COURT ORDERS FINAL FORFEITURE OF ₦8.9BN ASSETS LINKED TO AISHA ACHIMUGU
A High Court of the Federal Capital Territory (FCT), Abuja, has ordered the final forfeiture of properties worth over ₦8.9 billion linked to businesswoman, Aisha Achimugu, to the Federal Government.
Justice Jude Onwugbuzi issued the order following an application by the Economic and Financial Crimes Commission (EFCC).
The court’s decision transfers ownership of the identified assets to the Federal Government after the anti-graft agency sought their permanent forfeiture.
The latest forfeiture comes less than four months after the Federal High Court in Abuja ordered Oceangate Engineering Oil & Gas Limited, a company owned by Achimugu, to forfeit 13 million dollars to the Federal Government.
The Federal High Court had ruled that the funds were reasonably suspected to be proceeds of unlawful activities.
The EFCC has continued to pursue cases involving suspected proceeds of financial crimes as part of efforts to recover assets linked to alleged unlawful activities.
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