Aisha Achimugu Insists Her Wealth Isn't Tied to Sanwo-Olu, Identifies as Self-Made Businesswoman

Aisha Achimugu, the founder of Oceangate Engineering Oil & Gas Ltd, has categorically denied that her wealth is a result of her association with Babajide Sanwo-Olu, the governor of Lagos State, emphasizing that she has been an entrepreneur since 2001.

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In a recent interview with Channels Television on Monday, Achimugu addressed the controversy surrounding her finances and the ongoing legal battle with the Economic and Financial Crimes Commission (EFCC), stating that she started her business in 2001 and comes from a decent family.

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She revealed that her late husband was the Managing Director of PPMCC, and she met him while doing business with the NNPC, highlighting that her background and experience have contributed to her success.

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When questioned directly about whether her wealth came from Sanwo-Olu or other influential friends, Achimugu responded with a firm "Not at all", distancing herself from any suggestions of impropriety.

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Achimugu's lavish seven-day 50th birthday celebration on the Caribbean island of Grenada in January 2024 drew national attention, with prominent figures from Nigeria's entertainment industry and political class in attendance, including Governor Sanwo-Olu, sparking public speculation about the source of her wealth.

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More than a year later, in April 2025, the EFCC declared her wanted over money laundering allegations and subsequently arrested her at Nnamdi Azikiwe International Airport, Abuja, on April 29, 2025.

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In March 2026, a federal high court in Abuja granted a final forfeiture order of $13 million allegedly linked to her firm, with presiding judge Emeka Nwite ruling that the EFCC had proven the funds were proceeds of fraud.

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Achimugu's firm has since commenced an appeal against the order, and when asked about the forfeited funds, she declined to comment specifically, citing the pending litigation.

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However, she firmly denied that the $13 million was found in her possession, stating that only $50,000 and N13 million belonging to her mother were found in her house and personal belongings during a raid.

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Achimugu expressed surprise that Nigeria would assume she had $13 million in her house, emphasizing that she is not a bank and would not keep such a large amount of money at home.

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Regarding the oil block held by Oceangate Engineering Oil & Gas Ltd, Achimugu explained that it was awarded to the company through a competitive and transparent bid process.

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Addressing her access to political power, Achimugu argued that her connections are a result of her success, not the cause, stating that she has always had access to power and governance as a known Nigerian entrepreneur.

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She emphasized the importance of knowing influential people to increase her business portfolio, but clarified that her relationships are not about Governor Sanwo-Olu specifically.

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Achimugu noted that the Lagos governor was simply one of the guests already present at the venue of her birthday celebration, downplaying any suggestion of a close or improper relationship.