Businesswoman Aisha Achimugu Faces EFCC Over $5.5M Oil Block Allegations
Court Appearance: Aisha Achimugu Faces Legal Proceedings
The Economic and Financial Crimes Commission (EFCC) grilled Nigerian businesswoman and Oceangate Engineering Oil and Gas Limited CEO, Aisha Achimugu, for an intense eight-hour session before reportedly taking her to court.
Sources at the EFCC shared that Achimugu, who was arrested upon her arrival at Nnamdi Azikiwe International Airport, Abuja, from London in the early hours of Tuesday, has been accused of suspicious activities relating to an N8.71 billion oil block transaction.
Our insiders revealed that Achimugu's court appearance took place on Wednesday, around 11:35 am. The news comes after she was interrogated for hours by EFCC investigators in Abuja.
Investigations suggest that Achimugu allegedly used "investment funds" in her company accounts to acquire oil blocks PPL 3007 (Shallow Water) and PPL 302-DO (Deep Offshore) via Oceangate Engineering Oil and Gas Limited. According to reports, these funds were funneled through 136 bank accounts linked to her and associated companies, with transactions executed through bureau de change operators to conceal their origins.
The telecom tycoon may also be linked to a broader $150.3 million fraud probe. The EFCC is focusing on this case to tackle systemic corruption within Nigeria's oil sector.
Accusations against Achimugu have been under investigation since last year, with other high-profile figures nabbed by the EFCC, including five socialites and Cubana ChiefPriest's friend, E-Money.
Detailed reports submitted to the EFCC indicate that the acquisition costs for both oil blocks totaled $25.3 million, untraceable to any legitimate business activities. Furthermore, it is alleged that funds were layered through multiple accounts to evade detection.
As the legal proceedings progress, Achimugu has declared a hunger strike while in EFCC custody. Meanwhile, the EFCC is working relentlessly to expose corrupt practices and bring the perpetrators to justice.
- Aisha Achimugu, the CEO of Oceangate Engineering Oil and Gas Limited, was reportedly interrogated by the Economic and Financial Crimes Commission (EFCC) for eight hours and subsequently appeared in court in Abuja.
- The EFCC has accused Achimugu of suspicious activities relating to an N8.71 billion oil block transaction, allegedly using investment funds in her company accounts to acquire oil blocks PPL 3007 (Shallow Water) and PPL 302-DO (Deep Offshore) through 136 bank accounts and bureau de change operators.
- The EFCC is focusing on a broader $150.3 million fraud probe, which includes the case against Achimugu, aiming to address systemic corruption within Nigeria's oil sector.
- Accusations against Achimugu have been under investigation since last year, with other high-profile figures also apprehended by the EFCC, such as five socialites and Cubana ChiefPriest's friend, E-Money.
- Reports submitted to the EFCC indicate that the acquisition costs for both oil blocks totaled $25.3 million, untraceable to any legitimate business activities, and it is alleged that funds were layered through multiple accounts to evade detection.
- Amidst the legal proceedings, Achimugu has declared a hunger strike while in EFCC custody, as the commission continues its relentless efforts to expose corrupt practices and bring the perpetrators to justice.
