Businesswoman Aisha Achimugu has refuted reports claiming that $13 million was recovered from her residence during a raid by the Economic and Financial Crimes Commission (EFCC). According to Achimugu, the actual sums found were $50,000 and ₦13 million.
She made this clarification during an interview on Channels Television on Monday.
Last year, the EFCC declared Achimugu wanted in connection with alleged criminal conspiracy and money laundering. In March, a Federal High Court in Abuja ordered the final forfeiture of $13 million, which was linked to her company, Oceangate Engineering Oil and Gas Ltd, to the Federal Government.
The EFCC alleged that Oceangate worked with unlicensed Bureau de Change operators and bank officials to source large amounts of cash, suspected to be the proceeds of unlawful activities, to pay signature bonuses for two oil blocks acquired in 2024.
Addressing the $13 million claim, Achimugu emphasized that the figure was incorrect and noted that the matter was already before the court, so she could not discuss it in detail. “First, I won’t go so much into the detail of $13 million. As you know, it’s a matter in court. It will be prejudice for me to talk about, you know, what’s already in court. And I still believe strongly in our judicial system in Nigeria. So I know that the right decisions will be made at the due time.
But let me also correct an impression that $13 million was not found in my house when my house was raided. My house was raided, yes, but only $50,000 and N13 million naira belonging to my mom was found in my house, and then again, my personal belonging.
I don’t know where Nigerians got the impression that I had $13 million in my house. I’m not a bank, so I won’t keep $13 million in my house. I have kids who go to school abroad, so it’s important that you have those currencies kept away for emergencies.”
Achimugu also challenged a statement published on the EFCC’s website, arguing that she did not regard it as a valid legal document. She said, “Let me also correct that what is published on the website of EFCC is a certain state. I want to believe that it is not Lagos state because the state was not clear. So it’s what is out there. So I won’t also, you know, entertain that it is Lagos because that hasn’t been thrown at me.”
Regarding the acquisition of the contested oil blocks, Achimugu explained that Oceangate participated in two rounds of the Federal Government’s oil licensing process: a deep offshore bid round from 2022 to 2023 and a mini bid round from 2023 to 2024. The company, she said, emerged successful in both rounds.
“We went through that process, and by the grace of God, we won the process very transparently. It was a public process; it wasn’t selective,” she stated.
