EFCC Arrests Aisha Achimugu, Linked to Sanwo-Olu, Over Alleged N8.7 Billion Money Laundering Scheme

EFCC Arrests Aisha Achimugu, Linked to Sanwo-Olu, Over Alleged N8.7 Billion Money Laundering Scheme

The Economic and Financial Crimes Commission (EFCC) has arrested Aisha Achimugu, a businesswoman reportedly close to Lagos State Governor Babajide Sanwo-Olu, over allegations of criminal conspiracy and money laundering.

Ms. Achimugu was apprehended on Tuesday at the Nnamdi Azikiwe International Airport in Abuja, following a court order mandating her to appear before the anti-graft agency. The arrest comes just a month after the EFCC declared her wanted in connection to the financial crimes.

Justice I.E. Ekwo of the Federal High Court in Abuja had ordered her to present herself at the EFCC’s office on Tuesday, April 29, and appear in court the following day. This directive was issued in a ruling related to suit FHC/ABJ/CS/626/2025, which Ms. Achimugu filed against multiple law enforcement bodies, including the EFCC, Nigeria Police, ICPC, DSS, NSCDC, and Nigeria Immigration Service.

Earlier investigations linked Ms. Achimugu to a flow of public funds allegedly directed to opposition politicians, Peter Obi of the Labour Party and Atiku Abubakar of the Peoples Democratic Party, through her dealings with Governor Sanwo-Olu.

EFCC counsel Ekele Iheanacho informed the court that the agency had invited Ms. Achimugu for questioning earlier on February 12, 2024. She initially cooperated and was granted administrative bail, but later failed to report back as agreed, opting instead to challenge the EFCC through a fundamental rights suit.

In her defense, Ms. Achimugu claimed that an inflow of N8.71 billion into her company’s accounts was intended as investment capital for an oil block acquisition. She submitted documents showing that her firm, Oceangate Engineering Oil and Gas Limited, remitted the funds to the Federal Government in line with documentation from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

However, EFCC investigators revealed that the payments—totaling $25.3 million—were made in cash through bureau de change operators. The agency stated that the original sources of the funds could not be linked to any credible business transactions. Moreover, it was uncovered that Ms. Achimugu controls 136 bank accounts spread across ten banks, in both her personal and company names.

EFCC officials described her legal action as a strategy to derail the ongoing probe, noting that an earlier case (FHC/ABJ/CS/451/2024) had already dismissed her fundamental rights claim.

The case is expected to resume in court on Wednesday.