Aisha Achimugu: Why EFCC demanded forfeiture of N4.6b jewelries, N4.3b exotic cars, $50m, N30m

By Ayorinde Oluokun

Justice Jude Onwugbuzie of FCT High Court on Thursday granted application by the Economic and Financial Crimes Commission, EFCC, for final forfeiture of the multi- billion naira properties and funds linked to Abuja socialite, Ms Aisha Achimugu to Federal Government of Nigeria.

Dele Oyewale, the spokesperson for EFCC in a statement identified the properties to be forfeited by the businessman, according to the court order to include jewelries worth N4,645,170, 294.9 billion, 11 exotic cars worth N4.293 billion, $50, 000 and N30 million cash.

Oyewale said EFCC made the application for the forfeiture order after its investigations revealed that the assets were proceeds of unlawful activities by Achimugu.

The anti-graft agency said its investigations followed its receipt of financial intelligence showing huge inflows and outflows from over 136 bank accounts linked to Aisha Achimogu which ran into billions of naira and millions of dollars.

EFCC said 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).

The anti-graft agency added that in the course of investigation, it executed searches at the residence of Achimugu where the assets forfeited were recovered.

It also added that during her interrogation, Achimugu was given Assets Declaration Form to fill, but she did not disclose the recovered assets as her properties.

According to EFCC, investigations 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.

The anti-graft agency said based on the outcome of the investigation, 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.

Justice Jude Onwuegbuzie granted the application on April 23, 2026, 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 said it complied with the order of the court and published the order.

The anti grat agency added that it further filed a motion for final forfeiture of the properties while 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.

But this was further opposed by the EFCC through a counter affidavit following which the court adjourned today, 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.