By OBSERVERS TIMES
The Economic and Financial Crimes Commission (EFCC) has made a significant breakthrough in its investigation of businesswoman Aisha Achimugu Sulaiman, uncovering a substantial cache of luxury items and cash at her Abuja residence. This development comes as the agency intensifies its efforts to locate a missing $250 million allegedly linked to Lagos State Governor Babajide Sanwo-Olu’s campaign funds.
Acting on a court-sanctioned warrant, EFCC operatives raided Achimugu’s property at No. 61 Hassan Usman Katsina Street, Abuja. The search yielded N30 million in cash, $50,000 in foreign currency, and an assortment of gold, diamond, and silver jewelry estimated to be worth over N1 billion. This discovery is a key element in the ongoing inquiry into suspected money laundering and the alleged misappropriation of political campaign funds.
Sources familiar with the investigation indicate that the $250 million under scrutiny was purportedly entrusted to Achimugu by Governor Sanwo-Olu for his anticipated 2027 campaign activities. Insiders claim the funds, intended for secure keeping, were allegedly transferred through numerous accounts and may have been mismanaged.
“The situation is more complex than it appears. Governor Sanwo-Olu reportedly placed $250 million in an account controlled by Aisha. There are allegations that she has mismanaged these funds and cannot account for their whereabouts,” a source close to the case revealed.
The EFCC has reportedly frozen 136 bank accounts associated with Achimugu across ten different financial institutions. Investigators have also identified over 20 companies registered under her name, many sharing virtually identical addresses, suggesting a potential network of shell corporations used for illicit fund movement.
Achimugu, who is currently believed to be in London, was previously summoned by the EFCC to appear at their Port Harcourt office on March 25, 2025. Her failure to comply with the summons has led the anti-graft agency to declare her officially wanted.
EFCC Nets N1B Jewelry, Cash in Aisha Achimugu Home Amid $250M Campaign Fund Probe
