…as EFCC secures jewelries, 11 exotic cars, $50,000, others in landmark judgment
By Sanni Abdullahi
ABUJA — A Federal Capital Territory High Court sitting in Apo, Abuja has ordered the final forfeiture of assets worth over N8.9 billion allegedly linked to businesswoman Ms. Aisha Achimugu to the Federal Government.
Justice Jude Onwugbuzie delivered the judgment on Thursday, July 16, 2026, granting the Economic and Financial Crimes Commission’s application for final forfeiture of the properties.
The forfeited assets include jewelries valued at N4,645,170,294.90, eleven exotic cars worth N4,293,000,000, $50,000 in foreign currency, and N30,000,000 in cash.
In his ruling, Justice Onwugbuzie held that the EFCC had satisfied the legal requirements under the Advance Fee Fraud and Other Related Offences Act and the EFCC Establishment Act to warrant a final forfeiture order. The court found that the Commission provided sufficient evidence tracing the assets to activities under investigation.
“The application of the Economic and Financial Crimes Commission for final forfeiture of the listed properties to the Federal Government of Nigeria is hereby granted,” the judge ruled.
With the final forfeiture order, ownership of the assets now legally vests in the Federal Government. The EFCC is expected to commence the process of disposal in line with the Proceeds of Crime (Recovery and Management) Act, 2022, which mandates that forfeited assets be sold through public auction and proceeds paid into the government’s asset recovery account.
Breakdown of Forfeited Assets
According to court documents presented by the EFCC, the forfeited jewelries alone were valued at N4,645,170,294.90. The eleven exotic vehicles, described by the Commission as luxury brands, were valued at N4,293,000,000.
In addition, the court ordered the forfeiture of $50,000 and N30,000,000 cash that were also linked to Ms. Achimugu.
The total value of the assets comes to N8,968,170,294.90 plus $50,000, marking one of the larger non-conviction based forfeitures secured by the EFCC this year.
EFCC’s Case
The EFCC had approached the court with an ex-parte and later a motion on notice seeking an interim and then final forfeiture of the assets. The Commission argued that the properties were reasonably suspected to be proceeds of unlawful activity.
Non-conviction based forfeiture allows law enforcement agencies to seize assets suspected to be proceeds of crime even where there has not yet been a criminal conviction, provided the court is satisfied with the evidence presented.
Counsel for the EFCC told the court that the Commission carried out extensive investigations and traced the assets to Ms. Achimugu.
With Justice Onwugbuzie’s final order, the assets will now be inventoried by the EFCC and handed over to the relevant government agency for disposal. Under the POCA Act, proceeds from the sale of forfeited assets are to be remitted to the Confiscated and Forfeited Properties Account domiciled with the Central Bank of Nigeria.
Legal analysts say the judgment reinforces the government’s renewed focus on asset recovery as a tool in the fight against financial crimes.
“This ruling sends a clear message that assets suspected to be proceeds of crime will not be allowed to remain in private hands while investigations continue,” a senior lawyer familiar with anti-corruption cases said.
The EFCC did not immediately provide further details on the specific investigation linked to Ms. Achimugu. Officials said more information will be made available after administrative processes on the assets are concluded.
Ms. Achimugu is a prominent businesswoman with interests in oil, marine and real estate sectors. As of press time, her legal representatives had not issued a public statement on the court’s decision.
The July 16 judgment adds to a growing list of high-profile forfeitures by the EFCC in 2026 as the Commission intensifies efforts to recover assets believed to be linked to economic and financial crimes across the country.
More details shortly.
