Achimugu still in EFCC Custody Over unmet bail conditions
Detained businesswoman, Aisha Achimugu, remains in the custody of the Economic and Financial Crimes Commission (EFCC) as she is yet to meet the bail conditions imposed by the anti-graft agency.
Achimugu, who is under investigation over an alleged N8.71 billion oil bloc transaction, has failed to produce sureties with landed property in Abuja, a key requirement for her release.
A top EFCC official confirmed to the Nation over the weekend that she is still being held. “Aisha is still in detention until she meets the bail conditions,” the source said.
Read also: Achimugu lands in EFCC net
“The court mandated the EFCC to set the bail conditions. We asked her to bring two sureties with landed property in Abuja. Her sureties could not meet our terms.
“She produced new sureties on Friday. We will verify the claims of those standing for her on Monday. If these sureties do not fulfill the required conditions, she will remain with us.”
Achimugu was declared wanted by the EFCC in March 2025 on allegations bordering on conspiracy, money laundering, and obtaining money by false pretence.
According to an affidavit filed by EFCC investigator, Mr. Chris Odofin, the businesswoman operates 136 bank accounts across 10 banks, a mix of personal and corporate accounts.
The affidavit states that Achimugu claimed the N8.71 billion inflow into her corporate accounts was an “investment fund” meant for the acquisition of an oil bloc.
She further said the money was remitted into the Federal Government’s account via her company, Oceangate Engineering Oil and Gas Limited, and referenced documents from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
However, EFCC findings alleged that Achimugu’s company acquired two oil blocs, Shallow Water PPL 3007 and Deep Offshore PPL 302-DO, at a cost of $25.3 million, with payments allegedly made through bureau de change operators.
The Commission is now probing the source of the funds and the transparency surrounding the oil bloc acquisition.
“She will still have to explain how she came about such large sums and the nature of these multiple bank accounts,” the source added.
