Table of Contents
Key Points
- EFCC accuses Aisha Achimugu of laundering $150.3 million, bribing officials, and illegally securing oil licenses using bureau de change operators and shell companies.
- Court ruling clears EFCC to act after lifting an earlier injunction; assets linked to Achimugu placed under interim forfeiture by Federal High Court.
- Achimugu's team denies the arrest, calling reports a smear campaign; civil groups criticize EFCC’s timing and tone, calling the move politically charged.
Nigeria’s anti-graft agency, the Economic and Financial Crimes Commission (EFCC), has declared Aisha Achimugu, a businesswoman and philanthropist, wanted over alleged involvement in a $150.3 million fraud scheme. The EFCC accuses her of money laundering, criminal conspiracy, and the illicit acquisition of offshore oil assets.
According to investigators, Achimugu allegedly funneled $25.3 million through bureau de change operators to bribe regulatory officials and secure interests in petroleum prospecting licenses PPL 3007 and PPL 302-DO. Authorities claim the transactions were structured to obscure the illegal origin of the funds, hallmarks of a classic laundering operation.
Court clears path for EFCC action as investigations trace 136 bank accounts
The declaration follows a Feb. 2025 ruling by the Federal High Court in Abuja that lifted a previous injunction barring the EFCC from arresting or investigating her. The court also upheld an interim forfeiture of assets linked to Achimugu, ruling that law enforcement agencies have a constitutional right to investigate credible allegations of financial crime.
In a separate but related probe, Achimugu is being investigated in connection with another N200 billion ($125.3 million) fraud case involving suspected misappropriation of public funds.
As part of its probe, the EFCC says it has linked Achimugu and her affiliated companies to 136 bank accounts—allegedly used to facilitate suspicious financial flows.
Her last known address is 6C Rudolf Close, Maitama, Abuja. She is originally from Ofu Local Government Area in Kogi State. Authorities are urging the public to report any information regarding her whereabouts to EFCC offices nationwide.
Achimugu’s team denies arrest, cites smear campaign
Achimugu’s spokesperson, David Abakpa, has dismissed reports of her arrest as “fake news” and part of a coordinated smear campaign. He confirmed she is currently abroad on a business trip and is cooperating with authorities through her legal team.
Meanwhile, civil society groups, including the Public Accountability Watch (PAW), have criticized the EFCC’s announcement as “misleading and premature,” questioning its timing and tone. The EFCC denied any political agenda, asserting the investigation is evidence-based. “This probe is entirely apolitical,” the agency said, urging the public to focus on facts and support its anti-corruption efforts.
Achimugu’s legal troubles surfaced after her company, Oceangate Oil and Gas Engineering, signed a major offshore development deal with Global Petroleum Group (GPG) near Grenada late last year. Founded in 2005, Oceangate operates across the oil and gas value chain, from asset discovery and evaluation to infrastructure development. Its services include exploration, pipeline systems, procurement, construction, and installation.
