With $7M Cash Found in Nigerian Bank Vaults, Aisha Achimugu Is Now Under Criminal Investigation

With $7M Cash Found in Nigerian Bank Vaults, Aisha Achimugu Is Now Under Criminal Investigation

The Nigerian World.

The news as it trends.

In what some have called a shocking development in Nigerian money laundering investigation history, Nigerian authorities have uncovered $7 million in cash hidden in vaults at Providus Bank, allegedly linked to Aisha Achimugu, CEO of Ocean Gate Petroleum.

Already under investigation for a separate $12 million money laundering case, Achimugu now faces intensified scrutiny as the Economic and Financial Crimes Commission (EFCC) expands its probe.

Court filings reveal that over 130 bank accounts tied to Achimugu and her company have been frozen, flagged for suspicious foreign exchange transactions and unexplained inflows.

While she claims the funds were part of a legitimate bank loan, investigators say the evidence points to systemic laundering and abuse of financial channels.

Achimugu, originally from Ofu LGA in Kogi State, was once celebrated for her billion-dollar oil deals and high-profile lifestyle.

She operated out of Abuja, and was married to Sulaiman Akao Achimugu, who passed away in 2020.

The couple had three children.

This case has sparked national outrage and raised serious questions about Nigeria’s financial oversight.

As the EFCC tightens its grip, many wonder how deep the scandal goes and who else might be implicated.

Yetunde B reports for Yeyetunde’s Blog.