EFCC Probes Sanwo-Olu Over $13m Linked to Aisha Achimugu and Lagos Contractors

On Wednesday, a Federal High Court in Abuja ordered the permanent forfeiture of $13 million held by Aisha Achimugu’s firm. The EFCC has traced part of those funds to Lagos State contractors and is now examining possible links to Governor Babajide Sanwo-Olu’s administration. Investigators say unlicensed agents and bank officials moved contractor payments into Achimugu’s accounts without any valid business relationship. The agency is withholding full details to avoid jeopardising its inquiry into unnamed officials. Oceangate Engineering, Achimugu’s company, denies all allegations and wants the forfeiture suit dismissed. In affidavits, it insists listed agents acted independently under a valid Bureau de Change licence. Judge Emeka Nwite ruled that the company’s explanations were not convincing. The EFCC continues to probe contractors, agents and the possible involvement of state officials.

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