The anti-corruption campaign of the Economic and Financial Crimes Commission (EFCC) recorded another major legal victory on Thursday as the Federal Capital Territory (FCT) High Court sitting in Apo, Abuja, ordered the final forfeiture of assets worth over ₦8.9 billion linked to prominent businesswoman, Aisha Achimugu, to the Federal Government.
The judgment, delivered by Justice Jude Onwugbuzie, granted the EFCC’s application for the permanent forfeiture of the assets after the court was satisfied that the commission had met the legal requirements for their confiscation.
The forfeited properties comprise luxury jewellery valued at ₦4,645,170,294.90, 11 exotic vehicles worth ₦4.293 billion, $50,000 in cash and ₦30 million. The combined value of the assets exceeds ₦8.9 billion, making it one of the most significant asset forfeiture orders secured by the EFCC in recent months.
Justice Onwugbuzie made the order while ruling on the commission’s application seeking the final forfeiture of the assets after earlier interim proceedings. With the judgment, ownership of the properties now officially vests in the Federal Government.
The ruling adds another chapter to the series of legal challenges confronting Achimugu and companies linked to her business interests.
Only a few months ago, the Federal High Court in Abuja ordered the permanent forfeiture of $13 million connected to Achimugu’s company, Oceangate Engineering Oil & Gas Limited, after holding that the funds were proceeds of unlawful activities. In that judgment, the court ruled that the company failed to establish the legitimate source of the money and rejected claims that the funds represented gifts, noting that no credible evidence or witnesses were presented to support that defence.
Court documents in the earlier case indicated that the EFCC alleged the funds were linked to suspicious financial transactions associated with oil block acquisitions and cash movements conducted outside recognised banking channels. The court ultimately held that the anti-graft agency had successfully discharged the burden required under the law for final forfeiture.
Thursday’s judgment further strengthens the EFCC’s ongoing efforts to recover assets suspected to be proceeds of unlawful activities through civil forfeiture proceedings, a legal mechanism that allows the commission to seek permanent confiscation of properties where the court is satisfied they are connected with alleged illicit conduct.
The commission has consistently maintained that asset recovery remains a critical component of Nigeria’s anti-corruption strategy, alongside investigation and prosecution of financial crimes. Thursday’s ruling represents another significant milestone in that campaign.
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