Court Orders Final Forfeiture of Aisha Achimugu’s ₦8.9bn Assets

​A Federal Capital Territory (FCT) High Court sitting in Apo, Abuja, has ordered the permanent forfeiture of assets valued at approximately ₦8.9 billion linked to businesswoman Aisha Achimugu. Justice Jude Onwugbuzie granted the final forfeiture order on Thursday, July 16, 2026, following a rigorous legal application by the Economic and Financial Crimes Commission (EFCC).

​The forfeited items represent a massive recovery for the federal government and include jewellery valued at ₦4,645,170,294.90, 11 luxury vehicles worth ₦4.293 billion, $50,000 in cash, and ₦30 million in cash.

​Background of the Investigation

​The court’s decision follows a comprehensive financial investigation launched by the EFCC. Intelligence reports revealed massive, unexplained inflows and outflows across more than 136 bank accounts associated with Ms. Achimugu. Investigators discovered that substantial funds passing through her companies were not declared as revenue in financial statements submitted to the Federal Inland Revenue Service (FIRS).

​During the execution of search warrants at her residence, the anti-graft agency recovered the high-value assets. Although Ms. Achimugu was presented with an Assets Declaration Form during interrogation, she failed to disclose these recovered items as part of her personal property.

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​Legal Proceedings

​The EFCC, led by Ekele Iheanacho (SAN), initiated the proceedings under Section 17 of the Advance Fee Fraud and Other Related Offences Act. On April 23, 2026, the court initially granted an interim forfeiture order and mandated the publication of the ruling in national dailies to allow any interested parties to contest the seizure.

​While Ms. Achimugu’s legal team filed affidavits and motions seeking to set aside the interim order and prevent permanent forfeiture, the court ultimately sided with the EFCC. Justice Onwugbuzie ruled that Ms. Achimugu failed to rebut the commission’s evidence or provide a credible, lawful origin for the assets.

​Pattern of Asset Recoveries

​This ruling is the latest in a series of legal setbacks for the businesswoman. In March 2026, the Federal High Court in Abuja, presided over by Justice Emeka Nwite, ordered the final forfeiture of $13 million linked to Ms. Achimugu and her company, Oceangate Engineering Oil & Gas Limited.

​In that case, the court rejected claims that the funds were “gifts” or proceeds from legitimate business transactions, concluding that the company failed to provide verifiable evidence of a lawful source of income. Collectively, these rulings underscore the government’s intensifying crackdown on assets suspected to be the proceeds of unlawful financial activities.