Aisha Achimugu Speaks Out After EFCC Declares Her Wanted: "My Money Not From Sanwo-Olu"
- Aisha Achimugu, businesswoman and Oceangate Engineering Oil & Gas Ltd founder, denied allegations linking her wealth to Lagos Governor Babajide Sanwo-Olu
- Federal High Court judge Emeka Nwite ordered final forfeiture of $13m as EFCC declared Achimugu wanted over alleged money laundering
- Achimugu said only $50,000 and N13m belonging to her mother were found during a raid and insisted the $13m was not recovered from her residence
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A Nigerian businesswoman, Aisha Achimugu, has dismissed allegations linking her wealth to Lagos State Governor, Babajide Sanwo-Olu, insisting her success predates any association with political figures.
Speaking during an interview on Channels Television on Monday, Achimugu, founder of Oceangate Engineering Oil & Gas Ltd, maintained that her financial standing was built over years of business activity.
Source: Facebook
EFCC probe and forfeiture order
Achimugu’s comments come amid ongoing scrutiny by the Economic and Financial Crimes Commission (EFCC), which declared her wanted over alleged money laundering, The Cable reported.
The controversy follows a March 2026 ruling by a Federal High Court in Abuja ordering the final forfeiture of $13 million reportedly linked to Achimugu and her company.
Presiding judge, Emeka Nwite, held that the anti-graft agency had established that the funds were proceeds of unlawful activities. However, her firm has since initiated steps to challenge the ruling.
Achimugu: $13m not found in my house
Responding to claims surrounding the forfeited funds, Achimugu said the money in question was not recovered from her residence and declined to provide further details due to ongoing legal proceedings.
“My house was raided. Only $50,000 and N13 million belonging to my mom was found in my house and my personal belongings,” she said.
“I don’t know where Nigeria got the impression that I have $13 million in my house. I’m not a bank. I won’t keep $13 million in my house.”
Oil block acquisition and business history
Addressing questions about her wealth and business interests, Achimugu stated that her company secured an oil block through a legitimate process, Vanguard reported.
According to her, the asset belongs to Oceangate Engineering Oil & Gas Ltd and was obtained after a “competitive and transparent” bidding exercise.
She added that her entrepreneurial journey began in 2001, long before her recent public visibility.
Achimugu: My money not from Sanwo-Olu
Achimugu also rejected insinuations that her relationship with Governor Sanwo-Olu influenced her financial success, despite his attendance at her widely publicised 50th birthday celebration in Grenada.
“I have always had access to power and governance. I’m a known Nigerian. I have friends, and I have done well. I have not done anything that will make anyone stay away from me,” she said.
“If they are on a shore where I’m doing something, they pump in and celebrate with me. It is not a rare character or something new.
“I’m an entrepreneur and business owner. Having to know those who will increase my portfolio because it is very important to me. It is not about Governor Sanwo-Olu at all.
“I started my business in 2001. My background is a decent family. My late husband was the MD of PPMCC. I met him in the course of the work. I actually met him doing business in NNPC.”
When asked directly if her wealth was linked to any political associate, including the Lagos governor, she responded, “not at all”.
Source: Legit.ng
