‘I’m not Sanwo-Olu’s sugar baby’- Aisha Achimugu slams money laundering claims
Aisha Achimugu, the founder of Oceangate Engineering Oil & Gas Ltd, has strongly rejected claims that her wealth is tied to her association with Lagos State Governor Babajide Sanwo-Olu, amid ongoing investigations by the Economic and Financial Crimes Commission (EFCC).
In an interview with Channels Television, Achimugu, who has found herself at the center of a financial storm, emphasized that she has been an entrepreneur since 2001.
“I started my business in 2001. My background is from a decent family. My late husband was the Managing Director of PPMCC, and I met him in the course of work, especially while doing business with NNPC,” she said, distancing herself from any suggestion that her fortune was made through political connections.
The controversy surrounding Achimugu’s finances began in January 2024 when she hosted an extravagant seven-day 50th birthday celebration on the Caribbean island of Grenada.
The event, which attracted several prominent figures from Nigeria’s political and entertainment circles, including Governor Sanwo-Olu, quickly became the subject of public scrutiny.
This lavish affair sparked rumors about the true source of her wealth, with some speculating that her connections with powerful figures like Sanwo-Olu played a significant role in her financial success.
However, when directly asked whether her money was derived from Sanwo-Olu or any other influential individuals, Achimugu firmly denied it, saying, “Not at all.”
The businesswoman’s legal troubles escalated in April 2025, when the EFCC declared her wanted over allegations of money laundering.
She was arrested at Nnamdi Azikiwe International Airport in Abuja.
In March 2026, a federal high court in Abuja issued a final forfeiture order of $13 million, allegedly linked to her company. The EFCC argued that the funds were proceeds of fraud, though Achimugu’s legal team is currently appealing the decision.
When asked about the $13 million, Achimugu maintained that she was not involved in any wrongdoing. “My house was raided. Only $50,000 and N13 million, which belong to my mom, were found in my house and my personal belongings,” she clarified. “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.”
Regarding the oil block awarded to Oceangate Engineering Oil & Gas Ltd, Achimugu defended the deal, asserting that it was secured through a “competitive and transparent” bidding process.
Addressing the perception of her close relationship with political power, especially in light of Governor Sanwo-Olu’s attendance at her birthday, Achimugu argued that her connections were a product of her success, not the reason for it. “I’ve always had access to power and governance. I’m a known Nigerian. I have friends, and I’ve done well. I haven’t done anything that would make anyone stay away from me,” she said, adding that her interactions with political figures were simply the result of her business success and networking.
“I’m an entrepreneur and business owner. Having to know those who will increase my portfolio is very important to me. It’s not about Governor Sanwo-Olu at all,” she emphasized. She also clarified that the Lagos governor was merely a guest among many who were already present at the event.