Court Upholds $13M Forfeiture Linked to Aisha Achimugu

On Wednesday, August 22, 2025, the Federal High Court in Abuja, presided over by Justice Emeka Nwite, affirmed the final forfeiture of $13 million associated with Aisha Achimugu and her company, Ocean Engineering Oil and Gas Ltd. The court ruled that the company failed to satisfactorily explain the source of the funds, which the Economic and Financial Crimes Commission (EFCC) established as proceeds of financial crime.

The EFCC had previously obtained an interim forfeiture order, claiming the funds were linked to unlawful activities related to oil block acquisitions. The court dismissed the company's claims that the funds were a gift and noted that no individual testified to substantiate this claim.

The EFCC's investigation revealed that the company participated in oil block licensing bids and made significant payments to the federal government, but the court found no evidence of legitimate business activities. The company’s defense, led by Iliya Wakil, argued that the funds were legitimately earned, but the court ruled otherwise.