Court Orders Oil Mogul Aisha Achimugu To Face EFCC Over N8.71 Billion Scandal

In a dramatic twist to a widening financial scandal, Justice I.E. Ekwo of the Federal High Court, Abuja, on Monday ordered oil executive Aisha Achimugu to appear before the Economic and Financial Crimes Commission (EFCC) on Tuesday, April 29, 2025, to answer to allegations of massive financial misconduct.

The court also directed Achimugu to appear before it on Wednesday, April 30, 2025, as part of ongoing proceedings tied to a case she filed against several law enforcement agencies, including the Nigeria Police Force, the Independent Corrupt Practices and Other Related Offences Commission (ICPC), the Department of State Services (DSS), and the Nigeria Immigration Service (NIS).

The EFCC, represented by Senior Advocate of Nigeria, Ekele Iheanacho, opposed Achimugu’s suit with a damning counter-affidavit. According to EFCC investigator Chris Odofin, Achimugu is being investigated for conspiracy, fraud, money laundering, corruption, and possession of assets suspected to be proceeds of crime.

Documents filed in court revealed that Achimugu, through her company Oceangate Engineering Oil and Gas Limited, allegedly oversaw the movement of N8.71 billion, claimed as “investment funds” for oil block acquisitions. Despite her explanation, EFCC investigations uncovered that her firm secured two oil blocks — Shallow Water PPL 3007 and Deep Offshore PPL 302-DO — for $25.3 million, allegedly using cash payments funneled through bureau de change operators, with no verifiable source of legitimate income.

While Achimugu initially honored an EFCC invitation in February 2024 and was released on administrative bail, she later ceased cooperation and instead filed a fundamental rights suit — a move the EFCC described as a ploy to derail the investigation.

Further investigations revealed the staggering scale of her financial dealings: Achimugu reportedly operates 136 bank accounts spread across ten banks in both her personal and corporate capacities.

The EFCC emphasized that despite the acquisition of the oil blocks, no exploration or production had commenced, raising red flags about the legitimacy of the transactions.

The case continues on Wednesday, April 30, 2025, with Achimugu expected to face the EFCC in what could become one of the most high-profile anti-corruption battles of the year.