Court orders forfeiture of ₦8.9bn worth of jewellery, cars, cash linked to Aisha Achimugu

By Imisioluwa Afunmiso

A Federal Capital Territory (FCT) High Court sitting in Apo, Abuja, has ordered the final forfeiture of assets valued at over ₦8.9 billion linked to businesswoman Ms. Aisha Achimugu to the Federal Government.

Justice Jude Onwuegbuzie granted the order on Thursday, July 16, 2026, following an application for final forfeiture filed by the Economic and Financial Crimes Commission (EFCC).

The permanently forfeited assets include jewellery valued at ₦4,645,170,294.09, eleven exotic vehicles worth ₦4,293,000,000, as well as cash sums of $50,000 and ₦30,000,000.

The judgment effectively transfers total ownership of these luxury items and monetary funds to the Federal Government.

According to the EFCC, the assets were uncovered as proceeds of unlawful activities.

The anti-graft agency initiated its probe after receiving financial intelligence that revealed massive, unexplained inflows and outflows running into billions of naira and millions of dollars across more than 136 bank accounts linked to Achimugu.

Subsequent investigations revealed that the enormous funds passing through her companies were never disclosed as revenue in the financial statements filed with the National Revenue Service (NRS).

During the investigation, EFCC operatives executed search warrants at Achimugu’s residence, where the luxury cars and multi-billion naira jewellery were recovered.

While under interrogation, she was provided with an Assets Declaration Form, which she filled out but failed to disclose any of the recovered assets as her property.

The commission concluded that the funds moving through her accounts did not stem from legitimate business operations and that the seized assets lacked lawful origins.

The legal battle escalated after the EFCC team, led by Ekele Iheanacho SAN, secured an interim forfeiture order from Justice Onwuegbuzie on April 23, 2026, in line with Section 17 of the Advance Fee Fraud and Other Related Offences Act.

As directed by the court, the EFCC published the interim order in national dailies, giving any interested parties 14 days to show cause why a final forfeiture should not be granted.

Achimugu, through her legal team, subsequently filed affidavits to contest the forfeiture and submitted a motion to set aside the interim order.

The EFCC fiercely opposed her applications with a counter-affidavit. After hearing arguments from both sides, the court adjourned the matter for judgment.

In his final ruling on Thursday, Justice Onwuegbuzie held that Achimugu failed to dislodge the evidence presented by the EFCC and did not discharge the burden of proving that the multi-billion naira assets were acquired through lawful means.