A Federal Capital Territory High Court in Apo, Abuja, has ordered the permanent forfeiture of billions of naira worth of assets linked to businesswoman Aisha Achimugu to the Federal Government.
Justice Jude Onwugbuzie issued the order after granting an application by the Economic and Financial Crimes Commission (EFCC), which sought the final forfeiture of the assets following an earlier interim forfeiture order.
The court held that the anti-graft agency had met the legal requirements for the permanent confiscation of the properties.
Among the assets forfeited are jewellery valued at approximately ₦4.65 billion, 11 luxury vehicles worth about ₦4.29 billion, $50,000 in cash and an additional ₦30 million.
The ruling marks the conclusion of the forfeiture proceedings initiated by the EFCC, which alleged that the assets were linked to unlawful activities.
Achimugu is currently under investigation by the commission over allegations of conspiracy, obtaining money by false pretences, money laundering, corruption and possession of assets suspected to have been unlawfully acquired.
Earlier this year, a Federal High Court in Abuja ordered the EFCC to release Achimugu within 24 hours after she honoured the court’s directive to appear before the commission over the investigation.
She was arrested at the Nnamdi Azikiwe International Airport in Abuja as part of the ongoing probe before subsequently being released in compliance with the court’s order.
The businesswoman has remained in the spotlight since the EFCC declared her wanted and obtained previous forfeiture orders, including the permanent confiscation of $13 million linked to her company, Oceangate Engineering Oil & Gas Ltd.
Investigators had alleged that part of the forfeited funds was connected to contracts involving the Lagos State Government.
Achimugu, however, has consistently denied any wrongdoing and rejected claims linking the source of her wealth to Lagos State Governor Babajide Sanwo-Olu, maintaining that she built her oil and gas business long before her political associations.
