Aisha Achimugu, a businesswoman, has dismissed claims that her wealth is tied to her relationship with Babajide Sanwo-Olu, the governor of Lagos state.
In an interview with Channels Television on Monday, Achimugu, founder of Oceangate Engineering Oil & Gas Ltd, said her journey into business began in 2001.
She previously made headlines in January 2024 when she hosted a lavish seven-day 50th birthday celebration in Grenada, attended by prominent figures in Nigeria’s entertainment and political space, including Sanwo-Olu.
More than a year later, the Economic and Financial Crimes Commission (EFCC) declared her wanted over allegations of money laundering. On April 29, 2025, she was arrested at Nnamdi Azikiwe International Airport in Abuja.
In March 2026, a federal high court in Abuja ordered the final forfeiture of $13 million allegedly connected to Achimugu and her company. The presiding judge, Emeka Nwite, ruled that the EFCC had demonstrated the funds were proceeds of fraud.
Following the ruling, her company said it had begun the process of appealing the forfeiture order.
Amid ongoing controversy surrounding the funds, there have been reports suggesting that Achimugu received backing from political figures.
Addressing the forfeited $13 million, Achimugu declined to provide details, citing the ongoing court proceedings.
She maintained that the money was not discovered in her home, stating instead that only $50,000 and N13 million belonging to her mother were found.
“My house was raided. Only $50,000 and N13 million belonging to my mom was found in my house and my personal belongings,” she said.
“I don’t know where Nigeria got the impression that I have $13 million in my house. I’m not a bank. I won’t keep $13 million in my house.”
On the source of her wealth and acquisition of an oil block, Achimugu said the asset belongs to Oceangate Engineering Oil & Gas Ltd.
She explained that the company secured the oil block through a “competitive and transparent” bidding process.
Responding to questions about her relationship with Sanwo-Olu and his presence at her birthday celebration, Achimugu said she has long had access to influential circles due to her success.
“I have always had access to power and governance. I’m a known Nigerian. I have friends, and I have done well. I have not done anything that will make anyone stay away from me,” she said.
“If they are on a shore where I’m doing something, they pump in and celebrate with me. It is not a rare character or something new.
“I’m an entrepreneur and business owner. Having to know those who will increase my portfolio because it is very important to me. It is not about Governor Sanwo-Olu at all.
“I started my business in 2001. My background is a decent family. My late husband was the MD of PPMCC. I met him in the course of the work. I actually met him doing business in NNPC.”
When asked if her wealth came from associates such as Sanwo-Olu, she replied, “not at all”.
