Aisha Achimugu, founder of Oceangate Engineering Oil & Gas Ltd, says her millions didn’t come from Governor Babajide Sanwo-Olu — or any politician — but from 23 years of grinding in business.
Speaking Monday on Channels Television, Achimugu rejected claims that her wealth rides on political ties.
“I started my business in 2001. I come from a decent family background. My late husband was the MD of PPMCC. I met him while doing business with NNPC,” she said.
Asked point-blank if Sanwo-Olu or other power players bankrolled her rise, she replied: “Not at all.”
Achimugu burst into national conversation in January 2024 after a lavish seven-day 50th birthday bash in Grenada. The guest list — packed with Nollywood stars and political heavyweights, including Sanwo-Olu — set off speculation about her money.
She’s now in a legal fight with the EFCC. The anti-graft agency declared her wanted for alleged money laundering and arrested her at Nnamdi Azikiwe International Airport on April 29, 2025.
In March 2026, the Federal High Court in Abuja ordered final forfeiture of $13 million linked to her company. Justice Emeka Nwite ruled the EFCC proved the funds were proceeds of fraud. Oceangate has appealed.
Achimugu wouldn’t discuss the $13 million in detail, citing the case. But she again denied the cash was found in her home.
“My house was raided. Only $50,000 and N13 million belonging to my mother were found there, along with my personal belongings,” she said. “I don’t know where Nigerians got the impression that I had $13 million in my house. I’m not a bank.”
On the oil blocks awarded to Oceangate, she insisted the process was clean: “We went through a transparent and competitive bidding process.”
And on political access, she flipped the script — success brought connections, not the other way around.
“I have always had access to power and governance. I’m a known Nigerian. I have friends, and I have done well,” she said. “It’s important for me as a business owner to know people who can grow my portfolio. It is not about Governor Sanwo-Olu at all.”
Sanwo-Olu, she added, was just one of many guests at her birthday party.
From Grenada to the courtroom, Achimugu’s message is the same: she made her money before she made friends in power — not because of them.
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