Aisha Achimugu Denies Sanwo-Olu Link, Speaks on EFCC Case, $13m Forfeiture Battle

Lagos socialite Aisha Achimugu

Aisha Achimugu Denies Sanwo-Olu Link, Speaks on EFCC Case, $13m Forfeiture Battle

Businesswoman and founder of Oceangate Engineering Oil & Gas Ltd, Aisha Achimugu, has strongly denied claims that her wealth is linked to Lagos State Governor Babajide Sanwo-Olu, insisting she is a self-made entrepreneur who built her business empire from 2001.

She made the clarification during an interview with Channels Television on Monday, amid ongoing public scrutiny of her finances and a legal battle with the Economic and Financial Crimes Commission (EFCC).

Achimugu said her entrepreneurial journey began long before she became widely known, stressing that her success was achieved through years of private sector work and legitimate business activities.

“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,” she said.

When asked directly whether her wealth was linked to Governor Sanwo-Olu or any influential associates, she firmly denied the allegation, stating: “Not at all.”

Public Attention After Grenada Birthday Celebration

Achimugu first came under intense public attention in January 2024 after hosting a lavish seven-day 50th birthday celebration in Grenada.

The event attracted prominent Nigerian entertainers, business leaders, and political figures, including Governor Sanwo-Olu, sparking widespread speculation about the source of her wealth.

EFCC Arrest and $13m Forfeiture Order

In April 2025, the EFCC declared Achimugu wanted over allegations of money laundering before she was later arrested at the Nnamdi Azikiwe International Airport in Abuja.

By March 2026, a Federal High Court in Abuja granted a final forfeiture order of $13 million allegedly linked to her company, a ruling she is currently appealing.

The court, presided over by Justice Emeka Nwite, held that the EFCC had proven the funds were proceeds of unlawful activity.

Her company has since filed an appeal, with the case still ongoing in court.

“I’m Not a Bank” — Achimugu Rejects Claims

Reacting to the forfeiture allegations, Achimugu declined to go into full detail due to the ongoing litigation but strongly denied possessing such funds.

“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 and Business Operations

On claims surrounding her company’s oil block, Achimugu said it was acquired through a transparent and competitive bidding process in the oil and gas sector.

She insisted that her business operations are legitimate and based on structured investments rather than political connections or influence.

“My Wealth Is Not Political” — Achimugu

Addressing her relationships with political figures, Achimugu said her access to influential individuals has often been misunderstood.

“I have always had access to power and governance. I’m a known Nigerian. I have friends, and I have done well,” she said.

She added that Governor Sanwo-Olu’s presence at her birthday event was incidental, noting that he was among several invited guests.

“I’m an entrepreneur and business owner. Having to know those who will increase my portfolio is very important to me. It is not about Governor Sanwo-Olu at all,” she added.