Lagos-based socialite and chief executive of Oceangate Engineering Oil & Gas Ltd, Ms Aisha Achimugu, has denied reports that $13 million was discovered in her residence, describing the claim as inaccurate and misleading.
Ms Achimugu denied the claims during an appearance on Channels Television’s Politics Today late on Monday, where she addressed allegations surrounding a raid on her home by the Economic and Financial Crimes Commission (EFCC).
Addressing the widely circulated claim, Ms Achimugu insisted that no such sum was recovered from her residence.
“Let me also correct an impression that 13 million dollars was not found in my house when my house was raided. And let me also correct that what is published on the website of EFCC is a certain state. I want to believe that it is not Lagos state because the state was not clear.
“So, it’s what is out there. So I won’t also entertain that it’s a Lagos state because that hasn’t been thrown at me. My house was raided, yes, but only $50,000 and 13 million naira belonging to my mom were found in my house and then again, my personal belongings. I don’t know where Nigerians got the impression that I had 13 million dollars in my house. I’m not a bank, so I won’t keep 13 million dollars in my house,” she stated.
She, however, declined to comment extensively on the matter, citing ongoing legal proceedings, but explained that the foreign currency in her possession was kept for practical reasons, noting that her children study abroad.
“It is important to have some foreign currency available for emergencies,” she said.
Speaking on the source of her wealth, Ms Achimugu maintained that her financial success is rooted in legitimate business ventures.
She disclosed that her company participated in oil block bidding rounds between 2022 and 2024 and emerged successful through what she described as a transparent process. Achimugu also dismissed suggestions that her success is tied to political connections.
Recall that Justice Emeka Nwite of the Federal High Court in Abuja affirmed the final forfeiture of $13 million linked to the Lagos socialite in March.
Justice Nwite had, on August 22, 2025, granted the anti-graft agency’s motion ex parte for an interim order forfeiting the sum of $13 million linked to Oceangate Ltd to the Federal Government over allegations that the fund was proceeds of unlawful activity.
The judge had then directed the commission to publish the order in a national daily for interested people to show cause within 14 days why the fund should not be permanently forfeited to the federal government.
In 2024, the businesswoman gained significant media attention for a seven-day birthday celebration in Grenada, which was attended by high-profile guests, reportedly including Lagos State Governor Babajide Sanwo-Olu.
The socialite also defended her widely publicised birthday celebration, noting that it had been “planned for 10 years” and was not funded with any money under investigation.