Court Orders Final Forfeiture of ₦11.2 Billion Linked to Businesswoman Aisha Achimugu

Court Orders Forfeiture of ₦11.2 Billion Linked to Aisha Achimugu

An Abuja Federal High Court has ordered the final forfeiture of $7 million (about ₦11.2 billion) linked to Aisha Achimugu, a businesswoman and associate of Lagos State Governor Babajide Sanwo-Olu.

The funds, reportedly discovered in a vault at Providus Bank in Ikoyi, Lagos, were flagged by the Economic and Financial Crimes Commission (EFCC) as suspicious deposits. According to court filings, the money was allegedly brought to the bank on behalf of Achimugu under unclear circumstances. While she reportedly claimed the funds were part of a loan arrangement, investigators insisted no credible documentation was provided.

Justice Inyang Ekwo, in his ruling, granted the EFCC’s application for final forfeiture, noting that no party with legitimate interest came forward to contest the interim order. As a result, the funds have now been forfeited to the Federal Government.

The judgment adds to ongoing debates about financial accountability.