A Federal High Court in Abuja has ordered the final forfeiture of $13 million linked to Aisha Achimugu’s company, ruling the funds were not proven to be legitimately obtained.
The Federal High Court in Abuja has ordered the final forfeiture of $13 million linked to Oceangate Engineering Oil & Gas Ltd, a company associated with businesswoman Aisha Achimugu. Justice Emeka Nwite ruled that the funds should be forfeited to the Federal Government after determining that their lawful origin was not proven.
The court held that explanations by the company, including claims that the funds came from gifts and oil and gas earnings, were not backed by credible evidence. The Economic and Financial Crimes Commission argued that the money was linked to suspicious transactions involving contractors and alleged unlawful activities, a position the court upheld.
Investigations presented in court alleged that the funds were part of a complex scheme involving multiple bank accounts and intermediaries, with no clear business relationship between the company and the sources of the money. The judge dismissed objections to the court’s jurisdiction and described arguments against the forfeiture as baseless, affirming the final seizure of the funds.
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