A High Court of the Federal Capital Territory sitting in Apo, Abuja, has ordered the permanent forfeiture of multi-billion-naira assets linked to businesswoman Aisha Achimugu to the Federal Government.
The order was issued on Thursday by Justice Jude Onwugbuzie following an application filed by the Economic and Financial Crimes Commission (EFCC).
Among the assets affected by the ruling are jewellery valued at N4.645 billion and 11 luxury vehicles worth N4.293 billion. The court also ordered the forfeiture of $50,000 and N30 million in cash.
The anti-graft agency had sought a final forfeiture order after obtaining interim control of the assets, arguing that they were liable to forfeiture under relevant laws.
In granting the application, Justice Onwugbuzie ruled in favour of the EFCC, paving the way for the assets to be formally transferred to the Federal Government.
The combined value of the forfeited jewellery and luxury vehicles exceeds N8.9 billion, making it one of the notable asset forfeiture cases handled by the commission in recent times.
The ruling represents a major boost to the EFCC’s asset recovery efforts as it continues to pursue the seizure of properties and funds suspected to be connected to unlawful activities.
With the court’s decision, the jewellery, exotic cars and cash assets are to be taken over by the Federal Government in line with the forfeiture order.
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