A Federal Capital Territory High Court sitting in Apo, Abuja, has ordered the final forfeiture of assets linked to a notable businesswoman, Aisha Achimugu, to the Federal Government after ruling that they were proceeds of unlawful activities.
Justice Jude Onwuegbuzie made the order on Thursday, July 16, 2026, while delivering judgment in an application filed by the Economic and Financial Crimes Commission (EFCC).
The forfeited assets include jewellery valued at N4.645 billion, 11 exotic vehicles worth N4.293 billion, $50,000 in cash and N30 million.
The EFCC said its investigation began after receiving financial intelligence indicating massive inflows and outflows through more than 136 bank accounts linked to Achimugu, involving billions of naira and millions of dollars.
According to the Commission, investigations revealed that the large sums that passed through companies operated by the businesswoman were not declared as revenue in their financial statements submitted to the Federal Inland Revenue Service (FIRS).
The anti-graft agency further stated that searches conducted at Achimugu’s residence led to the recovery of the forfeited assets.
It added that although Achimugu completed an Assets Declaration Form during interrogation, she allegedly failed to declare the recovered jewellery, vehicles and cash as part of her assets.
The EFCC maintained that its findings showed the huge funds traced to accounts linked to Achimugu did not originate from her legitimate business activities and that the recovered assets were acquired from unlawful sources.
Following the investigation, the Commission, through its legal team led by Senior Advocate of Nigeria 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 the order in national newspapers, inviting any interested person to show cause within 14 days why the assets should not be permanently forfeited to the Federal Government.
The Commission subsequently published the notice and later filed an application seeking final forfeiture of the assets.
Achimugu, through her legal team, opposed the application by filing affidavits to show cause and a motion seeking to set aside the interim forfeiture order. The EFCC responded with a counter-affidavit, after which the court heard arguments from both parties and reserved judgment.
Delivering judgment on Thursday, Justice Onwuegbuzie held that Achimugu failed to rebut the evidence presented by the EFCC or establish that the forfeited assets were acquired from lawful sources.
The court consequently granted the Commission’s application and ordered the permanent forfeiture of the jewellery, luxury vehicles and cash to the Federal Government.
