Source: Africa Publicity
A high court in Apo within Nigeria’s Federal Capital Territory (FCT) has granted final forfeiture of properties linked to Nigerian businesswoman and founder of Oceangate Engineering Oil & Gas Ltd, Aisha Achimugu.
The presiding judge, Jude Onwugbuzie, granted final forfeiture of the properties to the federal government on Thursday, July 16, 2026.
The ruling followed an application by Nigeria’s Economic and Financial Crimes Commission (EFCC).
The properties include jewellery worth N4,645,170,294.9 billion, eleven exotic cars worth N4.293 billion, $50,000 and N30 million in cash.
Background:
In January 2024, Achimugu made the headlines when she set the Caribbean Island of Grenada alight with a seven-day 50th birthday party attended by some of the crème de la crème of the Nigerian entertainment industry and prominent figures.
Over a year after, the EFCC declared Achimugu wanted over money laundering allegations. On April 29, 2025, EFCC arrested the businesswoman at the Nnamdi Azikiwe International Airport, Abuja.
In March 2026, a federal high court in Abuja granted an order of final forfeiture of the sum of $13 million allegedly linked to Achimugu, and Oceangate Engineering Oil & Gas Ltd.
Emeka Nwite, presiding judge, had held that the EFCC was able to prove that the funds were proceeds of fraud.
After the judgment, the firm said it has commenced the process of filing an appeal against the final forfeiture order.
Amid the controversy of the funds allegedly linked to Achimugu’s firm, there were reports alleging that the businesswoman was being sponsored by some politicians.
