Abuja Court Orders Final Forfeiture of N9bln Jewellery, Exotic Cars, Cash Linked to Aisha Achimugu
By Omoyeni Ojeifo
The Economic and Financial Crimes Commission (EFCC) has secured a final forfeiture order over assets worth N9 billion linked to businesswoman Aisha Achimugu following a ruling by a Federal Capital Territory High Court in Apo, Abuja.
Justice Jude Onwuegbuzie granted the order on Thursday, July 16, following an application by the EFCC for the final forfeiture of the assets to the Federal Government.
The assets comprise jewellery valued at ₦4,645,170,294.09, 11 exotic vehicles worth ₦4.293 billion, $50,000 cash and ₦30 million in cash.
According to the EFCC, investigations were launched after it received financial intelligence indicating huge inflows and outflows through more than 136 bank accounts linked to Achimugu, involving billions of naira and millions of dollars.
The Commission alleged that funds passing through companies associated with Achimugu were not disclosed as revenue in financial statements filed with the Federal Inland Revenue Service (FIRS), describing the transactions as proceeds of unlawful activities.
The EFCC further said it executed search operations at Achimugu’s residence, where the assets were recovered.
It added that although she completed an Assets Declaration Form during questioning, the recovered assets were allegedly not declared as part of her property.
According to the anti-graft agency, investigations also showed that funds traced to the linked accounts were not generated from legitimate business activities and that the recovered assets were not acquired from lawful sources.
Justice Onwuegbuzie subsequently granted the Commission’s application, ordering the final forfeiture of the jewellery, luxury vehicles and cash to the Federal Government.
The final forfeiture order permanently transfers ownership of the affected assets to the Federal Government unless successfully overturned through the judicial process.
Persecondnews recalls that Justice Emeka Nwite of the Federal High Court in Abuja had in March 2026 ordered the final forfeiture of $13 million linked to Oceangate Engineering Oil & Gas Ltd, a company associated with Achimugu, after ruling that the firm failed to establish the legitimate source of the funds.