By Odeh Favour Adiya
The CEO of Oceangate Engineering Oil & Gas Ltd, Aisha Achimugu, has formally denied allegations of money laundering and political patronage, insisting her wealth is the result of over two decades of independent entrepreneurship.
In a candid interview with Channels Television, Achimugu addressed the March 2026 Federal High Court ruling which ordered the final forfeiture of $13 million allegedly linked to her firm. She dismissed the narrative that her success is tied to her association with high-ranking officials, including Lagos State Governor Babajide Sanwo-Olu.
“I have been an entrepreneur since 2001,” she stated, clarifying that her business interests in the oil and gas sector were built on competitive bidding and industry expertise rather than political favors. She further disputed the findings of the EFCC, Achimugu asserted that the millions cited by the commission were never in her possession.
She clarified that the actual funds recovered were $50,000 and ₦13 million, which she maintained were for domestic use and her mother’s upkeep. “I am not a bank,” she remarked, confirming her firm has now moved to the Court of Appeal to overturn the order.
