Achimugu denies political backing, insists wealth is legitimate

Prominent Nigerian businesswoman, Aisha Achimugu, has dismissed claims linking her financial success to political patronage, stating emphatically that her wealth is independently earned.

Speaking during an appearance on Channels Television’s Politics Today, Achimugu rejected insinuations that she is financially backed by Lagos State Governor, Babajide Sanwo-Olu.

The entrepreneur, who has faced sustained public scrutiny over her opulent lifestyle, described the allegations as baseless and damaging to her reputation.

“I started my business in 2001. My background is a decent family. My late husband was the MD of PPMC. I met him in the course of the work. I actually met him doing business in NNPC,” she explained, outlining her early exposure to the oil and gas sector.

When asked directly if her wealth was tied to Sanwo-Olu or any politically exposed associates, she responded, “Not at all.”

Achimugu first drew widespread attention in January 2024 after hosting an elaborate week-long 50th birthday celebration in Grenada, attended by high-profile figures across Nigeria’s political and entertainment circles, including Governor Sanwo-Olu. The event intensified speculation about the origins of her wealth.

Her public clarification comes amid ongoing legal challenges involving the Economic and Financial Crimes Commission (EFCC). The anti-corruption agency had declared her wanted over alleged money laundering before arresting her at Nnamdi Azikiwe International Airport, Abuja, on April 29, 2025.

Addressing claims that $13 million was recovered from her residence, Achimugu firmly denied the reports, stating that only $50,000 and N13 million were found during a raid on her home.

“I’m not a bank, so I won’t keep $13 million in my house,” she said, adding that the funds recovered included money belonging to her mother and personal effects.

She declined to provide extensive details on the matter, citing ongoing court proceedings, but expressed confidence in Nigeria’s judicial system to deliver justice.

Achimugu also questioned the credibility of certain statements published on the EFCC’s website, noting inconsistencies regarding the jurisdiction referenced in the agency’s claims.

On the issue of oil block allocations linked to her company, Oceangate Engineering Oil & Gas Ltd, she maintained that due process was followed. According to her, the firm participated in competitive federal licensing rounds between 2022 and 2024 and emerged successful through a transparent 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 controversy is tied to a broader legal dispute between the EFCC and Oceangate. In March 2026, a Federal High Court in Abuja, presided over by Justice Emeka Nwite, ordered the final forfeiture of $13 million linked to Achimugu and her firm to the Federal Government, ruling that the funds were proceeds of unlawful activities.

Despite the ruling, Achimugu continues to maintain her innocence, insisting that her wealth is the product of legitimate business ventures rather than political influence.