Aisha Achimugu’s troubles have deepened as the Economic and Financial Crimes Commission, EFCC, intensifies its investigation into a major financial scandal involving the businesswoman who is currently at large.
This is as the EFCC recently discover luxury items and large sums of cash at her Abuja residence, linked to a missing $250 million.
Acting on a court-issued warrant, EFCC operatives raided Achimugu’s property located at No. 61 Hassan Usman Katsina Street, where they uncovered ₦30 million in cash, $50,000 in foreign currency, and several boxes filled with gold, diamond, and silver jewelry valued at over ₦1 billion.
The discovery forms part of a wider probe into allegations of money laundering and the mismanagement of political campaign funds.
Sources close to the investigation disclosed that the $250 million was allegedly entrusted to Aisha Achimugu by a governor to support preparations for election campaign.
Insiders allege the funds were intended for safekeeping but were instead moved across multiple accounts and may have been misappropriated.
“The issue is deeper than most people realize. The governor put himself in a mess by keeping $250 million in an account linked to Aisha. She has tampered with the funds and can no longer account for them,” a source familiar with the matter revealed.
The EFCC has since frozen 136 bank accounts associated with Achimugu across ten different banks.
Investigators also uncovered that she controls more than 20 companies registered with similar addresses—raising suspicions of a network of shell companies used to move illicit funds.
Achimugu who is the founder of Felak Concept Group was summoned by the EFCC to appear at its Port Harcourt office on March 25, 2025.
She failed to honor the invitation and is now officially wanted by the anti-graft agency.
