Key points
- A Federal Capital Territory High Court has ordered the final forfeiture of assets linked to businesswoman Aisha Achimugu to the Federal Government.
- The forfeited assets include jewellery valued at N4.65 billion, 11 exotic vehicles worth N4.29 billion, $50,000 and N30 million in cash.
- Justice Jude Onwugbuzie granted the order following an application by the Economic and Financial Crimes Commission (EFCC).
- The ruling represents another major asset recovery secured by the anti-graft agency through civil forfeiture proceedings.
Main Story
A Federal Capital Territory (FCT) High Court sitting in Apo, Abuja, has ordered the final forfeiture of assets linked to businesswoman Aisha Achimugu to the Federal Government.
Justice Jude Onwugbuzie granted the order on Thursday following an application by the Economic and Financial Crimes Commission (EFCC) seeking the permanent forfeiture of the assets.
The assets ordered forfeited include jewellery valued at N4.65 billion, 11 exotic vehicles worth N4.29 billion, $50,000 in cash and N30 million.
The combined value of the forfeited assets is estimated at more than N8.9 billion, excluding the dollar component.
The Issues
The ruling forms part of the EFCC’s ongoing use of civil forfeiture proceedings to recover assets suspected to be linked to unlawful activities.
Civil forfeiture allows the government to seek the recovery of assets through the courts without requiring a prior criminal conviction, provided the legal threshold established under the applicable law is satisfied.
The case also underscores the judiciary’s role in determining the disposition of assets subject to anti-corruption investigations.
What’s Being Said
Justice Onwugbuzie granted the final forfeiture order after considering the EFCC’s application.
According to the anti-graft agency, the assets will now vest in the Federal Government following the court’s decision.
Further details of the judgment are expected to be released by the court and the EFCC.
What’s Next
The Federal Government is expected to take possession of the forfeited assets in line with the court’s order.
The EFCC may also provide additional information on the circumstances leading to the forfeiture and the legal basis for the proceedings.
Bottom Line
The forfeiture of assets valued at more than N8.9 billion marks another significant recovery for the EFCC as it continues to pursue the recovery of assets through civil forfeiture proceedings. More details on the judgment and the underlying case are expected as official documents become available.
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