Nigerian businesswoman and socialite, Aisha Achimugu, who made headlines in 2024 for her extravagant week-long birthday party on Calivigny Island, is now at the center of a major fraud investigation led by the Economic and Financial Crimes Commission (EFCC).
According to court filings obtained by The Africa Report, the EFCC alleges that Achimugu laundered $25.3 million of unexplained funds through bureau-de-change operators to purchase two offshore petroleum blocks — PPL 3007 and PPL 302-DO — and to allegedly bribe officials at the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). While the petroleum regulator denies any wrongdoing, the oil blocks, awarded in 2024, remain undeveloped.
In a second, even larger case, the EFCC has linked Achimugu to the collapse of MBA Trading and Capital Investment Limited, a firm whose founder, Maxwell Odum, is currently on the run after allegedly defrauding investors of over N200 billion (approximately $125 million). The Commission traced large payments from MBA Trading into accounts controlled by Achimugu’s companies — Felak Concept Group and Oceangate Engineering Oil and Gas.
During a March 13 search of her Abuja residence, investigators reportedly seized N30 million in cash, $50,000 in foreign currency, and boxes containing gold, silver, and diamonds valued at over N1 billion. The EFCC also claims to have uncovered 136 bank accounts linked to her across 10 banks.
Achimugu, widowed in 2020 following the death of her husband, Nigeria’s first recorded COVID-19 fatality, has rejected the allegations, asserting that all financial transactions stemmed from legitimate business activities. Her legal team has accused the EFCC of embarking on a "fishing expedition" and has filed a rights suit in Abuja seeking to prevent her arrest and recover the valuables seized during the raid. The case is scheduled for hearing in May.
Her taste for luxury first drew public attention in January 2024 when she rented Calivigny Island in Grenada — reportedly at $132,000 per night — to celebrate her birthday, complete with private jets, yachts, and luxury fashion items.
Following her initial attendance at an EFCC interview, Achimugu left Nigeria and has since ignored a second summons, prompting the Commission to declare her wanted on March 28. Extradition efforts, if necessary, may face significant hurdles in Nigeria's often slow judicial system.
As EFCC Chairman Ola Olukoyede intensifies efforts to project a tougher anti-corruption stance, the outcome of this high-profile investigation will be closely watched by the public, investors defrauded in the MBA Ponzi scheme, and international observers alike.
.png)
0 Comments