The Federal High Court in Abuja has ordered the permanent forfeiture of $13 million associated with businesswoman Aisha Achimugu and her firm, Oceangate Engineering Oil & Gas Limited, to the Federal Government.
The Economic and Financial Crimes Commission disclosed the development in a statement shared via its official X handle on Wednesday.
Delivering judgment, Justice Emeka Nwite held that the company failed to convincingly explain the origin of the funds, which the anti-graft agency alleged were proceeds of unlawful activities.
“The court finds that the applicant could not provide satisfactory proof of the legitimate source of the funds, while the commission established a strong case linking the money to illicit dealings,” the judge stated.
He rejected the company’s claim that the money was received as gifts, noting that neither the alleged beneficiary nor any donor appeared before the court to support the assertion.
“The absence of any witness to confirm the so-called gifts further weakens the applicant’s case,” the court added.
Justice Nwite also faulted the company for failing to present evidence of any business transactions or payments that could justify the funds.
The commission had earlier obtained an interim forfeiture order in August 2025 and published it in a national daily, inviting interested parties to challenge the move.
In an affidavit, EFCC investigator Usman Aliyu told the court that the funds were linked to questionable transactions, including the acquisition of oil assets, and were suspected to have originated from misappropriated public funds, a position the court upheld in granting the final forfeiture.
