Aisha Achimugu, the businesswoman detained in connection with an alleged N8.71 billion oil bloc deal, remains in the custody of the Economic and Financial Crimes Commission (EFCC) as she has yet to meet the court-mandated bail conditions.
The EFCC had set specific conditions for her release, requiring two sureties with landed property in Abuja. However, according to EFCC sources, Achimugu’s initial sureties could not meet these terms, and as a result, she remains in detention.
On Friday, new sureties were presented by the businesswoman, but the EFCC is yet to verify the authenticity of their claims. The verification process is scheduled for Monday, and if these new sureties fail to meet the required conditions, Achimugu will remain in EFCC custody.
The businesswoman, who is under investigation for alleged criminal conspiracy, money laundering, and corruption, was declared wanted by the EFCC in March 2025. She faces serious charges related to the acquisition of two oil blocs and the alleged movement of illicit funds through 136 bank accounts.
EFCC officials have raised questions over the transparency of the oil bloc acquisition process, pointing out that payments were reportedly made through bureau de change operators.
Achimugu has explained that the N8.71 billion inflow into her corporate accounts was an “investment fund” meant for acquiring the oil blocs. She further stated that the funds were transferred to the Federal Government’s account through her company, Oceangate Engineering Oil and Gas Limited, in line with documentation from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
Despite these claims, the EFCC is continuing its investigation to trace the source of the funds and determine whether any unlawful activities took place in the acquisition process.
