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A Federal Capital Territory High Court in Apo, Abuja, on Thursday ordered the final forfeiture of assets worth about N8.9bn linked to a businesswoman, Aisha Achimugu, to the Federal Government.
Justice Jude Onwuegbu,zie made the order while delivering judgment on an application filed by the Economic and Financial Crimes Commission.
The forfeited assets comprise jewellery valued at N4.65bn, 11 exotic vehicles worth N4.29bn, $50,000 and N30m in cash.
In the judgment, Justice Onwuegbuzie held that Achimugu failed to dislodge the evidence presented by the EFCC and did not discharge the burden of proving that the assets were acquired from lawful sources.
The court consequently granted the commission’s application and ordered the final forfeiture of the jewellery, vehicles and cash to the Federal Government.
The judgment followed proceedings that began after the EFCC secured an interim forfeiture order from the court on April 23, 2026 under Section 17 of the Advance Fee Fraud and Other Related Offences Act.
The commission, through its lead counsel, Ekele Iheanacho (SAN), had urged the court to order the interim forfeiture of the assets and directed that the order be published in national newspapers to allow any interested person to show cause within 14 days why the properties should not be permanently forfeited.
Following the publication, the EFCC filed its application for final forfeiture.
Achimugu, through her legal team, filed affidavits to show cause why the assets should not be forfeited and also sought an order setting aside the interim forfeiture.
The EFCC opposed the applications with a counter-affidavit. After hearing arguments from both sides, the court reserved judgment until Thursday.
According to the EFCC, investigations into Achimugu commenced after it received financial intelligence indicating huge inflows and outflows running into billions of naira and millions of dollars through more than 136 bank accounts linked to her.
The anti-graft agency alleged that the investigation revealed that funds passing through companies operated by Achimugu were not declared as revenue in the financial statements the companies filed with the Federal Inland Revenue Service.
The commission further stated that searches conducted at Achimugu’s residence led to the recovery of the jewellery, exotic vehicles and cash eventually forfeited by the court.
It added that although Achimugu completed an assets declaration form during interrogation, she allegedly failed to declare the recovered assets as belonging to her.
The EFCC maintained that its investigation showed that the funds traced to accounts linked to the businesswoman were not derived from legitimate business activities and that the recovered assets were proceeds of unlawful activities.
