Justice Emeka Nwite of the Federal High Court, Abuja, has ordered the final forfeiture of $13 million linked to businesswoman Aisha Achimugu and her company, Oceangate Engineering Oil & Gas Ltd, to the Federal Government.
In a judgment delivered on Wednesday, the court held that the funds were proven to be proceeds of unlawful activities, as established by the Economic and Financial Crimes Commission (EFCC).
The court ruled that Oceangate failed to provide credible evidence explaining the source of the money. It rejected the company’s claim that the funds were gifts received through Achimugu, noting that neither the alleged donors nor Achimugu herself appeared before the court to substantiate the claim.
Justice Nwite stated that the burden of proving legitimate ownership of the funds was not discharged by the company. He added that there was no evidence of any business activity or customer payments that could justify the origin of the $13 million.
The EFCC had earlier secured an interim forfeiture order in August 2025 and subsequently published notices inviting interested parties to show cause why the funds should not be permanently forfeited. However, the court found that the responses provided were insufficient.
According to the anti-graft agency, investigations revealed that the funds were linked to transactions involving the acquisition of oil block licences, with the money allegedly routed through unofficial channels and individuals without clear business relationships with the company.
Based on the evidence presented, the court concluded that the funds were proceeds of fraud and ordered their final forfeiture to the Federal Government.
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