior EFCC official, who requested anonymity, said the commission is piecing together how the funds moved and who else might be involved.
“This is not just about one woman. It’s about how the political elite are using private actors as vaults for campaign slush funds,” the source said.
A Federal High Court in Abuja had earlier ordered Achimugu to appear before both the EFCC and the court on April 30, as investigations deepen into her role in what may become one of the biggest pre-election money laundering cases in recent memory.
Experts say the development could prompt wider scrutiny of campaign financing practices, as the 2027 elections draw closer.
