An Abuja High Court has ordered the permanent forfeiture of assets worth more than N8.9 billion linked to businesswoman Aisha Achimugu, handing over the properties to the Federal Government.
The ruling, delivered on Thursday by Justice Jude Onwugbuzie of the High Court in Apo, followed an application by the Economic and Financial Crimes Commission (EFCC) seeking a final forfeiture order over the assets.
Among the properties forfeited are jewellery valued at N4.645 billion, 11 luxury vehicles estimated at N4.293 billion, $50,000 in cash and N30 million in cash.
The court held that the assets should be permanently relinquished to the Federal Government, concluding the forfeiture proceedings initiated by the anti-graft agency.
The assets had earlier been placed under interim forfeiture as part of ongoing legal proceedings involving Achimugu before the EFCC sought their final confiscation.
With Thursday’s judgment, ownership of the jewellery, luxury automobiles and cash officially passes to the Federal Government.
The ruling marks the latest development in the EFCC’s asset recovery efforts, with the commission maintaining that proceeds and properties found to be unlawfully acquired should be forfeited in accordance with the law.
Further details of the court’s reasoning are expected in the certified copy of the judgment
