A Federal High Court in Abuja has upheld the Aisha Achimugu $13m forfeiture, ordering the final seizure of funds linked to Aisha Achimugu and her company, Oceangate Engineering Oil & Gas Ltd.
Justice Emeka Nwite ruled that the Economic and Financial Crimes Commission (EFCC) proved the funds came from unlawful activities.
Court Rejects Claims in Forfeiture Case
Oceangate filed a suit to recover the funds. However, the court rejected its claims, stating that the company failed to provide a credible explanation for the source of the money.
Furthermore, the court dismissed the argument that the funds were gifts. It noted that Achimugu did not appear to defend the origin of the money, while no witness came forward to support the claim.
EFCC Strengthens Case with Evidence
The EFCC presented evidence linking the funds to suspicious financial transactions. As a result, the court held that the agency met all legal requirements to justify the forfeiture.
In addition, the court found that the company could not prove legitimate ownership or show any business activity capable of generating such funds.
Background to the Investigation
The case started in August 2025 when the court granted an interim forfeiture order. Subsequently, it directed the EFCC to publish the notice and invite interested parties to challenge it.
Later, investigators uncovered the company’s involvement in oil block licensing and large payments to the Federal Government.
Disputed Transactions Raise Concerns
The EFCC alleged that part of the funds came from cash transactions outside formal banking channels. Moreover, investigators traced the money to intermediaries and unlicensed operators.
In response, the company insisted the funds came from legitimate earnings and gifts. However, the court rejected the claims due to lack of evidence.
After reviewing all submissions, the court dismissed the company’s case and upheld the final forfeiture of the funds.
