BREAKING: Billionaire Lady Aisha Achimugu Forfeits N4.6bn Jewelry, N4bn Cars To Govt BY Court Order
A Federal Capital Territory, FCT, High Court sitting in the Apo, Abuja, today granted the final forfeiture of assets linked to a business woman, Ms Aisha Achimugu to the federal government.
The assets include:
- Jewelry worth N4,645,170, 294.9 billion (Four Billion, Six Hundred and Forty-Five Million, One Hundred and Seventy Thousand, Two Hundred and Ninety-Four Naira, Nine Kobo)
- Eleven exotic cars worth 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) cash.
Justice Jude Onwugbuzie granted the order on Thursday, July 16 2026 in a judgment on the application for final forfeiture of the properties by the Economic and Financial Crimes Commission, EFCC.
The anti-graft agency placed Achimugu under investigation for alleged conspiracy, obtaining money by false pretence, money laundering, corruption and possession of property reasonably suspected to have been acquired through unlawful means.
It told the court that the applicant operated a total of 136 bank accounts across ten different banks, both in her personal and corporate names.
According to the EFCC: “Further investigation in the affidavit however, indicated that Achimugu’s company actually acquired two oil blocks, Shallow Water PPL 3007 and Deep Offshore PPL 302-DO at the cost of $25.3 million.
“Investigations showed that the payments were allegedly made in cash via bureau de change operators and that the ultimate sources of the funds could not be traced to any legitimate business income or partnerships.”
The commission alleged that the acquisition process was fraught with corruption, adding that “despite the acquisition, neither of the two oil blocks had commenced exploration or production as of the time of investigation.”
The EFCC insisted that the legal action Achimugu initiated against it and other security agencies was “a calculated attempt to frustrate the ongoing investigation, despite a previous court decision in suit No. FHC/ABJ/CS/451/2024 dismissing her claim of fundamental rights violations.”
