A High Court of the Federal Capital Territory (FCT), Abuja, has ordered the final forfeiture of multi-billion naira assets linked to businesswoman and founder of Oceangate Engineering Oil & Gas Ltd., Aisha Achimugu, to the Federal Government.
The order was granted on Thursday by Justice Jude Onwugbuzie following an application filed by the Economic and Financial Crimes Commission (EFCC).
The forfeited assets include jewellery valued at N4,645,170,294.90, 11 exotic vehicles worth N4.293 billion, $50,000, and N30 million in cash.
The ruling marks another significant development in the EFCC’s ongoing investigations into alleged money laundering involving Achimugu.
Achimugu first drew widespread public attention in January 2024 after hosting an extravagant seven-day celebration for her 50th birthday on the Caribbean Island of Grenada. The event attracted several prominent Nigerian entertainers, business leaders, and influential personalities.
The EFCC later declared her wanted over allegations of money laundering before arresting her on April 29, 2025, at the Nnamdi Azikiwe International Airport in Abuja.
This is not the first forfeiture order involving the businesswoman. In March 2026, Justice Emeka Nwite of the Federal High Court, Abuja, ordered the final forfeiture of $13 million allegedly linked to Achimugu and her company, Oceangate Engineering Oil & Gas Ltd.
The court held that the EFCC had established that the funds were proceeds of unlawful activities. Following that judgment, Oceangate Engineering Oil & Gas Ltd. announced plans to appeal the forfeiture order.
The latest ruling further strengthens the EFCC’s efforts to recover assets suspected to have been acquired through illicit means, as investigations into the case continue.
Source: Economic and Financial Crimes Commission (EFCC) / Court Proceedings.