Aisha Achimugu Rejects Claims Linking Her Wealth to Governor Sanwo-Olu

Lagos, Nigeria – Businesswoman and founder of Oceangate Engineering Oil & Gas Ltd, Aisha Achimugu, has denied allegations suggesting that her wealth is connected to Lagos State Governor Babajide Sanwo-Olu.

Speaking during an interview on Channels Television, Achimugu insisted that her business success predates her public association with political figures, stating that she has been an entrepreneur since 2001 and built her career independently.

According to Okay News, her comments come amid ongoing legal and financial scrutiny involving the Economic and Financial Crimes Commission (EFCC).

Public attention first intensified in January 2024 after Achimugu hosted a lavish seven-day 50th birthday celebration in Grenada, which was attended by Governor Sanwo-Olu. Months later, she was arrested by the EFCC at Nnamdi Azikiwe International Airport in Abuja on April 29, 2025.

In March 2026, a Federal High Court in Abuja, presided over by Justice Emeka Nwite, issued a final forfeiture order involving $13 million allegedly linked to her company. Achimugu has since confirmed that she has filed an appeal against the ruling.

Addressing claims about the funds, she disputed reports of large cash discoveries during investigations, saying only $50,000 and ₦13 million belonging to her mother were found in her residence. She dismissed suggestions of holding $13 million personally, stating, “I’m not a bank. I would not keep such an amount in my house.”

She also spoke about her connections in political and business circles, explaining that networking is part of her professional growth. However, she rejected claims of financial dependence on any political figure, including the Lagos governor.

“I’m an entrepreneur and business owner,” she said. “My relationships are part of building my portfolio, but this has nothing to do with Governor Sanwo-Olu.”

The case continues as legal proceedings and public debate around the forfeiture order remain ongoing.