Finally, the Economic and Financial Crimes Commission has finally released socialite and businesswoman, Aisha Achimugu after meeting her bail conditions.
This is coming over two weeks after the court directed that she be released immediately on bail.
She was quietly released a few days ago according to our source.
Quiting a dependable source, the newspaper said that “Achimugu was released by the Commission after perfecting her bail a few days ago.”
Justice Ekwo had earlier ordered Achimugu to submit herself to the EFCC in connection with an ongoing investigation bordering on money laundering and other offences.
The EFCC claims it is investigating Achimugu on a case involving conspiracy, obtaining money by false pretence, money laundering, corruption, and possession of property reasonably suspected to have been unlawfully obtained.
While she was previously arrested and questioned by the EFCC, she was released on administrative bail by the commission.
However, EFCC alleged that she jumped bail and declared Achimugu wanted.
The EFCC, in its affidavit to show cause, averred that on February 12, 2024, when Achimugu was previously arrested, she had, in its office with her lawyer, Darlington Ozurumba, written a statement.
The commission said that in the statement, she explained some of the huge funds that passed through her corporate bank accounts.
It said that Achimugu admitted the sum of N8, 710, 000, 000.00. (eight billion, seven hundred and ten million naira) was paid by her partners as an investment fund into the purchase and payment of a signature bonus for the acquisition of oil bloc on Nov. 8, 2022
It said further investigation however showed that Achimugu, through her company, Ocean Gate Engineering Oli and Gas Limited, acquired two oil blocs, namely Shallow Water -PPL 3007 and Deep Offshore-PPL 302-DO for the total sum of $25, 300, 000 (twenty-five million, three hundred thousand dollars) through majorly cash payments made to the Bureau De Change (BDC) operators who in turn made payments to Federal Government via corporate accounts.
The commission alleged that the ultimate sources of the said sum of $25,300,000 used in the acquisition of the oil blocs were not linked to her lawful earnings or income or any business partner.
“That the acquisition of the oil bocks was marred by corrupt practices, as bribes were paid to the officials of the Nigerian Upstream Petroleum Regulatory Commission in the process.
“That none of the oil blocks assigned/allocated to Ocean Gate Engineering Oil and Gas Limited by the Nigerian Upstream Petroleum Commission has commenced exploration/production from inception to date,” the EFCC said.
The anti-graft agency averred that following the decision of the court in suit No. FHC/ABJ/CS/451/2024, which dismissed Achimugu’s suit, the commission, in continuation of its investigation, sent letters to some agencies of government, including FIRS, CBN, etc.
It said further investigation showed that Achimugu operates a total of 136 bank accounts across ten different banks, both in her personal and corporate names.
Justice Ekwo directed the EFCC to facilitate the release of Achimugu on the Commission’s bail conditions.
This order was made on Wednesday, April 30, 2025, after the court was informed that Achimugu’s previous bail to her lawyer was revoked by the Commission, and fresh conditions were issued.
During the proceeding, an attempt by her counsel, Kehinde Oguwumiju , SAN, to seek for the variation of the terms of the bail was opposed by the Commission’s counsel, E.E Iheanacho, SAN and rejected by the court. following which the same was withdrawn.
All through her travails, Aisha Achimugu has continued to plead her innocence and that she was a victim of a society that doesn’t see anything good coming from a woman.
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