The founder of Oceangate Engineering Oil & Gas Ltd., Aisha Achimugu, has insisted that she has been an entrepreneur since 2001 and denied that her riches was based on her connection to Lagos State Governor Babajide Sanwo-Olu.
Amidst the current legal dispute with the Economic and Financial Crimes Commission (EFCC) and the ballooning issue surrounding her finances, Achimugu made the denial in an interview with Channels Television on Monday.
“In 2001, I launched my company. I come from a respectable household. The MD of PPMCC was my late husband. During the work, I got to know him. In fact, I met him while conducting business at NNPC,” she remarked.
She said, “Not at all,” when asked explicitly if Sanwo-Olu or any of her powerful friends provided the money.
When the businesswoman threw a seven-day 50th birthday celebration on the Caribbean island of Grenada in January 2024, she gained widespread recognition.
Prominent members of Nigeria’s political and entertainment elite attended the extravagant celebration, including Governor Sanwo-Olu, which raised questions about the source of her riches.
Over a year later, on April 29, 2025, she was arrested at Nnamdi Azikiwe International Airport in Abuja after the EFCC declared her wanted on charges of money laundering.
A federal high court in Abuja issued a final forfeiture order for $13 million purportedly connected to her company in March 2026.
The EFCC has demonstrated that the money was the proceeds of fraud, according to presiding judge Emeka Nwite. Since then, Achimugu’s company has filed an appeal against the ruling.
Achimugu firmly disassociated herself from the story that the money was discovered in her possession, but she refused to provide details on the seized assets, citing the ongoing legal proceedings.
“My home was broken into. In my home and personal stuff, only $50,000 and N13 million that belonged to my mother were discovered,” she stated.
“I have no idea how Nigeria came to believe that I have $13 million in my home. I’m not a financial institution. I refuse to retain $13 million in my home.
Achimugu stated that the oil block owned by Oceangate Engineering Oil & Gas Ltd. was given to
In response to Sanwo-Olu’s attendance at her birthday, which demonstrated her well-established access to political power, Achimugu contended that her connections were a result of her success rather than its source.
“Power and governance have always been available to me. I’m a well-known Nigerian. I’ve done well, and I have friends. She declared, “I haven’t done anything to make people avoid me.”
“I own a business and am an entrepreneur. It is really crucial to me to know who will expand my portfolio. It has nothing to do with Governor Sanwo-Olu.
The governor of Lagos was just one of the guests already present at the celebration site, she continued.