Aisha Achimugu: More Facts on Mystery $7m In Providus Bank
THECONSCIENCE NG reports that the Federal High Court in Lagos has ordered the permanent forfeiture of $7 million (₦11.2 billion) to the Federal Government after the money was found hidden in Providus Bank’s vaults under suspicious circumstances, reports Thecitypulsenews.
The cash, deposited in raw dollars at the bank’s Victoria Island headquarters in March 2025, bypassed customer accounts entirely — a move investigators described as highly unusual. The EFCC swooped in after a whistleblower tipped off the agency, leading to arrests of some staff.
The funds were later linked to Abuja socialite and businesswoman Aisha Achimugu, CEO of Ocean Gate Petroleum. She denied ownership, claiming it was a loan she collected from the bank. But after public notices went unanswered, no claimant came forward.
Justice Emeka Nwite, granting the EFCC’s application on Monday, ruled that the suspicious funds be forfeited to the Federal Government.
This is not Achimugu’s first controversy. She is already entangled in a separate $12 million money-laundering case involving top executives of SunTrust Bank. She was also briefly declared wanted earlier this year before being arrested and released on bail.
With the new ruling, the mystery cash is now officially government property.
