Businesswoman, Aisha Achimugu, has firmly denied claims that her wealth is tied to political patronage, insisting that her financial success is the result of legitimate business ventures.
Speaking during an interview on Channels Television’s Politics Today, Achimugu dismissed speculation linking her finances to Lagos State Governor, Babajide Sanwo-Olu, describing such claims as unfounded and harmful to her reputation.
The entrepreneur, who has come under public scrutiny over her lavish lifestyle, said she built her business career independently, tracing her roots in the oil and gas sector back to 2001.
“I started my business in 2001. My background is a decent family. My late husband was the MD of PPMC. I met him in the course of the work. I actually met him doing business in NNPC,” she said.
When asked whether her wealth had any connection to political figures or influential associates, Achimugu responded emphatically: “Not at all.”
Public interest in her finances intensified in January 2024 after she hosted an elaborate seven-day celebration for her 50th birthday in Grenada, attended by prominent figures from Nigeria’s political and entertainment circles, including Governor Sanwo-Olu.
Her remarks come against the backdrop of an ongoing legal dispute involving the Economic and Financial Crimes Commission (EFCC), which had earlier declared her wanted over alleged money laundering before arresting her at the Nnamdi Azikiwe International Airport in Abuja on April 29, 2025.
Achimugu also refuted reports that $13 million was recovered from her residence during a raid, stating that only $50,000 and N13 million were found, including funds belonging to her mother.
“I’m not a bank, so I won’t keep $13 million in my house,” she said, disputing widespread claims about the alleged recovery.
While declining to go into details due to the matter being before the court, she expressed confidence in Nigeria’s judicial system to deliver a fair outcome.
She further questioned statements attributed to the EFCC on its official platform, pointing to what she described as inconsistencies, particularly regarding the jurisdiction referenced in the allegations against her.
On the acquisition of oil blocks linked to her company, Oceangate Engineering Oil & Gas Ltd, Achimugu maintained that due process was followed. She explained that the firm participated in competitive federal licensing rounds between 2022 and 2024 and emerged successful through a transparent process.
“We went through that process and by the grace of God we won the process very transparently. It was a public process, it wasn’t selective,” she said.
The case is part of a broader legal battle between the EFCC and her company. In March 2026, a Federal High Court in Abuja, presided over by Justice Emeka Nwite, ordered the final forfeiture of $13 million linked to Achimugu and her firm to the Federal Government, ruling that the funds were proceeds of unlawful activities.
Despite the court ruling, Achimugu has maintained her innocence, insisting that her wealth is not politically motivated but derived from lawful business operations.
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