A Federal Capital Territory (FCT) High Court sitting in Apo, Abuja, has ordered the final forfeiture of jewellery, luxury vehicles and cash linked to businesswoman Aisha Achimugu to the Federal Government.
Key Highlights:
- An FCT High Court ordered the final forfeiture of jewellery, luxury vehicles and cash linked to Aisha Achimugu to the Federal Government.
- The forfeited assets include jewellery worth N4.65 billion, 11 luxury vehicles valued at N4.29 billion, $50,000, and N30 million in cash.
- Justice Jude Onwugbuzie ruled that the EFCC met all legal requirements for a final forfeiture order after complying with due process.
- The court held that no sufficient evidence was presented to rebut the EFCC’s claim that the assets were reasonably suspected to be proceeds of unlawful activities.
- The forfeiture is part of the EFCC’s ongoing investigation into Achimugu over alleged money laundering, conspiracy and illicit asset acquisition.
The forfeited assets include jewellery valued at N4,645,170,294.90, 11 luxury vehicles worth N4.293 billion, $50,000 and N30 million in cash.
Justice Jude Onwugbuzie made the order on Thursday while delivering judgment in an application filed by the Economic and Financial Crimes Commission (EFCC), which sought the permanent forfeiture of the assets.
The judge held that the EFCC had fulfilled all legal requirements for the grant of a final forfeiture order, having earlier secured an interim forfeiture order and complied with the court’s directive to publish the order, inviting anyone with an interest in the assets to appear before the court and show cause why they should not be permanently forfeited to the Federal Government.
Justice Onwugbuzie ruled that no sufficient evidence was presented to challenge the EFCC’s position that the assets were reasonably suspected to be proceeds of unlawful activities. Consequently, the court granted the commission’s application and ordered that the properties be permanently forfeited to the Federal Government.
The forfeiture proceedings form part of the EFCC’s ongoing investigation into Achimugu over allegations of money laundering, conspiracy and the acquisition of assets suspected to be proceeds of unlawful activities.
The anti-graft agency had earlier approached the court through an ex parte application seeking an interim forfeiture of the jewellery, luxury vehicles and cash recovered during the course of its investigation.
In its application, the EFCC argued that intelligence gathered and evidence obtained during the investigation established reasonable grounds to believe that the assets were acquired with funds suspected to be linked to illicit financial transactions.
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Following the application, Justice Onwugbuzie granted the interim forfeiture order and directed the EFCC to publish the order in a national newspaper to allow any interested person the statutory opportunity to contest the forfeiture by proving legitimate ownership and establishing that the assets were not proceeds of crime.
After the notice period expired, the EFCC returned to court with a motion for final forfeiture, maintaining that no credible evidence had been presented to rebut its claims or demonstrate the lawful source of the assets.
Achimugu has remained under EFCC investigation over alleged financial crimes involving billions of naira. Earlier this year, the commission declared her wanted after she allegedly failed to honour an invitation for questioning. She subsequently returned to Nigeria and appeared before investigators following legal proceedings relating to her arrest.
Her legal team has consistently denied the allegations, maintaining that her businesses and assets were legitimately acquired while challenging aspects of the EFCC’s investigation in court.
Thursday’s judgment marks a significant milestone in the civil forfeiture proceedings, with ownership of the jewellery, vehicles and cash now transferred to the Federal Government. However, the substantive criminal investigation into the allegations against Achimugu remains separate from the forfeiture proceedings and may continue.
