A Federal Capital Territory (FCT) High Court in Abuja has ordered the final forfeiture of assets linked to businesswoman, Aisha Achimugu, to the Federal Government.
Justice Jude Onwugbuzie delivered the ruling on Thursday following an application by the Economic and Financial Crimes Commission (EFCC), which argued that the assets were proceeds of unlawful activities.
The forfeited assets include jewellery valued at over ₦4.645 billion, 11 exotic vehicles worth ₦4.293 billion, $50,000 in cash and ₦30 million.
According to a statement by the EFCC, investigations commenced after the commission received financial intelligence indicating massive inflows and outflows through more than 136 bank accounts linked to Achimugu, involving billions of naira and millions of dollars.
The anti-graft agency said its investigation revealed that funds passing through companies associated with the businesswoman were allegedly not declared as revenue in financial statements submitted to the Federal Inland Revenue Service (FIRS).
The EFCC stated that the assets were recovered during search operations carried out at Achimugu’s residence.
The commission further alleged that while being interrogated, Achimugu completed an Asset Declaration Form but failed to disclose ownership of the recovered assets.
According to the agency, its investigation showed that the funds traced to the accounts linked to her did not originate from legitimate business activities and that the recovered assets could not be traced to lawful sources.
Following the investigation, the EFCC, through its legal team led by Senior Advocate of Nigeria (SAN), Ekele Iheanacho, filed an application seeking an interim forfeiture order under Section 17 of the Advance Fee Fraud and Other Related Offences Act.
Delivering judgment, Justice Onwugbuzie granted the commission’s application for final forfeiture, holding that Achimugu failed to rebut the evidence presented by the EFCC or establish that the assets were legitimately acquired.
The ruling effectively transfers ownership of the jewellery, vehicles and cash to the Federal Government.