Businesswoman Aisha Achimugu Under EFCC Custody Over Alleged ₦8.71 Billion Oil Bloc Transaction
"Aisha Achimugu's Detention Continues: She Remains in EFCC's Custody"
Aisha Achimugu, a businesswoman, is still in the clutches of the Economic and Financial Crimes Commission (EFCC) as she has yet to fulfill the conditions to earn bail regarding her suspected role in a ₦8.71 billion oil bloc deal.
The anti-graft agency revealed over the weekend that the initial two sureties presented by Achimugu didn't meet the bail requirement of owning property within Abuja. An unnamed senior EFCC official disclosed to The Nation that two fresh sureties were introduced on Friday, to be verified come Monday.
Here's a glimpse into the ins and outs of the ongoing investigation:
Unraveling the Oil Bloc Transaction
- Alleged Oil Block Acquisitions: Achimugu stands accused of purchasing two oil blocks, Shallow Water PPL 3007 and Deep Offshore PPL 302-DO, at a cost of $25.3 million. The money supposedly used for these deals was reportedly funneled through various bureau de change operators, fueling questions about its source[3][5].
- Questionable Bank Account Activity: With her name on 136 bank accounts spread across ten financial institutions, both personal and corporate, Achimugu's accounts are under scrutiny for potentially being used to channel questionable funds[3][4].
Legal Challenges and Detention
- Achimugu's attempted release on bail has yet to bear fruit due to the ongoing verification process for the new sureties. If these new sureties fail to meet the established conditions, she will continue to be detained[1][5].
- Previously, a court demanded that the EFCC release Achimugu within 24 hours; however, she remained incarcerated due to the unresolved bail issues[3]. In addition, the EFCC received a refund of N58 million identified as proceeds of crime from Achimugu[2].
Separate Investigations and Allegations
The EFCC is also examining a separate case involving the alleged misappropriation of N200 billion ($125.3 million) in public funds involving Achimugu[4]. Further, she was declared wanted by the EFCC earlier over allegations of money laundering, criminal conspiracy, and the unlawful acquisition of offshore oil assets before her voluntary return from London[4].
Stay tuned for updates on this ongoing investigation, as the EFCC's probe into Achimugu's affairs continues to unfold.
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- The businesswoman, Aisha Achimugu, is still in custody of the Economic and Financial Crimes Commission (EFCC) due to ongoing investigations over an alleged ₦8.71 billion oil bloc transaction.
- The EFCC is probing Achimugu's affairs in connection with the acquisition of two oil blocks, Shallow Water PPL 3007 and Deep Offshore PPL 302-DO, at a cost of $25.3 million, with funds possibly channelled via bureau de change operators.
- With her name on 136 bank accounts, both personal and corporate, across ten financial institutions, Achimugu's accounts are under scrutiny for potentially being used to channel questionable funds.
- Achimugu's attempts at securing bail have not been successful due to the verification process for her new sureties, leading to her continued detention. The EFCC previously demanded that she be released within 24 hours, but she remained incarcerated due to unresolved bail issues.
- The EFCC is also investigating a separate case involving the alleged misappropriation of N200 billion in public funds, with Achimugu being declared wanted over allegations of money laundering, criminal conspiracy, and unlawful acquisition of offshore oil assets.
- The EFCC's investigation into Achimugu's affairs spans various aspects, including politics, general news, and crime and justice, as it continues to unfold.
- The case of Aisha Achimugu highlights the importance of transparency and accountability in Nigerian politics and business, particularly in the oil sector, and the role of institutions like the EFCC in maintaining these standards.
