A Federal Capital Territory High Court sitting in Apo, Abuja, has ordered the final forfeiture of assets valued at about ₦8.94 billion allegedly linked to businesswoman and founder of Oceangate Engineering Oil & Gas Limited, Aisha Achimugu.
Justice Jude Onwugbuzie granted the order on Thursday following an application filed by the Economic and Financial Crimes Commission (EFCC), transferring ownership of the assets to the Federal Government.
The forfeited assets include jewellery estimated at ₦4.65 billion, 11 luxury vehicles valued at about ₦4.29 billion, as well as $50,000 and ₦30 million in cash.
The ruling marks another significant development in the anti-graft agency’s investigation into Achimugu over alleged money laundering and related financial crimes.
Achimugu came into public focus in January 2024 after hosting a lavish seven-day celebration to mark her 50th birthday on the Caribbean island of Grenada, an event attended by several prominent figures from Nigeria’s entertainment and business communities.
The EFCC subsequently declared her wanted over allegations of money laundering before arresting her on April 29, 2025, at the Nnamdi Azikiwe International Airport in Abuja.
The latest forfeiture order follows an earlier judgment delivered by the Federal High Court in Abuja in March 2026, which ordered the final forfeiture of $13 million allegedly linked to Achimugu and Oceangate Engineering Oil & Gas Limited.
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In that ruling, Justice Emeka Nwite held that the EFCC had established that the funds represented proceeds of unlawful activities.
Following the judgment, Oceangate Engineering Oil & Gas Limited indicated its intention to challenge the forfeiture order at the Court of Appeal.
The investigation has also attracted political attention amid reports alleging that some politicians supported the businesswoman, although no official findings have been made public regarding the claims.
The EFCC has maintained that the forfeiture proceedings form part of its broader efforts to recover assets suspected to have been acquired through illicit means and strengthen accountability within Nigeria’s financial system.
