In a major escalation of an ongoing anti-corruption dispute, prominent Nigerian businesswoman and founder of Oceangate Engineering Oil & Gas Ltd, Aisha Achimugu, has launched a scathing attack against the Economic and Financial Crimes Commission (EFCC), alleging a calculated campaign of harassment, media trial, and unlawful persecution.
​Speaking via a formal public declaration in Abuja on Wednesday, July 22, 2026, Achimugu claimed that the agency’s persistent operational overreach has severely crippled her domestic and international commercial interests, subjected her family to grave physical risk, and deliberately maligned her personal reputation.
Achimugu asserted that she is not a criminal and has never been convicted of any offense. She maintained that despite making herself available to investigators, the EFCC has subjected her to over two years of aggressive account freezes, character assassination, and arbitrary seizures affecting more than $100 million in legitimate oil, gas, and investment ventures.
The controversy follows a March 25, 2026 decision by Justice Emeka Nwite of the Federal High Court in Abuja, which granted the EFCC a final forfeiture order for $13 million linked to Oceangate Engineering Oil & Gas Ltd. While the EFCC argued the funds represented proceeds of unlawful transactions routed through unrecorded Bureau De Change (BDC) channels and third-party contractors, Achimugu insisted the money constituted a partial payment for the legitimate acquisition of petroleum prospecting licenses (PPL 302 and PPL 3007) and confirmed an appeal has been lodged.
The legal standoff further intensified on July 16, 2026, when Justice Jude Onwugbuzie of the FCT High Court in Apo ordered the final forfeiture of additional high-value assets recovered from Achimugu’s Abuja residence. These included N4.6 billion in luxury jewelry, 11 exotic vehicles valued at N4.29 billion, $50,000, and N30 million in cash.
According to court filings from the EFCC, the multi-year investigation originated from intelligence tracking unusual cash flows across more than 136 bank accounts linked to Achimugu, her corporate entities, and previous financial links to historical investment schemes.
Reiterating her faith in the judiciary, Achimugu called on human rights organizations and federal regulatory authorities to ensure adherence to due process, emphasizing that her legal team will continue pursuing appellate remedies to set aside the forfeiture orders and recover her assets.
