The Economic and Financial Crimes Commission (EFCC) has released photographs of jewellery worth N4.6 billion and 11 luxury vehicles valued at N4.3 billion following a court order permanently forfeiting the assets linked to businesswoman Aisha Achimugu to the Federal Government.
The development follows a ruling by a Federal Capital Territory High Court in Apo, Abuja, which ordered the final forfeiture of the assets, including $50,000 and N30 million in cash.
Justice Jude Onwuegbuzie held that the properties were proceeds of unlawful activities after ruling that Achimugu failed to establish that they were acquired through legitimate sources.
According to the EFCC, the forfeited assets comprise jewellery worth N4,645,170,294.90, 11 luxury vehicles valued at N4,293,000,000, $50,000, and N30 million in cash.
The commission stated that its investigation was triggered by financial intelligence reports revealing massive transactions involving billions of naira and millions of dollars across more than 136 bank accounts linked to Achimugu.
Investigators also alleged that funds flowing through companies associated with the businesswoman were not declared as revenue in financial records submitted to the Federal Inland Revenue Service (FIRS).
The EFCC further said searches conducted at her residence led to the recovery of the jewellery, luxury vehicles and cash. It also claimed that although Achimugu completed an assets declaration form during interrogation, she failed to disclose the recovered properties.
The anti-graft agency maintained that the evidence presented in court showed the recovered assets were not derived from lawful business activities.
The case began when the EFCC obtained an interim forfeiture order on April 23, 2026, and subsequently invited interested parties to challenge the application. Although Achimugu contested the order through her legal team, the court ultimately ruled in favour of the commission and directed that all the assets be permanently forfeited to the Federal Government.
Achimugu first drew public attention in January 2024 after hosting an elaborate 50th birthday celebration in Grenada attended by several prominent personalities. She was later declared wanted by the EFCC in March 2025 over alleged money laundering and financial crime offences before being arrested at the Nnamdi Azikiwe International Airport in Abuja upon her return from London. She was later granted administrative bail.
