A Federal High Court in Abuja has ordered the final forfeiture of $13 million linked to businesswoman Aisha Achimugu and her company, Oceangate Engineering Oil & Gas Ltd, to the Federal Government.
Gatekeepers News reports that in a judgment delivered on Wednesday, Justice Emeka Nwite held that Economic and Financial Crimes Commission (EFCC) successfully established that the funds were proceeds of fraud and unlawful activities.
The court ruled that neither Achimugu nor her company was able to provide credible evidence showing that the money was legitimately acquired. It also rejected claims that the funds were gifts, noting that no proof or witnesses were presented to support such assertions.
The forfeiture followed a suit filed by the EFCC after earlier securing an interim order in August 2025, which required interested parties to show cause why the money should not be permanently seized.
During the proceedings, the court held that Oceangate Engineering failed to demonstrate any genuine business activities or transactions that could justify ownership of the funds. It further noted that the burden of proof placed on the company to establish legitimacy was not met.
Investigations by EFCC had linked the funds to suspicious financial flows, including transactions connected to oil block acquisitions, reinforcing the agency’s claim that the money originated from unlawful sources.
