A Federal High Court in Abuja has ordered the final forfeiture of $13 million claimed by Oceangate Engineering Oil & Gas Ltd, a company linked to prominent businesswoman Aisha Achimugu.
In a landmark ruling delivered on Wednesday, March 25, 2026, Justice Emeka Nwite granted the application filed by the Economic and Financial Crimes Commission (EFCC) to permanently forfeit the funds to the Federal Government.
The court held that neither the firm nor Achimugu provided credible evidence to prove that the massive sum was legitimately earned.
Justice Nwite dismissed the defense's argument that the money originated from "gifts" and various oil and gas contracts, labeling the claims as unsubstantiated.
“The contention that the money came from gifts and earnings from contracts could not be substantiated by credible evidence,” Justice Nwite ruled, upholding the arguments presented by EFCC lead counsel, Rotimi Oyedepo (SAN).
The defense had previously attempted to challenge the court's jurisdiction regarding an interim forfeiture order granted in August 2025, but the judge struck down the objection as baseless.
The ruling marks a significant win for the EFCC in its ongoing crackdown on unexplained wealth and financial impropriety within the private sector.
#AishaAchimugu #EFCC #Forfeiture #CorruptionWatch #NigeriaNews #OceangateEngineering #JusticeNwite
Post a Comment