A Federal Capital Territory (FCT) High Court sitting in Apo, Abuja, has ordered the final forfeiture of multi-billion-naira assets linked to businesswoman Aisha Achimugu to the Federal Government.
The assets include jewellery valued at ₦4.645 billion, 11 exotic vehicles worth ₦4.293 billion, $50,000 in cash, and ₦30 million.
Justice Jude Onwuegbuzie delivered the ruling on Thursday, July 16, 2026, granting the Economic and Financial Crimes Commission (EFCC)’s application for the permanent forfeiture of the assets after finding they were proceeds of unlawful activities.
According to the EFCC, investigations were launched after intelligence reports revealed massive financial transactions involving more than 136 bank accounts linked to Achimugu, with inflows and outflows amounting to billions of naira and millions of dollars.
The Commission said its probe uncovered that funds passing through companies associated with Achimugu were not declared as company revenue in financial statements submitted to the Federal Inland Revenue Service (FIRS).
During searches conducted at her residence, EFCC operatives recovered the jewellery, luxury vehicles and cash later forfeited by the court. The anti-graft agency further stated that although Achimugu completed an Assets Declaration Form during interrogation, she allegedly failed to declare the recovered assets.
The EFCC maintained that its investigation established that the funds traced to accounts linked to Achimugu were not generated from legitimate business activities and that the recovered assets could not be linked to lawful sources.
Following its investigation, the Commission, through its legal team led by Senior Advocate of Nigeria (SAN) Ekele Iheanacho, applied for an interim forfeiture order under Section 17 of the Advance Fee Fraud and Other Related Offences Act.
On April 23, 2026, Justice Onwuegbuzie granted the interim forfeiture order and directed the EFCC to publish it in national newspapers, giving interested parties 14 days to show cause why the assets should not be permanently forfeited.
After complying with the publication order, the EFCC filed a motion for final forfeiture. Achimugu, through her lawyers, opposed the application by filing affidavits and a motion seeking to set aside the interim order, which the EFCC challenged with a counter-affidavit.
After hearing arguments from both parties, the court reserved judgment until July 16, 2026.
In its final ruling, the court held that Achimugu failed to rebut the evidence presented by the EFCC or prove that the assets were lawfully acquired, and consequently ordered their permanent forfeiture to the Federal Government of Nigeria.
