Businesswoman, Aisha Achimugu, has denied widespread reports that $13 million was recovered from her residence during a raid by the Economic and Financial Crimes Commission (EFCC), saying the actual amount found was far less.
Speaking during an interview on Channels Television on Monday, Achimugu stated that only $50,000 and N13 million were discovered in her home, insisting that claims of $13 million being kept there were incorrect.
Her comments come amid an ongoing legal dispute involving allegations of money laundering and criminal conspiracy linked to her company, Oceangate Engineering Oil and Gas Ltd.
Achimugu confirmed that her house was indeed raided by the EFCC but rejected what she described as a false narrative about the amount of money recovered.
“My house was raided, yes, but only $50,000 and N13 million naira belonging to my mom was found in my house,” she said during the interview. “I don’t know where Nigerians got the impression that I had $13 million in my house. I’m not a bank.”
She explained that the foreign currency in her possession was meant for family needs, especially emergencies, noting that her children study abroad.
“In a situation where you have kids schooling outside the country, it is important to have some foreign currency available for emergencies,” she added.
Her remarks appear to be a direct response to public reactions and media reports suggesting that large sums of money were found in her residence during the anti-graft agency’s operation.
The controversy surrounding the $13 million is part of a broader legal case involving Achimugu and her company. Last year, the EFCC declared her wanted over alleged financial crimes. The matter later proceeded to court, where the Federal High Court in Abuja ruled in March for the final forfeiture of $13 million linked to Oceangate.
The court ordered that the funds be forfeited to the Federal Government, following allegations by the EFCC that the money was connected to unlawful activities.
According to the anti-corruption agency, Oceangate Engineering Oil and Gas Ltd was involved in a scheme that included working with unlicensed Bureau de Change operators and certain bank officials to obtain large sums of cash.
The EFCC alleged that the funds were used to pay signature bonuses for two oil blocks acquired by the company in 2024, raising suspicions about the source of the money.
However, Achimugu declined to discuss details of the $13 million case, citing its status in court.
“I won’t go so much into the detail of $13 million. As you know, it’s a matter in court. It will be prejudicial for me to talk about what is already before the court,” she said.
She added that she has confidence in Nigeria’s judicial system and believes the case will be resolved fairly.
“I still believe strongly in our judicial system in Nigeria. I know that the right decisions will be made at the due time,” she said.
Achimugu also questioned information published on the EFCC’s website, saying she does not consider it an official or reliable legal document.
She pointed out that certain details in the publication were unclear, particularly regarding the location referenced.
“What is published on the website of EFCC is certain state. I want to believe that it is not Lagos State because the state was not clear,” she said.
She added that she would not accept assumptions or interpretations that have not been formally presented to her through legal channels.
Her comments highlight ongoing tensions between individuals under investigation and law enforcement agencies, especially in cases that attract public attention.
Addressing questions about how her company acquired the disputed oil blocks, Achimugu maintained that the process was transparent and followed due procedure.
She explained that Oceangate participated in two separate licensing rounds organised by the Federal Government. These included a deep offshore bid round between 2022 and 2023, as well as a mini bid round between 2023 and 2024.
According to her, the company emerged successful through a competitive and open process.
“We went through that process and by the grace of God we won the process very transparently. It was a public process, it wasn’t selective,” she said.
The award of oil blocks in Nigeria is often closely monitored due to the country’s heavy reliance on oil revenue. Signature bonuses—large upfront payments made by companies to secure oil exploration rights—are a key part of the process but have also been a source of controversy over the years.
The EFCC has intensified efforts in recent years to tackle corruption, money laundering, and illicit financial flows, particularly in sectors such as oil and gas, where large sums of money are involved.
Cases involving high-profile individuals and companies often draw public attention, as Nigerians demand greater transparency and accountability in the management of national resources.
The dispute between Achimugu and the EFCC reflects broader concerns about how financial investigations are handled and reported, especially when they involve significant amounts of money.
While the anti-graft agency continues to pursue its case, Achimugu has maintained her innocence and insisted that some of the claims against her are inaccurate or exaggerated.
For now, Achimugu’s public statements appear aimed at correcting what she sees as misinformation and defending her reputation.
“I’m not a bank,” she reiterated, stressing that the narrative about $13 million being found in her home is simply not true.
As the case unfolds, many Nigerians will be watching closely, not only for the verdict but also for what it reveals about transparency, due process, and accountability in the country’s financial and oil sectors.