High Court Grants Final Forfeiture Of $13m Linked To Achimugu’s Firm To Government

High court. Justice Emeka Nwite of the Federal High Court in Abuja, on Wednesday, March 25, 2026 granted an order of final forfeiture of the sum of $13 million linked to a business woman, Ms Aisha Achimugu and her Oceangate Engineering Oil & Gas Ltd, to the federal government.

The Economic and Financial Crimes Commission, EFCC, dragged Oceangate Engineering Oil & Gas Ltd before the court regarding the ownership of $13m suspected to be proceeds of fraud and unlawful activities.

Delivering judgment in a suit instituted by Oceangate Engineering Oil & Gas Ltd to claim the funds, Justice Nwite held that the company failed woefully to establish how it came about the money. He, however, stressed that the EFCC succeeded in convincing the court that the funds are proceeds of fraud and should be forfeited to the government.

The judge dismissed the claims that the
$13 million was gifts received into the Oceangate Engineering Company by Aisha Achimugu adding that the said Aisha never showed up in court to show cause why the funds should not be forfeited to the federal government.

Additionally, Justice Nwite said that no single person who gave the monetary gifts to Achimugu to the tune of $13 million was called to testify.

The judge held that the burden to establish genuine ownership of the money was not established by the applicant to counter the claims of the EFCC that the money was a proceeds of fraud based on its investigation.

According to the judge, Oceangate Engineering Company did not show the business it undertook that fetched it the money and did not also show whether any payment was made to it by of its customer.

Justice Nwite had on 22 August 2025, granted the EFCC an interim order forfeiting the $13 million linked to Oceangate to the government. He also directed the Commission to publish the order in a national daily for interested person(s) to show cause within 14 days why the funds should not be permanently forfeited to the government.

Justifying the forfeiture moves, EFCC investigator, Usman Aliyu, swore to an affidavit stating that the Commission acted on intelligence that showed that Oceangate Engineering Limited, without following due process, used funds reasonably suspected to be proceeds of unlawful activity to acquire oil blocks from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

Aliyu insisted that the $13 million used by Oceangate to pay for the Signature Bonuses in respect of PPL302 and PPL3007 were not proceeds of any lawful and legitimate business but rather represent funds reasonably suspected to be proceeds of unlawful activity.

According to him, part of the funds used by Oceangate Engineering Oil and Gas Limited to pay for the Signature bonuses in respect of PPL 302 & PPL 3007 was derived from the huge sum of money transferred by a state government to the contractors for the execution of contracts for the benefit of the state.

The investigator alleged that there were never any contractual or business relationships between Oceangate and the contractors who transferred the aforementioned public funds to the account of the company (Oceangate Engineering).

He said the contractors, who transferred the aforementioned public funds to Oceangate, were neither investors, directors, nor shareholders in Oceangate.

But Oceangate, in its affidavit prayed the court not to make the order of final forfeiture of the funds because all the funds were derived partly from legitimate earnings of the company and partly gifts given to the Group Chief Executive Officer (GCEO) of the Company, Aisha Achimugu.

But EFCC, in its reply to the affidavit by Oceangate, prayed the court to dismiss the application.

Aliyu, who also swore the affidavit on behalf of the commission, said the Commission found that Iliya Wakil, who swore to Oceangate’s affidavit , was a mere nominal director with no shareholding status of the company.

Besides, the investigator said Wakil was an employee of Felak Concept Group Limited, also owned by Achimugu, and incorporated on May 5, 2000.

He said Wakil admitted, in his extrajudicial statement to his team on 15 April 2025 that he had worked with Felak Concept from 2000 to date.

He said Wakil also admitted that he held so many positions, “among which are Manager Admin, General Manager Admin and Finance and presently Group General Manager Admin and Finance.’

He said Wakil also stated that he had consistently drawn his monthly salary from his known employer Felak Concept and WishWhich Koncept Limited.

Federal High Court

He argued that there was no record of Wakil drawing a salary from Oceangate.

Besides, the officer said Wakil admitted in his extra-judicial statement that he got all his instructions from Ms Achimugu, the GCEO, and he, in turn, gave the same instructions to Mr Chiroma via telephone conversation.

Aliyu described Oceangate as “a briefcase/shell company created as a vehicle for the purpose of holding petroleum related assets procured with funds reasonably suspected to be proceeds of unlawful activity.”

“Hence, describing the company as ‘a professional oil and gas consortium, operating in diverse sectors of the oil and gas sectors of the Nigerian economy,’ is nothing but describing the devil as an angel of light,” Mr Aliyu wrote.

He alleged that the modus operandi of Oceangate is to acquire “petroleum-related assets with tainted funds.”

IGP Disu Declares Open Strategic Leadership Retreat For DIGs, AIGs To Drive Police Reform

Police Reform. The Inspector-General of Police, IGP Olatunji Rilwan Disu, psc (+), NPM, today officially declares open an Executive Leadership Retreat for the top echelon of the Nigeria Police Force (NPF). This gathering of Deputy Inspectors-General (DIGs) and Assistant Inspectors-General (AIGs) marks a significant milestone in the ongoing institutional transformation of the Force. The Police Reform Secretariat, in partnership with the United Nations Development Program (UNDP), is hosting a two-day retreat at the Transcorp Hilton Hotel in Abuja.

During the session, Professor Olu Ogunsakin, Head of the Police Reform Secretariat and Director General of the National Institute for Policy Studies (NIPS), highlighted the significant strides made through the Supporting Police Accountability and Transformation (SPAT) program, funded by the UNDP and the German Federal Foreign Office (GFFO).

Professor Ogunsakin unveiled several transformative achievements currently awaiting implementation, including a fully revised national recruit curriculum—the first since 1968—and a modern, rights-based framework set out in the newly gazetted Nigeria Police Regulations 2025.

In his remarks, IGP Disu emphasized that the retreat is a cornerstone of his policy, focused on sustainable and positive reform. He reminded the senior officers that leadership at their level must be defined by vision, accountability, and the ability to inspire public confidence.

The IGP also emphasized that genuine success in this engagement would be reflected by visible progress in operational efficiency, discipline, and adherence to human rights throughout all police commands across the nation.

IGP Disu

The retreat will feature technical sessions on evidence-based budgeting, community policing strategies, and digital transformation. These discussions underscore the NPF’s commitment to becoming a people-oriented institution that prioritizes the rule of law and transparent operational protocols.

As the retreat continues through March 25th, the leadership of the Nigeria Police Force reaffirms its appreciation to the UNDP and international partners for their support in strengthening Nigeria’s policing ecosystem.

DCP ANTHONY OKON PLACID, psc (+), mni
Force Public Relations Officer,
Force Headquarters, Abuja.
24th March 2026.

Enugu EFCC, CBN Strengthen Collaboration

Enugu EFCC, CBN strengthen collaboration. The Economic and Financial Crimes Commission, EFCC, has called for enhanced collaboration and operational support with the Central Bank of Nigeria, CBN in Enugu State.

The call, made on Tuesday, March 17, 2026 by the Zonal Director, Enugu Zonal Directorate of the EFCC, Commander of the EFCC, CE Daniel Isei came on the heels of a courtesy visit to the Branch Controller, CBN, Enugu State, Otutubuike Justice Agbaeze, in his office.

The visit was part of ongoing stakeholder engagements aimed at deepening inter-agency collaboration, promoting accountability in the financial sector and strengthening anti-money laundering measures in the country.

Describing the CBN as “our most critical partner in the fight against economic and financial crimes”, Isei noted that both agencies have consistently worked closely on several fronts and joint initiatives over the years and expressed appreciation to the apex bank for its continued support, especially in safeguarding recovered assets.

“The CBN naturally stands out as one of our most critical partners in the fight against economic and financial crimes and it serves as a secure repository for valuables recovered by the EFCC and it has greatly enhanced our operations”, he said.

While acknowledging the bank’s past cooperation, Isei appealed for more timely responses to the Directorate’s official correspondences, adding that the Commission’s office in Enugu regularly sends numerous requests as part of its investigation processes and emphasized that prompt feedback is essential for timely resolution.

CBN

“We understand that these requests may be demanding, but timely responses are crucial, as time is of the essence in financial investigations. We therefore seek for your continued indulgence in ensuring that our letters receive expeditious attention”, he said.

Responding, Agbaeze reaffirmed the bank’s commitment to sustaining its collaboration with the Commission including providing expert assistance when required.

He assured Isei of enhanced synergy “in the interest of financial system stability and national development”.