The Federal High Court in Abuja has fixed March 25 for ruling on an application filed by the Economic and Financial Crimes Commission seeking a final forfeiture order on the sum of $13 million allegedly linked to Aisha Achimugu’s Oceangate Engineering Oil & Gas Limited.
Justice Emeka Nwite adjourned the matter on Tuesday after counsel to the EFCC, Rotimi Oyedepo, SAN, and lawyer to the company, Darlington Ozurumba, adopted their respective processes and advanced arguments for and against the application on Monday.
Justice Nwite had earlier, on August 22, 2025, granted the EFCC’s ex-parte application for an interim forfeiture of the $13 million to the Federal Government, following allegations that the funds represented proceeds of unlawful activity, according to News Agency of Nigeria.
The court subsequently ordered the anti-graft agency to publish the interim forfeiture order in a national daily, inviting interested persons to show cause within 14 days why the funds should not be permanently forfeited to the Federal Government.
In an affidavit supporting the application, an EFCC investigator, Usman Aliyu, said the commission received credible intelligence alleging that Oceangate Engineering Limited acquired oil blocks without due process, using funds reasonably suspected to be proceeds of unlawful activity. He stated that the funds were allegedly used to purchase oil blocks from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
Aliyu disclosed that investigations showed Oceangate was incorporated as a limited liability company with the Corporate Affairs Commission (CAC) on February 25, 2005, under registration number RC 617736.
According to him, the company participated in the 2024 oil block licensing round for Deep Offshore PPL 302 and Shallow Water PPL 3007 and was subsequently declared the successful bidder, subject to meeting certain conditions before the issuance of the licences.
He said findings revealed that Oceangate’s total financial obligations to the Federal Government prior to the issuance of the Petroleum Prospecting Licences amounted to $37,223,144.00.
The investigator stated that the company, through its Zenith Bank account number 5074678281, paid several sums to the Federal Government in installments, including $1.1 million, $1.1 million, $3.8 million, $1.2 million, $3.05 million, $2.1 million and $500,000.
Aliyu further said that on March 27 and 28, 2025, Providus Bank Limited, acting on behalf of Oceangate Engineering Oil and Gas Limited, transferred a total of $7 million to the Federal Government. He added that evidence of these transactions was obtained through Providus Bank from the Central Bank of Nigeria (CBN) via a letter dated June 24, 2025.
He said between March 20 and April 3, 2025, Oceangate paid a total of $20 million to the Federal Government for the acquisition of PPL 302 and PPL 3007.
Aliyu alleged that to meet the requirements for payment of the signature bonuses for the oil blocks, Oceangate conspired with unlicensed Bureau de Change (BDC) operators and some bank officials to retain and transfer funds amounting to $13 million, which he said were reasonably suspected to be proceeds of unlawful activity.
“That one Suleiman Muhammed Chiroma was procured and aided by Oceangate Engineering Oil and Gas Limited to collect through his associates in cash and without going through a financial institution, both in Abuja and Lagos the total sum of $13,000,000.00.
That whilst acting in concert with Oceangate Limited, Muhammed Chiroma engaged one Dantani Abubakar Hassan of Ashrab Energy and Oil Services Limited and one Tirmizi Muhammed Usman of Tripple A & Tee Oil Nigeria Limited, to collect the said $9 million in cash and without going through a financial Institution for the sole purpose of using same to pay for the signature bonuses of the two oil blocks allocated to Oceangate Oil and Gas Limited.”
Aliyu further alleged that Oceangate also procured Chiroma, Tirmizi Usman and Dantani Hassan to receive funds reasonably suspected to be proceeds of unlawful activities from contractors working for the Lagos State Government.
According to him, Dantani Abubakar used Ashrab Energy and Oil Services Limited, with Zenith Bank account number 1229255048, to receive funds suspected to be unlawful proceeds from Lagos State contractors.
“That whilst still working in concert with Oceangate Engineering Oil and Gas Limited and Suleiman Chiroma, Dantani Abubakar used his company, Ashrab Energy and Oil Services Limited with account Number 1907084038 domiciled in Access Bank Plc to receive and retain the total sum of N855,057,560.00 from different contractors executing contracts for and on behalf of the Lagos State Government which sum reasonably suspected to be proceeds of unlawful activity.”
He added that a combined sum of N2,455,651,560.00 received through Zenith and Access Bank accounts of Ashrab Energy was converted to dollars and transferred to Oceangate’s Zenith Bank account for payment of the signature bonuses for PPL 302 and PPL 3007.
Aliyu maintained that the $13 million used to pay the signature bonuses was not derived from any lawful business activity of Oceangate but rather constituted funds reasonably suspected to be proceeds of unlawful activity.
He said part of the funds allegedly originated from payments made by the Lagos State Government to contractors for the execution of public projects.
The investigator further alleged that there were no contractual or business relationships between Oceangate and the contractors who transferred the funds, adding that the contractors were neither investors, directors nor shareholders in the company.
Aliyu said he deposed to the affidavit in good faith and urged the court to grant the application in the interest of justice and public policy.
In response, Oceangate filed an affidavit to show cause, deposed to by one of its directors, Iliya Wakil, stating that he became aware of the interim forfeiture order on the company’s $13 million used to pay the signature bonuses for PPL 302 and PPL 3007.
Wakil urged the court to refuse the final forfeiture application, arguing that the funds were partly derived from the company’s legitimate earnings and partly from gifts given to its Group Chief Executive Officer, Dr Aisha Achimugu.
He denied allegations that the company conspired with unregistered BDC operators or bank officials to retain or transfer funds linked to unlawful activity.
Wakil contended that Suleiman Chiroma, mentioned by the EFCC, was a licensed BDC operator lawfully engaged by the company to source dollars needed to pay the signature bonuses, as required by the Federal Government.
He said Chiroma acted independently and without control from Oceangate, adding that the company had no knowledge of Dantani Hassan, Ashrab Energy and Oil Services Limited, Tirmizi Usman or Tripple A & Tee Oil Nigeria Limited.
According to him, Oceangate never transacted with the individuals or companies referenced in the EFCC’s affidavit and relied solely on Chiroma’s professional expertise. He added that all naira funds exchanged for dollars were from legitimate sources, attaching the company’s audited accounts as exhibits.
Oceangate, through a motion on notice, also asked the court to set aside the interim forfeiture order, arguing that it was made without jurisdiction and in violation of its right to fair hearing.
However, the EFCC opposed the application, urging the court to dismiss it. In a counter-affidavit, Aliyu stated that Wakil was merely a nominal director of Oceangate without any shareholding.
He added that Wakil was an employee of Felak Concept Group Limited, also owned by Achimugu, and incorporated on May 5, 2000. According to Aliyu, Wakil admitted in an extra-judicial statement dated April 15, 2025, that he had worked with Felak Concept since 2000 and had held various managerial positions.
Aliyu said Wakil further admitted that he received his salary from Felak Concept and WishWhich Koncept Limited and that there was no record of him being paid by Oceangate.
The investigator also alleged that Wakil admitted receiving instructions from Achimugu, which he relayed to Chiroma, and described Oceangate as “a briefcase/shell company created as a vehicle for the purpose of holding petroleum related assets procured with funds reasonably suspected to be proceeds of unlawful activity.”
He added, “Hence, describing the company as ‘a professional oil and gas consortium, operating in diverse sectors of the oil and gas sectors of the Nigerian economy,’ is nothing but describing the devil as an angel of light.”
Aliyu alleged that Oceangate’s modus operandi was to acquire petroleum assets with tainted funds and maintained that the $13 million was not traceable to any legitimate income of the company.
He further claimed that Oceangate procured an auditor, Godwin Ukah, to prepare an audit report attached to its affidavit, noting that Ukah later admitted he did not review the company’s bank statements and that Oceangate had not actively earned income from oil and gas exploration.
