Detained businesswoman, Aisha Achimugu, remains in the custody of the Economic and Financial Crimes Commission (EFCC) as she is yet to meet bail conditions related to her alleged involvement in an ₦8.71 billion oil bloc transaction.
The anti-graft agency disclosed over the weekend that the two sureties initially presented by Achimugu failed to satisfy the bail requirement of owning landed property within Abuja.
A senior EFCC official, who spoke on condition of anonymity, confirmed to The Nation that two new sureties were produced on Friday and would undergo verification on Monday.
“Aisha is still in detention until she meets the bail conditions. The court mandated the EFCC to set those conditions, and we asked for two sureties with landed property in Abuja. The sureties provided earlier did not meet the terms,” the source said.
“She has brought two new sureties. If they also fail to meet the conditions, she will remain with us,” the official added.
EFCC Probes ₦8.71bn Inflow, 136 Bank Accounts
Beyond bail concerns, EFCC investigators are also probing how Achimugu came to operate a staggering 136 bank accounts, both personal and corporate, across 10 banks.
According to a deposed affidavit by EFCC investigator Chris Odofin, Achimugu is being investigated for conspiracy, money laundering, obtaining money by false pretence, and possession of suspicious assets.
The EFCC declared Achimugu wanted in March 2025 and arrested her weeks later.
The commission is currently scrutinising a purported ₦8.71 billion inflow into her company accounts, which she allegedly claimed was “investment funding” for the acquisition of oil blocs.
She maintained that the funds were paid into the Federal Government’s account via her company, Oceangate Engineering Oil and Gas Limited, citing documentation from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
However, EFCC investigations revealed that Achimugu’s company successfully acquired two oil blocs — Shallow Water PPL 3007 and Deep Offshore PPL 302-DO — at the cost of $25.3 million.
The payments were allegedly routed through several bureau de change operators, raising red flags over the transparency and source of funds involved.
“We are looking into the origin of the funds used for these acquisitions. So far, the acquisition process itself is being examined for lack of transparency,” the EFCC source said.
The EFCC’s probe is expected to intensify this week, with investigators set to trace financial flows and verify the legal status of all associated accounts and transactions.