Lagos-based socialite and Group Chief Executive Officer of Oceangate Engineering Oil & Gas Ltd, Aisha Achimugu, has denied reports that $13 million was discovered in her residence, describing the claim as inaccurate and misleading.
Achimugu denied the claims during an appearance on Channels Television’s Politics Today on Monday, where she addressed allegations surrounding a raid on her home by the Economic and Financial Crimes Commission (EFCC).
Addressing the widely circulated claim, Achimugu insisted that no such sum was recovered from her residence.
“Let me also correct an impression that 13 million dollars was not found in my house when my house was raided. And 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 entertain that it’s a Lagos state because that hasn’t been thrown at me. My house was raided, yes, but only $50,000 and 13 million naira belonging to my mom was found in my house and then again, my personal belongings. I don’t know where Nigerians got the impression that I had 13 million dollars in my house. I’m not a bank, so I won’t keep 13 million dollars in my house,” she stated.
She, however, declined to comment extensively on the matter, citing ongoing legal proceedings.
‘Emergency Reasons’
She explained that the foreign currency in her possession was kept for practical reasons, noting that her children study abroad.
“It is important to have some foreign currency available for emergencies,” she said.
Speaking on the source of her wealth, Achimugu maintained that her financial success is rooted in legitimate business ventures.
She disclosed that her company participated in oil block bidding rounds between 2022 and 2024 and emerged successful through what she described as a transparent process. Achimugu also dismissed suggestions that her success is tied to political connections.
‘Lavish Celebration’
In 2024, the businesswoman gained significant media attention for a seven-day birthday celebration in Grenada, which was attended by high-profile guests, reportedly including Lagos State Governor Babajide Sanwo-Olu.
The socialite also defended her widely publicised birthday celebration, noting that it had been “planned for 10 years” and was not funded with any money under investigation.
Reacting to the presence of Sanwo-Olu at her birthday celebration, she said it should not be interpreted as evidence of a special relationship or favouritism.
On her delayed response to an EFCC invitation, she explained that she was out of the country at the time, a development her lawyer communicated to the authorities. She added that her brief return to Nigeria before travelling again may have been “misinterpreted as an attempt to evade investigation.”
The businesswoman further denied any involvement in campaign financing allegations and described the timing of events surrounding the investigation, including fund transfers, her being declared wanted, and the raid on her residence, “as coincidental.”
Despite the controversy, she said she “has no regrets” and continues to operate within legal and ethical boundaries.
Court Ruling
In March, a Federal High Court in Abuja, presided over by Justice Emeka Nwite, ordered the final forfeiture of $13 million linked to Achimugu and her company to the Federal Government.
The court held that the EFCC had established that the funds were proceeds of unlawful activities, rejecting claims that they originated from legitimate business earnings or gifts due to lack of supporting evidence.
The anti-graft agency had alleged that the funds were moved through suspicious channels and linked to payments for oil block licences. However, Achimugu and her firm have consistently denied any wrongdoing.