Nigerian businesswoman Aisha Achimugu wanted for money laundering

Key Points

• Nigeria’s EFCC declared Aisha Achimugu wanted over alleged money laundering linked to a $1.8 billion oil project in Grenada.
• A Federal High Court ruled EFCC could investigate Achimugu, dismissing her legal challenge and upholding an asset forfeiture order.
• Achimugu’s company, Oceangate Oil and Gas, signed a $1.8 billion oil deal in Grenada before she was declared wanted.

Nigeria’s Economic and Financial Crimes Commission (EFCC) has declared businesswoman and socialite Aisha Achimugu wanted over allegations of criminal conspiracy and money laundering. The move follows her involvement in a $1.8 billion oil project in Grenada.

In a statement, EFCC spokesperson Dele Oyewale called on the public to assist in locating her. “Aisha Sulaiman Achimugu is wanted in connection with an alleged case of criminal conspiracy and money laundering,” the statement read. The agency also released her photograph and urged anyone with useful information to come forward.

According to the circular, Achimugu, 51, is from Ofu Local Government Area in Kogi State. Her last known address was listed as 6C, Rudolf Close, Maitama, Abuja. The EFCC asked anyone with details about her whereabouts to contact its offices in Ibadan, Uyo, Sokoto, Maiduguri, Benin, Makurdi, Kaduna, Ilorin, Enugu, Kano, Lagos, Gombe, Port Harcourt, or Abuja.

EFCC pursues Achimugu in fraud case

Before declaring her wanted, the EFCC had summoned Achimugu to appear at its Port Harcourt office on Mar. 5 over allegations of money laundering and a high-profile investment scam. She failed to show up.

Amid speculation about political ties, the commission dismissed claims linking its investigation to former Vice President Atiku Abubakar or Lagos State Governor Babajide Sanwo-Olu. It stressed that Achimugu was being investigated strictly for financial crimes and that politics had nothing to do with the case.

The EFCC also pointed out that its probe into Achimugu wasn’t new. She had been under investigation since 2022 and had previously secured a court order preventing her arrest—an injunction that was overturned by a Federal High Court in Abuja on Feb. 19, 2025.

The court ruled that law enforcement agencies, including the EFCC, have the right to investigate when there is reasonable suspicion or evidence of a crime. It also upheld an interim order for the forfeiture of assets linked to Achimugu, dismissing her legal challenge as baseless.

Reaffirming its commitment to professionalism and fairness, the EFCC urged the public not to politicize the case. “The EFCC is non-partisan and non-sectarian,” the agency said, calling for continued public trust in its work.

Achimugu’s legal troubles after $1.8 billion deal

Achimugu’s legal troubles emerged just months after her company, Oceangate Oil and Gas Engineering, signed a major deal with Global Petroleum Group (GPG) in October 2024. The agreement focused on developing offshore oil and gas resources near Grenada.

The $1.8 billion project, which could eventually expand to $8 billion, is backed by a 38-year production-sharing agreement (PSA) with Grenada’s government. Covering more than 7,500 square kilometers of offshore blocks, the deal is expected to boost Grenada’s position in the Caribbean energy sector.

Founded in 2005, Oceangate Oil and Gas Engineering specializes in oil and gas exploration and production. The company works across the entire supply chain, handling everything from identifying and evaluating assets to developing infrastructure. Its services range from exploration and pipeline solutions to engineering procurement, construction, and installation.