The Federal High Court in Abuja on Wednesday ordered the Economic and Financial Crimes Commission to within 24hrs release socialite and business woman, Aisha Achimugu.

Justice Inyang Ekwo in a short ruling also added that parties in the suit especially the EFCC are to report to the court to give report on compliance to the order of court on May 2, 2025.

Recall that Justice Ekwo had on Monday, ordered Achimugu to submit herself to the Economic and Financial Crimes Commission in connection with an on going investigation bordering on Money laundering and other offences.

Justice Ekwo, also held that following her appearance at the EFCC office, the antigraft agency is to return with her and make an appearance before the court on Wednesday April 30, for report.

Meanwhile, the EFCC arrested Achimugu at about 5am on Tuesday at the Nnamdi Azikiwe International Airport.

The EFCC is investigating Achimugu on a case involving conspiracy, obtaining money by false pretence, money laundering, corruption, and possession of properties reasonably suspected to have been unlawfully obtained.

While she was previously arrested and questioned by the EFCC, she was released on administrative bail by the commission.

However, EFCC alleged that she jumped bail and declared Achimugu wanted.

The EFCC in a press statement urged the public to provide information about Achimugu’s whereabouts, “The public is hereby notified that AISHA SULAIMAN ACHIMUGU is wanted by the Economic and Financial Crimes Commission in an alleged case of criminal conspiracy and money laundering,” the statement read.

The EFCC in its affidavit to show cause, averred that on February 12, 2024, when Achimugu was previously arrested, in their office with her lawyer, Darlington Ozurumba, she wrote a statement.

The commission said in the statement, that she explained some of the huge funds which passed through her corporate bank accounts.

It said that Achimugu admitted the sum of N8, 710, 000, 000.00. (eight billion, seven hundred and ten million naira) was paid by her partners as an investment fund into the purchase and payment of a signature bonus for the acquisition of oil bloc on Nov. 8, 2022.

It said further investigation however revealed that Achimugu, through her company, Ocean Gate Engineering Oli and Gas Limited, acquired two oil blocs, namely Shallow Water -PPL 3007 and Deep Offshore-PPL 302-DO for the total sum of $25, 300, 000 (twenty-five million, three hundred thousand dollars) through majorly cash payments made to the Bureau De Change (BDC) operators who in turn made payments to Federal Government via corporate accounts.

The commission alleged that the ultimate sources of the said sum of $25,300,000 used in the acquisition of the oil blocs were not linked to her lawful earnings or income or any business partner.

A prominent business executive and socialite, Aisha Sulaiman Achimugu, has been “arrested” by operatives of the Economic and Financial Crimes Commission (EFCC), according to her legal team.

Chikaosolu Ojukwu, SAN, made this known in a statement to Nairametrics on Tuesday, stressing that “Aisha Achimugu, who arrived voluntarily into the country from London, was arrested by the EFCC” around 5 a.m. on Tuesday.

Nairametrics previously reported that Achimugu’s lawyer had informed the Federal High Court in Abuja on Monday that their client had already stated in her court documents that she would visit the EFCC today in connection with its ongoing investigation into an alleged case of criminal conspiracy and money laundering.

Source: Nairametrics

A Federal High Court in Abuja has authorised the Economic and Financial Crimes Commission (EFCC) to arrest and detain six promoters of Crypto Bridge Exchange (CBEX) over an alleged investment fraud amounting to over one billion dollars.

Justice Emeka Nwite, who issued the order on Thursday after the EFCC’s lawyer, Fadila Yusuf, moved an ex-parte motion, stated that the detention would be pending the conclusion of the investigation into the alleged offenses and possible prosecution.

“I have listened to the submission of the learned counsel for the applicant (EFCC). I have also reviewed the affidavit evidence, including the exhibits, along with the written address. I am of the view and I so hold that the application is meritorious. Consequently, the application is granted as prayed,” the judge held.

The six suspects listed as the 1st to 6th defendants are Adefowora Abiodun Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, Seyi Oloyede, Avwerosuo Otorudo, and Chukwuebuka Ehirim.

In the ex-parte motion filed on April 23 by Yusuf, the EFCC sought an order from the court to issue warrants of arrest for the defendants and an order remanding the defendants in custody pending the conclusion of the investigation into the alleged offenses and possible prosecution.

The lawyer stated four grounds for the motion, noting that the EFCC has a statutory duty to prevent and detect financial crimes through investigation. She also mentioned that there was intelligence received by the office of the commission’s chairman regarding the defendants, concerning various criminal offenses.

She said: “The defendants are at large, and a warrant of arrest is required to apprehend them for proper investigation and prosecution of this case.”

In the affidavit supporting the motion, the EFCC stated that in April 2025, it received intelligence about an alleged investment scheme fraud involving the defendants.

It was alleged that the defendants and their company, ST Technologies International Limited, in collaboration with another company, Crypto Bridge Exchange (CBEX), orchestrated the fraud. The case was assigned to the EFCC’s Cybercrimes Section for investigation.

The agency revealed that preliminary investigations into the intelligence revealed:
“That Messrs. Adefowora Abiodun Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, and Seyi Oloyede, through their company, ST Technologies International Limited, promoted another company, Crypto Bridge Exchange (CBEX), by advertising and luring unsuspecting members of the public to invest in cryptocurrencies on the CBEX investment platform.”

The EFCC also stated that the defendants promised unrealistic returns of up to 100% on investments.
“That the victims were made to convert their digital assets into USDT stablecoin for deposit into the suspects’ crypto wallet.
“That the victims were initially given full access to the platform to monitor their investments. However, following deposits worth over $1 billion by the victims, the CBEX investment platform became inaccessible, and they could no longer withdraw their investments.
“That the victims later discovered that the scheme was a scam.”

During the investigation, it was discovered that although ST Technologies International Limited was registered with the Corporate Affairs Commission (CAC), it was not registered with the Securities and Exchange Commission (SEC) for investment purposes.

The EFCC also uncovered that the defendants had moved out of their last known addresses in Lagos and Ogun states. The agency added that a warrant of arrest was necessary to place the defendants on a red watch list so they could be traced and apprehended to face the charges against them.

According to the commission, the investigation into the allegations revealed a prima facie case of investment fraud, and it would be in the interest of justice to grant the application.