A High Court of the Federal Capital Territory (FCT), sitting in Apo, Abuja, has ordered the final forfeiture of properties linked to businesswoman, Ms. Aisha Achimugu, to the Federal Government.
The forfeited assets include jewellery valued at N4,645,170,294.09 (Four Billion, Six Hundred and Forty-Five Million, One Hundred and Seventy Thousand, Two Hundred and Ninety-Four Naira, Nine Kobo); 11 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) in cash.
Justice Jude Onwuegbuzie made the final forfeiture order on Thursday, July 16, 2026, while delivering judgment on an application filed by the Economic and Financial Crimes Commission (EFCC).
According to the EFCC, the assets were proceeds of unlawful activities. The Commission said its investigation commenced after receiving financial intelligence revealing massive inflows and outflows through more than 136 bank accounts linked to Achimugu, involving billions of naira and millions of dollars.
The investigation further revealed that funds passing through companies allegedly operated by Achimugu were not declared as company revenue in financial statements filed with the Federal Inland Revenue Service (FIRS).
During the investigation, EFCC operatives executed search warrants at Achimugu’s residence, where the forfeited assets were recovered. The Commission stated that although she completed an Assets Declaration Form while being interrogated, she failed to declare the recovered assets as part of her property.
The EFCC maintained that its investigation established that the funds traced to accounts linked to Achimugu were not derived from legitimate business activities and that the recovered assets were acquired from unlawful sources.
Following the investigation, the EFCC, through its legal team led by Senior Advocate of Nigeria (SAN), Ekele Iheanacho, applied for an interim forfeiture order pursuant to Section 17 of the Advance Fee Fraud and Other Related Offences Act.
On April 23, 2026, Justice Onwuegbuzie granted the interim forfeiture application and directed the EFCC to publish the order in national newspapers, inviting any person with an interest in the assets to appear before the court within 14 days to show cause why a final forfeiture order should not be made.
The EFCC complied with the directive by publishing the interim order and subsequently filed a motion seeking the final forfeiture of the assets.
In response, Achimugu, through her legal team, filed affidavits to show cause why the assets should not be forfeited and also applied to set aside the interim forfeiture order. The EFCC opposed the application by filing a counter-affidavit.
After hearing arguments from counsel representing both parties, the court adjourned the matter until July 16, 2026, for judgment.
In its judgment delivered on Thursday, the court granted the EFCC’s application and ordered the final forfeiture of the assets to the Federal Government.
Justice Onwuegbuzie held that Achimugu failed to dislodge the evidence presented by the EFCC and did not discharge the burden of proving that the assets were acquired from legitimate sources.
