Businesswoman Aisha Achimugu remains in the custody of the Economic and Financial Crimes Commission (EFCC) after failing to meet the bail conditions set by the agency. Her initial sureties were rejected for not possessing property in Abuja, as stipulated.
Achimugu, detained over an alleged N8.71 billion oil bloc transaction, submitted new sureties last Friday. However, the EFCC will assess their eligibility on Monday.
“Aisha remains in custody until the bail conditions are fully met,” a senior EFCC official confirmed. “The court authorized us to set the terms, which include two sureties with landed property in Abuja. The first set did not qualify.”
The EFCC is also investigating her control of 136 bank accounts, many registered under corporate entities. Achimugu was declared wanted in March 2025 for alleged criminal conspiracy and money laundering.
An affidavit from EFCC investigator Chris Odofin outlines charges including conspiracy, obtaining money under false pretences, money laundering, corruption, and unlawful asset acquisition. It also confirms she manages 136 accounts across 10 different banks.
In her statement, Achimugu claimed the N8.71 billion traced to her accounts was investment capital for acquiring an oil bloc.
She said the funds were later remitted to a Federal Government account via her company, Oceangate Engineering Oil and Gas Limited, referencing documentation from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
However, EFCC investigations indicate that Oceangate acquired two oil blocs Shallow Water PPL 3007 and Deep Offshore PPL 302-DO for $25.3 million, allegedly paid through bureau de change operators. Authorities are now examining the source of the funds and the transparency of the acquisition process.
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