Court Orders Permanent Forfeiture of $13 Million Linked to Socialite and Lagos State Contractors
A significant legal development has seen the Federal High Court in Abuja order the permanent forfeiture of $13 million previously associated with businesswoman Aisha Achimugu’s firm. This ruling comes as the Economic and Financial Crimes Commission (EFCC) intensifies its scrutiny of the Lagos State Government’s potential involvement with these funds.
The EFCC’s investigation was reportedly triggered after investigators discovered that a substantial portion of the $13 million originated from contractors providing services to the Lagos State Government. While the court documents detail the origin of these funds, the full extent of how this money was sourced from Lagos State contractors, the specific identities of these contractors, and the potential involvement of Governor Babajide Sanwo-Olu and other government officials remain undisclosed to safeguard the ongoing investigation.
The court’s decision to permanently forfeit the $13 million to the Nigerian government was based on its determination of the funds’ fraudulent origins. Efforts to obtain comments from key Lagos State officials, including the Attorney General and Commissioner for Justice, Lawal Pedro, and the Commissioner for Information and Strategy, Gbenga Omotoso, regarding the tracing of these funds to state contractors and the EFCC’s investigation into the governor, were unsuccessful. Neither official responded to inquiries.
The precise method by which this alleged scheme was executed is still unclear. However, investigators find it perplexing that contractors reportedly paid large sums to Ms. Achimugu’s company without any discernible legitimate business relationship. It is also not yet established whether Governor Sanwo-Olu was aware of or directly participated in the alleged scheme, or if his administration is simply under scrutiny due to the payments occurring during his tenure.
Unraveling the Flow of Funds
The EFCC initiated forfeiture proceedings last year following an extensive investigation into Ms. Achimugu, her associated companies, and individuals believed to be acting on her behalf. The anti-graft agency detailed how the suspicious $13 million was accumulated from various sources, including undisclosed contractors of the Lagos State Government.
According to the EFCC’s filings, these funds were amassed between March and April 2025, intended as part-payment for the acquisition of oil blocks. Ms. Achimugu’s firm, Oceangate Engineering Limited, was identified as being at the center of these transactions. The company had successfully bid for two oil blocks in 2024: Deep Offshore PPL 302 and Shallow Water PPL 3007. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) subsequently informed the company of its winning bid status and the requirements for obtaining the licenses. The EFCC stated that the total payment required for these two oil blocks was $37.2 million to the federal government.
By the time the EFCC intervened in April 2025, Oceangate Engineering had already made a part-payment of $20 million. Investigator Usman Aliyu, in affidavits supporting the forfeiture proceedings, detailed that Oceangate Engineering transferred this $20 million to the federal government in several installments between March 20 and April 3, 2025.
The Payment Breakdown and Allegations
The EFCC provided a detailed breakdown of these payments:
- Providus Bank Limited transferred $7 million to the federal government on behalf of Oceangate Engineering Oil and Gas Limited on March 27 and 28, 2025.
- Oceangate Engineering, through its Zenith Bank account (number 5074678281), transferred a total of $13 million to the federal government in seven separate installments during the specified period. These installments were: $1.1 million, $1.1 million, $3.8 million, $1.2 million, $3.05 million, $2.1 million, and $500,000.
Mr. Aliyu asserted that Oceangate Engineering, a company incorporated in February 2005, utilized funds reasonably suspected to be proceeds of unlawful activities to acquire the oil blocks from the NUPRC.
Agents and Contractors Under Scrutiny
The EFCC’s investigation also pointed to the firm’s alleged conspiracy with unlicensed Bureau de Change (BDC) operators and bank officials to procure the $13 million. Court filings named some of these individuals.
- Suleiman Muhammed Chiroma was reportedly procured and aided by Oceangate Engineering Oil and Gas Limited to collect a total of $13,000,000.00 in cash, without going through financial institutions, in both Abuja and Lagos.
- While acting in concert with Oceangate Limited, Mr. Chiroma allegedly engaged Dantani Abubakar Hassan of Ashrab Energy and Oil Services Limited and Tirmizi Muhammed Usman of Tripple A & Tee Oil Nigeria Limited. These individuals were tasked with collecting $9 million in cash for the sole purpose of paying the signature bonuses for the two oil blocks allocated to Oceangate Oil and Gas Limited.
The affidavit further stated that the company engaged Mr. Chiroma, Tirmizi Usman, and Dantani Hassan to receive suspicious funds from various contractors working for the Lagos State Government. Dantani Abubakar, through his company Ashrab Energy and Oil Services Limited (with Zenith Bank account number 1229255048), allegedly received and retained illicit funds from multiple state government contractors.
Specifically, it was alleged that over N855 million, later converted to dollars, was sourced from these contractors.
- Ashrab Energy and Oil Services Limited, utilizing its Access Bank Plc account (number 1907084038), reportedly received and retained a total of N855,057,560.00 from contractors executing projects for the Lagos State Government. These funds are also suspected to be proceeds of unlawful activity.
The combined sum of over N2.4 billion (N2,455,651,560) received in both the Zenith and Access Bank accounts of Ashrab Energy was allegedly converted to US dollars and subsequently transferred to Oceangate’s Zenith Bank account. This money was intended for the signature bonuses of the oil blocks PPL 302 and PPL 3007, among other uses.
Mr. Aliyu concluded that the $13 million used by Oceangate for these payments did not originate from any lawful business activities of the company but rather represented funds reasonably suspected to be proceeds of unlawful activity. He emphasized that part of the funds used by Oceangate Engineering Oil and Gas Limited for the signature bonuses was derived from Lagos State Government transfers to contractors for projects meant to benefit the public. Crucially, the investigator noted the absence of any contractual or business relationship between Oceangate and the contractors who transferred these public funds into the company’s account.
Oceangate’s Defense and Court’s Ruling
Oceangate Engineering has denied any wrongdoing and has urged the court to dismiss the forfeiture proceedings. In an affidavit sworn by its director, Iliya Wakil, the company refuted allegations of conspiracy with unregistered BDC operators and bank officials to retain or transfer illicit funds. Oceangate maintained that Suleiman Chiroma was a licensed BDC agent lawfully engaged to help source the U.S. dollars required for the signature bonuses, as these fees were stipulated to be paid in dollars. The company official also claimed that Mr. Chiroma acted independently, without any control from Oceangate Limited. Furthermore, the director denied any knowledge of Dantani Hassan, Ashrab Energy and Oil Services Limited, Tirmizi Usman, or Tripple A & Tee Oil Nigeria Limited, stating that the company had never dealt with them.
However, Judge Emeka Nwite of the Federal High Court in Abuja was not persuaded by the explanations provided by Ms. Achimugu’s company. The judge ruled that the company had failed to convincingly demonstrate the legitimate earning of the funds in question.
Governor Sanwo-Olu and Achimugu’s Relationship Under Scrutiny
This investigation into the $13 million has also brought to light details about a previously reported close relationship between Governor Babajide Sanwo-Olu and Ms. Achimugu. Over a year before the EFCC’s probe became public, reports emerged of the governor’s attendance at Ms. Achimugu’s 50th birthday celebration in January 2024, held in Grenada. This event reportedly saw the governor travel via private aircraft and stay at a luxury resort.
During this time, many government officials were reportedly unaware of his whereabouts. A dedicated website for the week-long birthday festivities provided guests with details on travel, accommodation, and event logistics. In response to earlier reports, Governor Sanwo-Olu stated via his official X account that his trip to Grenada was to advance the state’s economic interests, without directly confirming or denying his attendance at the birthday party.
Early Signs of Governor’s Probe and Legal Maneuvers
The first indication that Governor Sanwo-Olu might be under EFCC investigation surfaced in October 2024. Reports emerged of a lawsuit filed by the governor, purportedly seeking to prevent EFCC investigations. The suit reportedly sought a declaration that any threat of arrest and detention against him was unconstitutional and a violation of his fundamental rights, and aimed to restrain the EFCC from harassing, arresting, or detaining him concerning his governance.
An affidavit filed in support of this suit, by Martha Kanu, claimed she was briefed on the suit’s details by the governor via teleconference and believed the information to be true. She reportedly stated that the governor had informed her of plans by EFCC officials to arrest his aides and family members over alleged fund diversion.
Interestingly, the controversial suit was reportedly filed by Darlington Ozurumba, the same lawyer who represented Ms. Achimugu’s Oceangate Engineering in the $13 million forfeiture proceedings.
Following widespread media coverage of the purported suit, the Lagos State Government issued a statement denying that Governor Sanwo-Olu had authorized its filing. The statement, issued by Attorney General and Commissioner for Justice Lawal Pedro, questioned the existence of any such legal action and deemed it disingenuous for the governor, who enjoys constitutional immunity, to engage legal counsel on such matters. Mr. Pedro also denied any EFCC investigation into the governor or his staff, asserting that the governor had always acted judiciously in managing state resources. Despite the statement, the origin of the reports about the suit remained under investigation, and media organizations were cautioned against circulating misleading information.
On October 31, 2024, the EFCC filed its response to the suit, categorically denying any investigation or harassment of the governor, his family, or staff. It is important to note that these events predated the oil block transactions that are now central to the forfeiture case.
Aisha Achimugu: A History of Controversy
Ms. Achimugu’s lifestyle has garnered significant public attention and controversy over the past two years, with her January 2024 birthday celebration in Grenada and the current $13 million forfeiture case being prominent examples.
In March 2025, the EFCC declared her wanted in connection with alleged involvement in money laundering and a Ponzi scheme, linking her to the controversial MBA Trading and Capital Limited. This declaration prompted Ms. Achimugu to file a suit seeking to restrain the EFCC and other agencies from arresting or detaining her, arguing that her fundamental rights were under threat.
On April 28, 2025, a judge ordered her to submit herself to the EFCC for questioning. The following day, she was arrested at the Nnamdi Azikiwe International Airport in Abuja upon her arrival from London. While she has since been released from custody, investigations into her activities are ongoing. Although no charges have been formally filed against her, her name has been associated with suspicious funds in ongoing criminal proceedings.
