The Federal High Court in Abuja affirmed the final forfeiture of $13 million linked to Lagos socialite, Aisha Achimugu, and her company, Oceangate Engineering Oil & Gas Ltd, to the Federal Government.
Delivering the judgment, Justice Emeka Nwite held that the funds had been sufficiently established by the Economic and Financial Crimes Commission as proceeds of fraud and unlawful activities.
Justice Nwite held that the company failed to satisfactorily explain the source of the money, noting that the EFCC met all legal requirements to justify its forfeiture.
The judge dismissed claims that the $13 million constituted gifts received by Oceangate through Achimugu, adding that Achimugu did not appear before the court to justify why the funds should not be forfeited.
He further observed that no individual who allegedly made the monetary gifts was called to testify.
The judge also held that Oceangate did not demonstrate any business activity that generated the funds, nor did it provide evidence of payments from customers.
Justice Nwite had, on August 22, 2025, granted an ex parte application by the EFCC for the interim forfeiture of the sum, directing the anti-graft agency to publish the order in a national daily for interested parties to show cause within 14 days.
In an affidavit deposed to by an EFCC investigator, Usman Aliyu, the commission stated that it received intelligence alleging that Oceangate used funds suspected to be proceeds of unlawful activity to acquire oil blocks from the Nigerian Upstream Petroleum Regulatory Commission.
Aliyu said investigations showed that the company participated in the 2024 oil block licensing bid for deep offshore PPL302 and shallow water PPL3007 and was declared a successful bidder.
