Justice Emeka Nwite of the Federal High Court, Abuja, has ordered the final forfeiture of $13 million linked to businesswoman Aisha Achimugu and her company, Oceangate Engineering Oil & Gas Ltd, to the Federal Government.
The Economic and Financial Crimes Commission (EFCC) traced the funds, which were suspected to be proceeds of fraud and other unlawful activities.
Delivering judgment on Wednesday, March 25, 2026, Justice Nwite held that Oceangate failed to prove legitimate ownership of the money. The court dismissed claims that the $13 million were “gifts,” noting that Achimugu did not appear in court and no donors testified.
The company also could not provide evidence of any business transactions or customer payments generating the funds.
The court had previously granted an interim forfeiture order on August 22, 2025, directing the EFCC to publish a notice for anyone claiming interest to show cause. With no credible defence presented, the judge ordered the permanent forfeiture of the funds to the Federal Government.