An FCT High Court in Apo has granted the final forfeiture of jewellery worth over ₦4.6 billion, eleven exotic cars valued at ₦4.293 billion, $50,000 and ₦30 million in cash linked to businesswoman Aisha Achimugu to the Federal Government, in the latest legal blow to the Oceangate Engineering founder already facing money laundering allegations.
The party in Grenada feels like a lifetime ago. Now, the assets are going — one court order at a time.
An FCT High Court in Apo on Thursday granted the final forfeiture of properties linked to businesswoman Aisha Achimugu, founder of Oceangate Engineering Oil & Gas Ltd, to the Federal Government, following an application by the Economic and Financial Crimes Commission (EFCC), according to court proceedings reported Thursday.
The Cable reports that presiding judge Justice Jude Onwugbuzie signed off on the forfeiture of a jaw-dropping haul: jewellery valued at ₦4,645,170,294.9, eleven exotic cars worth ₦4.293 billion, $50,000, and ₦30 million in cash.
The ruling adds to Achimugu’s mounting legal troubles. In March 2026, a separate Federal High Court in Abuja presided over by Justice Emeka Nwite had already ordered the final forfeiture of $13 million allegedly linked to Achimugu and Oceangate, after the EFCC proved the funds were proceeds of fraud. Oceangate subsequently announced it was filing an appeal against that order.
Achimugu first grabbed national attention in January 2024 when she threw a seven-day 50th birthday celebration on the Caribbean island of Grenada, attended by top Nigerian entertainers and prominent public figures. The spectacle drew widespread scrutiny over the source of her wealth.
The EFCC declared her wanted over money laundering allegations before arresting her at Nnamdi Azikiwe International Airport, Abuja on April 29, 2025. Reports have also alleged that the businesswoman received financial backing from unnamed politicians — claims that added political dimensions to what began as a financial crimes investigation.
NEWS NOW:
