A Federal High Court, sitting in Abuja, on Thursday, ordered the final forfeiture of multi-billion naira assets and cash belonging to Aisha Achimugu, an Abuja socialite and businesswoman, to the Federal Government.
In what has been described as a historic judgement, the trial judge, Justice Jude Onwugbuzie stripped the embattled Achimugu of her high-value possessions, running into several billions of naira.
Justice Onwugbuzie, in his ruling, permanently transferred the ownership of ultra-luxury vehicles, cash, and the most expensive forfeited jewellery Nigeria has witnessed in recent times to the Nigerian Government.
Achimugu And Her Multi-Billion Naira Assets Forfeiture
In what has been described as one of the biggest legal battle against corruption in the country ever, the judgment on the sheet scale of the seized assets has reportedly sent shock waves across the business and social circles.
The Abuja Federal High Court ordered the permanent confiscation of high-valued personal items of Aisha Achimugu, including an array of designer jewellery valued at ₦4,645,170,294.90.
Also confiscated alongside the luxury jewelry, were 11 exotic and high-end automobiles, valued at ₦4.293 billion.
In addition, the court ordered the seizure of substantial cash, including $50,000 and ₦30 million, as Justice Onwugbuzie granted the application contained in the submission by the Economic and Financial Crimes Commission (EFCC).
EFCC And The Legal Battle Over The Aisha Achimugu Multi-Billion Naira Asset
EFCC had presented a compelling argument to the court, arguing that the assets were proceeds of unlawful activities.
Of the strong conviction that the assets had no clear, legitimate source of funding, the anti-corruption commission filed an application seeking for their permanent forfeiture.
With the court ruling, the agency may have marked another major milestone in its ongoing anti-corruption campaign.
This is the second time the embattled Aisha Achimugu would suffer a major legal setback, even as Thursday’s ruling have finally closed the door on any possibility of reclamation of her assets.
The Abuja-based socialite had, last March, suffered a huge legal defeat when Justice Emeka Nwite of the Federal High Court, Abuja ordered the final forfeiture of the sum of $13 million belonging to her.
The forfeited sum was linked to the company owned by the woman, Oceangate Engineering Oil and Gas Limited.
EFCC had dragged Oceangate Engineering Oil & Gas Ltd before the court regarding the ownership of the $13 million, suspected to be proceeds of fraud and unlawful activities.
Delivering judgment in a suit instituted by Oceangate Engineering Oil & Gas Ltd to claim the funds, Justice Nwite held that the company failed woefully to establish how it came about the money.
He stressed that the EFCC, on the other hand, succeeded in convincing the court that the funds are proceeds of fraud and should be forfeited to the government.
The judge dismissed claims that the $13 million was gifts received into the Oceangate Engineering Company by Aisha Achimugu.
He added that Achimugu never showed up in court to show cause why the funds should not be forfeited to the Federal Government.
Justice Nwite further said no single person who gave the monetary gifts to Achimugu to the tune of $13 million was called to testify.
The judge held that the burden to establish genuine ownership of the money was not established by the applicant to counter the claims of the EFCC that the money was proceeds of fraud, based on its investigation.
According to the judge, Oceangate Engineering Oil & Gas Ltd did not show the business it undertook that fetched it the money and did not also show whether any payment was made to it by any of its customers.
Recall that Justice Nwite had earlier, on 22 August 2025, granted EFCC an interim order forfeiting the $13 million linked to Oceangate Engineering Oil & Gas Ltd to the government.
The embattled socialite is not a stranger to the public eye, especially the business world. She is the Managing Director of the Felak Concept Group.
In January 2024, she made global headlines with an incredibly lavish 50th birthday celebration, with prominent Nigerians, including a state governor, in attendance.
The seven-day event took place on the exclusive Calivigny Island in Grenada. It reportedly cost about $1 million.
The birthday celebration featured private jets, luxury yachts, and multiple outfit changes. Such displays of extreme wealth naturally drew the attention of financial regulators.
The massive collection of jewellery that has now been forfeited to the Nigerian Government was believed to be connected to the ultra-luxury lifestyle of the businesswoman-cum socialite.
