A Federal Capital Territory High Court in Apo, Abuja, has ordered the final forfeiture of multi-billion-naira assets linked to businesswoman Aisha Achimugu to the Federal Government.
The ruling, delivered on Thursday by Justice Jude Onwuegbuzie, followed an application by the Economic and Financial Crimes Commission (EFCC), which argued that the assets were proceeds of unlawful activities.
The forfeited assets include jewellery valued at N4.645 billion, 11 luxury vehicles worth N4.293 billion, $50,000 in cash and N30 million.
According to the EFCC, investigations into Achimugu’s finances began after the commission received intelligence indicating massive financial transactions across more than 136 bank accounts allegedly linked to her.
The anti-graft agency said the probe uncovered billions of naira and millions of dollars moving through the accounts, while revenues generated by companies associated with Achimugu were allegedly not fully declared in financial statements submitted to the Federal Inland Revenue Service (FIRS).
The commission also told the court that several of the assets were recovered during searches conducted at Achimugu’s residence.
The EFCC further alleged that although she was given an assets declaration form during questioning, she failed to disclose the recovered properties.
According to the commission, its investigation found that the funds traced to the accounts were not derived from legitimate business activities and that the recovered assets could not be linked to lawful sources.
Based on its findings, the EFCC approached the court under Section 17 of the Advance Fee Fraud and Other Related Offences Act, seeking an interim forfeiture order.
On April 23, 2026, Justice Onwuegbuzie granted the interim application and directed the commission to publish the order in national newspapers, giving any interested party 14 days to show cause why the assets should not be permanently forfeited.
The EFCC said it complied with the court’s directive by publishing the notice before filing an application for final forfeiture.
Achimugu, through her legal team, opposed the application by filing affidavits challenging the forfeiture and also asked the court to set aside the interim order. The EFCC, however, opposed the application with a counter-affidavit.
After hearing arguments from both parties, the court reserved judgment until July 16.
Delivering judgment on Thursday, Justice Onwuegbuzie ruled in favour of the EFCC and granted a final order forfeiting the assets to the Federal Government.
According to the court, Achimugu “did not dislodge the evidence led by the EFCC” and also failed to prove that the assets were acquired through legitimate means.
The ruling means ownership of the jewellery, luxury vehicles and the recovered cash now formally vests in the Federal Government.