EFCC Nabs Aisha Achimugu in $1.8B Oil Deal Probe
Operatives of the Economic and Financial Crimes Commission (EFCC) arrested Aisha Sulaiman Achimugu, a prominent Nigerian businesswoman, at Nnamdi Azikiwe International Airport in Abuja on April 29, 2025. The dramatic early-morning arrest, executed around 5 a.m. after her flight from London, stems from allegations of money laundering tied to a $1.8 billion oil project. This high-profile case has gripped Nigeria, spotlighting financial transparency issues in the oil and gas sector.
From Business Tycoon to Fugitive
Achimugu, 51, from Kogi State, leads Felak Concept Group, a conglomerate spanning engineering, maritime, oil and gas, and technology. She resides at 6C Rudolf Close, Maitama, Abuja. In March 2025, the EFCC declared her wanted after she allegedly fled Nigeria to avoid questioning. The agency had summoned her to its Port Harcourt office on March 5 to address a 2022 investigation, but she left the country the next day. Consequently, the EFCC secured an arrest warrant, escalating the manhunt.
Allegations of Illicit Funds
The EFCC probes Achimugu’s role in Oceangate Oil and Gas Engineering, which inked a $1.8 billion deal with Global Petroleum Group in October 2024 for offshore oil development near Grenada. Court documents reveal the agency suspects she facilitated illegal fund transfers, including N8.71 billion into her accounts, which she claimed was for acquiring oil blocks. Achimugu cited Nigerian Upstream Petroleum Regulatory Commission documents, stating her firm bought Shallow Water PPL 3007 and Deep Offshore PPL 302-DO for $25.3 million. Yet, the EFCC alleges money laundering and is tracing funds through banks and the Central Bank of Nigeria.
Legal Battles Intensify
A Federal High Court in Abuja, under Justice Inyang Ekwo, ordered Achimugu to appear before the EFCC on April 29 and in court on April 30. This followed her lawsuit against the EFCC, Nigeria Police Force, and Department of State Services to block her arrest. The EFCC argued her suit aimed to derail the probe, noting a 2024 court ruling dismissed her rights violation claims. The agency highlighted her 136 bank accounts across ten banks, fueling suspicions of financial misconduct.
Airport Arrest Sparks Outcry
Achimugu’s legal team, led by Senior Advocate Chikaosolu Ojukwu, claimed she returned voluntarily to comply with the court. However, EFCC operatives arrested her at the airport, prompting protests from her lawyers. Ojukwu called the arrest a violation of court orders and labeled Achimugu a “prisoner of conscience.” In defiance, she began a hunger strike in custody to protest her treatment. The chaotic arrest saw her aides clashing with operatives as they led her to a bus.
Courtroom Drama Unfolds
On April 30, Achimugu appeared before Justice Ekwo in Abuja. The EFCC is interrogating her over money laundering allegations linked to MBA Trading and Capital Limited and criminal conspiracy. Public interest surged due to earlier claims, later debunked, that she funded opposition leaders Peter Obi and Atiku Abubakar in 2023. Atiku’s aide, Paul Ibe, dismissed these as “falsehoods” for political gain. The EFCC clarified the probe focuses solely on financial crimes.
A High-Profile Figure
Achimugu’s lavish lifestyle, including a seven-day 50th birthday celebration in Grenada and Abuja in 2024, has drawn attention. A University of Jos accountancy graduate, she has earned accolades for corporate governance and policy work, notably on the Petroleum Industry Bill. Widowed since 2020, she raises three children while leading Felak Concept Group. Her arrest underscores Nigeria’s fight against financial crimes in the oil sector, a persistent challenge.
Broader Implications
The EFCC’s actions reflect a crackdown on illicit financial flows, especially post-2023 elections. A Lagos business owner, Adeola, noted how opaque dealings hinder contracts. “Transparency builds trust,” she said. Achimugu’s case may shape how Nigeria handles financial crime suspects evading justice. The EFCC seeks public tips on her activities, stressing professionalism. Meanwhile, her hunger strike highlights tensions between law enforcement and individual rights.
As Achimugu’s legal saga continues, Nigeria watches closely. The court’s rulings will decide if she clears her name or faces penalties for alleged crimes. This case tests the nation’s commitment to accountability in its oil-driven economy. For now, the Federal High Court in Abuja remains the focal point, where justice hangs in the balance for one of Nigeria’s most prominent businesswomen.
