A Nigerian businesswoman, Aisha Achimugu, has refuted allegations that her wealth is tied to her relationship with Babajide Sanwo-Olu, governor of Lagos State.
Speaking during an interview on Channels Television, Achimugu, who is the founder of Oceangate Engineering Oil & Gas Ltd, stated that her business journey began in 2001, long before her association with prominent political figures.
She had earlier attracted public attention in January 2024 after hosting an elaborate seven-day 50th birthday celebration in Grenada, attended by top Nigerian entertainers and dignitaries, including Sanwo-Olu.
However, her name later surfaced in investigations by the Economic and Financial Crimes Commission (EFCC), which declared her wanted over alleged money laundering. She was subsequently arrested in April 2025 at the Nnamdi Azikiwe International Airport, Abuja.
In March 2026, a federal high court in Abuja ordered the final forfeiture of $13 million linked to her and her company. The presiding judge ruled that the funds were proceeds of fraud, though her firm has since initiated an appeal against the decision.
Addressing claims surrounding the forfeited funds, Achimugu maintained that the money was not discovered in her residence, clarifying that only $50,000 and N13 million belonging to her mother were found during a raid.
“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 her business success, she explained that her company secured its oil block through a “competitive and transparent” bidding process, dismissing suggestions of political favouritism.
She also noted that her interactions with influential individuals are a result of her professional standing and network, not dependency.
“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.
When directly asked if her wealth was linked to Sanwo-Olu or any associate, she responded, “not at all”.