By Opeyemi Adelakun
A Federal Capital Territory High Court sitting in Apo, Abuja, has ordered the final forfeiture of assets valued at about N8.94 billion and linked to businesswoman and founder of Oceangate Engineering Oil and Gas Limited, Aisha Achimugu.
Justice Jude Onwugbuzie granted the order on Thursday after upholding an application filed by the Economic and Financial Crimes Commission (EFCC), directing that the assets be permanently forfeited to the Federal Government.
The forfeited assets include jewellery valued at N4.65 billion, 11 luxury vehicles worth N4.29 billion, 50,000 United States dollars in cash and N30 million.
Achimugu first attracted national attention in January 2024 when she celebrated her 50th birthday with a lavish seven-day event in Grenada that featured several Nigerian celebrities and prominent personalities.
More than a year later, the Economic and Financial Crimes Commission declared her wanted over allegations of money laundering before arresting her at the Nnamdi Azikiwe International Airport, Abuja, on April 29, 2025.
The latest court order comes months after Justice Emeka Nwite of the Federal High Court in Abuja ordered the final forfeiture of 13 million United States dollars allegedly linked to Achimugu and Oceangate Engineering Oil and Gas Limited.
In that judgment delivered in March 2026, the court held that the anti-graft agency had successfully established that the funds were proceeds of fraud.
Following the ruling, Oceangate Engineering Oil and Gas Limited announced plans to challenge the forfeiture at the Court of Appeal.
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