Nigerian courts have ordered the final forfeiture of billions of naira worth of assets linked to former Attorney-General of the Federation Abubakar Malami and businesswoman Aisha Achimugu, marking two of the country’s biggest civil asset recovery rulings in recent years. The decisions followed applications by the Economic and Financial Crimes Commission (EFCC), which argued the properties were proceeds of unlawful activities.
In Abuja, Justice Joyce Abdulmalik of the Federal High Court ordered the final forfeiture of 48 properties linked to Malami after ruling that the EFCC established reasonable suspicion that the assets were acquired through illicit means.
The properties include a luxury duplex in Abuja, a university campus, an agro-allied factory and several other high-value assets spread across northern Nigeria. The court held that Malami and other respondents failed to satisfactorily explain the legitimate source of the funds used to acquire the properties.
In a separate ruling, an FCT High Court sitting in Apo ordered the permanent forfeiture of more than ₦8.9 billion in assets linked to Aisha Achimugu. The assets include jewellery worth ₦4.65 billion, 11 exotic vehicles valued at ₦4.29 billion, $50,000, and ₦30 million in cash.
Justice Jude Onwuegbuzie ruled that Achimugu failed to prove the assets were lawfully acquired after the EFCC traced suspicious financial transactions through more than 130 bank accounts linked to her. The forfeited assets are now vested in the Federal Government.
