A Federal Capital Territory, FCT, High Court has granted a final forfeiture order of properties linked to a businesswoman, Ms. Aisha Achimugu to the federal government.
The properties include jewelries worth N4,645,170, 294.9 billion, Fourt Billion, Six Hundred and Forty-Five Million, One Hundred and Seventy Thousand, Two Hundred and Ninety-Four Naira, Nine Kobo, eleven exotic cars worth N4.293,000, 000, Four Billion, Two Hundred and Ninety-Three Million Naira, $50, 000, Fifty Thousand United States Dollars, and N30, 000,000, Thirty Million Naira, cash.
Justice Jude Onwugbuzie granted the order on Thursday, July 16, 2026, in a judgment on the application for final forfeiture of the properties by the Economic and Financial Crimes Commission, EFCC.
The assets were found by the EFCC as proceeds of unlawful activities. Investigations by the Commission followed its receipt of financial intelligence showing huge inflows and outflows from over 136, One hundred and thirty-six, bank accounts linked to Aisha Achimogu which ran into billions of naira and millions of dollars. The investigation carried out showed that the huge funds that passed through the companies operated by her were not disclosed as revenue of the companies in their financial statements filed at the Federal Inland Revenue Services, FIRS.
In the course of investigation, the Commission executed searches at the residence of Achimugu where the assets forfeited were recovered. While being interrogated, she was given Assets Declaration Form which she filled but did not disclose the recovered assets as her properties. The finding by the EFCC showed that the huge funds received into accounts linked to her were not from her legitimate business activities and that the recovered assets were not from lawful sources
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Following the outcome of the investigation, the EFCC through its legal team, led by Ekele Iheanacho SAN, filed an application for an interim order forfeiting the properties to the Federal Government of Nigeria in line with Section 17 of the Advance Fee Fraud and other related offences Act.
The matter came up before Justice Jude Onwuegbuzie and on April 23, 2026, the court granted the application and directed the EFCC to publish the said order in national dailies for any person in possession or interested in the assets to show cause within 14 days why the final forfeiture order should not be granted
EFCC complied with the order of the court and published the order. EFCC further filed a motion for final forfeiture of the properties. Achimugu through her legal team filed affidavits to show cause why the assets should not be forfeited as well as a motion to set aside the interim order. This was further opposed by the EFCC through a counter affidavit. The court took arguments from parties represented by the counsel and adjourned to July 16, 2026, for judgment.
On Thursday, the court delivered judgment and granted a final order forfeiting the assets to the federal government of Nigeria. The court found that Achimugu did not dislodge the evidence led by the EFCC and also failed to discharge the burden of showing that the assets were from lawful origins.
THE GAVEL
