Court orders final forfeiture of $13m linked to Oceangate Engineering
A Federal High Court in Abuja has ordered the final forfeiture of 13 million dollars linked to Oceangate Engineering Oil and Gas Ltd, a company associated with businesswoman Aisha Achimugu. Justice Emeka Nwite granted the request by the Economic and Financial Crimes Commission for the money to be permanently forfeited to the Federal Government. In his ruling, Justice Nwite held that neither Oceangate Engineering nor Achimugu was able to prove that the 13 million dollars was legitimately earned. He said there was no credible evidence before the court to support their claim that the funds came from gifts and earnings from oil and gas contracts. The judge rejected arguments by Oceangate’s lawyer, Darlington Ozurumba, who had insisted that the money was lawfully acquired. Ozurumba had argued that the funds were derived from personal gifts to Achimugu and proceeds of genuine […]
