A Federal Capital Territory (FCT) High Court sitting in Apo, Abuja, has granted the final forfeiture of properties linked to businesswoman Aisha Achimugu, including jewellery and cars worth ₦8.9 billion, to the Federal Government.
According to the Economic and Financial Crimes Commission (EFCC), the forfeited assets include jewellery worth ₦4,645,170,294.90, 11 exotic cars valued at ₦4,293,000,000, US$50,000, and ₦30,000,000 in cash.
Justice Jude Onwugbuzie granted the order on Thursday, July 16, 2026, in a judgment on the EFCC’s application for the final forfeiture of the properties.
The assets were found by the EFCC to be proceeds of unlawful activities. The Commission’s investigation followed the receipt of financial intelligence indicating huge inflows and outflows through more than 136 bank accounts linked to Aisha Achimugu, involving billions of naira and millions of dollars.
The investigation revealed that the huge sums that passed through companies operated by her were not disclosed as revenue in the companies’ financial statements filed with the Federal Inland Revenue Service (FIRS).
In the course of the investigation, the Commission executed search warrants at Achimugu’s residence, where the forfeited assets were recovered. While being interrogated, she was given an Assets Declaration Form to complete. However, she failed to declare the recovered assets as part of her property.
The EFCC’s findings showed that the huge funds received into accounts linked to her were not derived from her legitimate business activities and that the recovered assets were not acquired from lawful sources.
Following the outcome of the investigation, the EFCC, through its legal team led by Ekele Iheanacho, SAN, filed an application for an interim forfeiture order in respect of the properties in favour of the Federal Government of Nigeria, in line with Section 17 of the Advance Fee Fraud and Other Related Offences Act.
The matter came before Justice Jude Onwuegbuzie and, on April 23, 2026, the court granted the application. It also directed the EFCC to publish the order in national newspapers, inviting any person in possession of, or interested in, the assets to show cause within 14 days why a final forfeiture order should not be granted.
The EFCC complied with the court’s order and published the notice. The Commission subsequently filed a motion seeking the final forfeiture of the properties.
Through her legal team, Achimugu filed affidavits to show cause why the assets should not be forfeited, as well as a motion to set aside the interim forfeiture order. The EFCC opposed the applications by filing a counter-affidavit. After hearing arguments from counsel representing both parties, the court adjourned the matter until July 16, 2026, for judgment.
Delivering the judgment on Thursday, the court granted a final order forfeiting the assets to the Federal Government of Nigeria.
The court found that Achimugu did not dislodge the evidence presented by the EFCC and also failed to discharge the burden of proving that the assets were lawfully acquired.
