A Federal High Court in Abuja has ordered the final forfeiture of $13 million linked to a company associated with Aisha Achimugu, in a decisive ruling that underscores Nigeria’s intensifying crackdown on illicit financial flows.
Delivering judgment, Justice Emeka Nwite held that neither Achimugu nor her firm, Oceangate Engineering Oil & Gas Ltd, could convincingly demonstrate that the funds were lawfully acquired.
The forfeiture followed an application by the Economic and Financial Crimes Commission (EFCC), which argued that the money was reasonably suspected to be proceeds of unlawful activity.
In his ruling, Justice Nwite dismissed the defence put forward by the company’s counsel, who claimed the funds originated from gifts and proceeds of oil and gas contracts. The court found that those claims were not supported by credible or verifiable evidence.
The judge also rejected a procedural challenge questioning the court’s jurisdiction to grant an earlier interim forfeiture order issued in August 2025 while sitting as a vacation court. He affirmed that due process was followed, citing compliance with relevant provisions of the law, including Order 46(5) of the Federal High Court rules and Section 17 of the Advance Fee Fraud Act, 2006.
In a sharp rebuke, the court further dismissed arguments that the EFCC lacked standing to pursue the case in the absence of a formal complaint from any individual or corporate body.
Justice Nwite described such claims as “baseless,” reinforcing the anti-graft agency’s statutory mandate to investigate and recover suspicious assets in the public interest.
The ruling effectively transfers the $13 million to the Federal Government, marking a significant victory for the EFCC in its ongoing efforts to trace and confiscate funds deemed to be proceeds of crime.
The case adds to a growing list of high-profile asset recovery actions, signalling the judiciary’s willingness to uphold anti-corruption laws and the EFCC’s resolve to pursue complex financial investigations to their conclusion.
Court Orders Final Forfeiture of $13m Linked to Achimugu’s Firm
