The Economic and Financial Crimes Commission (EFCC) has accused businesswoman Aisha Achimugu and her company, Oceangate Engineering Oil and Gas Limited, of using $13 million in suspected illicit funds to secure two Nigerian oil blocks.

In an affidavit filed at the Federal High Court in Abuja, EFCC investigator Usman Aliyu stated that Oceangate, incorporated in 2005, successfully acquired Deep Offshore PPL 302 and Shallow Water PPL 3007 during the 2024 oil licensing round. The commission is now seeking to permanently forfeit the $13 million linked to these acquisitions.

Aliyu explained that Oceangate made payments for the oil blocks through Zenith Bank, while Providus Bank transferred $7 million to the Federal Government in March 2025. In total, the company allegedly paid $20 million between March 20 and April 3, 2025.

The EFCC claims the funds were raised through a network of unlicensed Bureau de Change operators and certain bank officials, with cash transactions bypassing the formal banking system. Associates, including Suleiman Muhammed Chiroma, as well as companies Ashrab Energy and Oil Services Limited and Tripple A & Tee Oil Nigeria Limited, were reportedly involved in moving the funds.

Aliyu added that some of the money traced to Lagos State contractors was routed through Ashrab Energy accounts, converted to dollars, and transferred to Oceangate. He maintained that the $13 million was not derived from legitimate business activities but represented proceeds of suspected unlawful transactions.

Oceangate’s director, Iliya Wakil, has denied the allegations, insisting the money came from legitimate earnings and gifts to Achimugu, and urged the court to set aside the interim forfeiture order.

Justice Emeka Nwite adjourned the case to March 25, 2026, for a ruling. The judge had previously, on August 22, 2025, granted an interim forfeiture order and directed the EFCC to notify interested parties to show cause why the funds should not be permanently forfeited.