A Federal Capital Territory (FCT) High Court sitting in Apo has ordered the permanent forfeiture of assets valued at about ₦8.94 billion and 11 luxury vehicles linked to businesswoman and Oceangate Engineering Oil & Gas Ltd founder, Aisha Achimugu, to the Federal Government.
Gatekeepers News reports that Justice Jude Onwugbuzie granted the final forfeiture order on Thursday after upholding an application filed by the Economic and Financial Crimes Commission (EFCC). The assets forfeited include jewellery valued at approximately ₦4.65 billion, 11 exotic vehicles worth about ₦4.29 billion, as well as $50,000 and ₦30 million in cash.
The ruling comes amid ongoing investigations into Achimugu over alleged money laundering and unlawful acquisition of assets. The EFCC declared her wanted in 2025 before arresting her at the Nnamdi Azikiwe International Airport in Abuja on April 29 of the same year.
The latest order follows an earlier judgment delivered in March 2026, when a Federal High Court in Abuja ordered the final forfeiture of $13 million linked to Achimugu and Oceangate Engineering Oil & Gas Ltd after the court held that the anti-graft agency had established the funds were proceeds of unlawful activities. The company has since challenged that decision on appeal.
