Pat Stevens/
The Federal Capital Territory High Court in Apo, Abuja, has ordered the final forfeiture to the Federal Government of assets worth more than N8.9 billion linked to businesswoman, Aisha Achimugu, including luxury jewellery valued at over N4.6 billion and 11 exotic vehicles worth N4.3 billion.
Justice Jude Onwugbuzie granted the order on Thursday following an application by the Economic and Financial Crimes Commission (EFCC), bringing to a close forfeiture proceedings over the assets.
The forfeited assets comprise jewellery valued at N4,645,170,294.90, 11 exotic vehicles worth N4,293,000,000, $50,000 in cash and N30 million.
The order means ownership of the assets has now permanently passed to the Federal Government after the court was satisfied that the EFCC had established grounds for their forfeiture.
The anti-graft agency announced the development in a statement on Thursday, describing it as the final forfeiture of properties linked to Achimugu.
Asset forfeiture is one of the principal legal tools available to the EFCC in its anti-corruption campaign.
Under Nigerian law, courts may order the seizure and eventual forfeiture of assets found to be proceeds of unlawful activities or whose legitimate ownership cannot be satisfactorily established during judicial proceedings.
A final forfeiture order differs from an interim forfeiture, which is temporary and allows interested parties to challenge the seizure before a court makes a final determination.
Once a final order is granted, the assets become the property of the Federal Government unless overturned on appeal.
The latest ruling represents one of the most significant asset forfeitures secured by the EFCC in recent months, given the combined value of the jewellery and luxury vehicles involved.
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