BREAKING: Court Orders Final Forfeiture of Aisha Achimugu’s Assets to FG

An FCT High Court sitting in Apo, Abuja, has ordered the final forfeiture of assets worth over N8.9 billion linked to businesswoman Aisha Achimugu to the Federal Government, following an application by the Economic and Financial Crimes Commission (EFCC).

Delivering judgment on Thursday, July 16, Justice Jude Onwugbuzie granted the EFCC’s application for the permanent forfeiture of the assets after finding that the Commission had met the legal requirements for the order.

The forfeited assets include jewellery valued at N4,645,170,294.90, 11 exotic vehicles worth N4.293 billion, $50,000 in cash and N30 million, bringing the total value of the seized assets to more than N8.9 billion.

The ruling marks the latest development in the EFCC’s ongoing investigation involving Achimugu. Earlier this year, a Federal High Court also ordered the final forfeiture of $13 million linked to her company, Oceangate Engineering Oil & Gas Ltd, after the court held that the funds were proceeds of unlawful activities.

The latest judgment reinforces the EFCC’s anti-corruption drive, with the Commission maintaining that the forfeiture process is aimed at recovering assets reasonably suspected to be proceeds of unlawful activities in line with existing laws.