A Federal High Court has ordered the final forfeiture of $13 million traced to Oceangate Engineering Oil & Gas Ltd, a company linked to businesswoman Aisha Achimugu.
Delivering judgment on Wednesday, Justice Emeka Nwite granted the application filed by the Economic and Financial Crimes Commission, directing that the funds be permanently forfeited to the Federal Government.
The court held that neither Oceangate Engineering nor Achimugu was able to establish that the money was lawfully acquired. According to the judge, claims by the company’s counsel, Darlington Ozurumba, that the funds were derived from gifts and proceeds of oil and gas contracts were not supported by credible evidence.
Justice Nwite also dismissed arguments challenging the court’s jurisdiction, particularly the claim that the interim forfeiture order granted on August 22, 2025, was invalid because it was issued during a vacation sitting.
He upheld the submissions of EFCC counsel, Rotimi Oyedepo (SAN), noting that due process was followed in line with relevant legal provisions, including Order 46(5) of the Federal High Court Rules and Section 17 of the Advance Fee Fraud Act, 2006.
The judge further described as baseless the defence’s argument that the EFCC lacked the authority to act in the absence of a formal complaint from any individual or corporate body.
The ruling reinforces the court’s stance on financial accountability and the burden on individuals and firms to justify the legitimacy of large funds under investigation.
Details shortly…
