The Federal Capital Territory High Court in Apo, Abuja, has ordered the permanent forfeiture of assets valued at about N8.9 billion linked to businesswoman Aisha Achimugu to the Federal Government.
Justice Jude Onwugbuzie granted the order following an application by the Economic and Financial Crimes Commission (EFCC), which sought the final forfeiture of the assets over alleged links to unlawful activities.
The court’s decision meant the items listed in the forfeiture application would now become property of the Federal Government.
The forfeited assets included luxury jewellery valued at N4.65 billion, 11 exotic vehicles worth N4.29 billion, $50,000, and N30 million in cash.
The EFCC had earlier secured legal backing to preserve the assets pending the determination of its application for permanent forfeiture.
In its submission before the court, the commission argued that the properties were connected to proceeds of unlawful activities and should be surrendered to the government.
Delivering judgment, Justice Onwugbuzie approved the EFCC’s request and directed that the assets be finally forfeited.
The ruling followed the commission’s application asking the court to transfer ownership of the properties to the Federal Government.
No further conditions were attached to the forfeiture order.
The development added to previous legal proceedings involving Achimugu and the EFCC.
The businesswoman had earlier disputed reports concerning assets allegedly recovered from her, including claims involving foreign currency found during investigations.
The EFCC has continued its investigations and legal actions involving assets it says are connected to financial crimes.
The latest ruling represented a major victory for the anti-graft agency in its efforts to recover assets suspected to be linked to illegal activities.
