The Economic and Financial Crimes Commission (EFCC) on Wednesday, March 25, commenced a probe into the Lagos state government under Governor Babajide
The Economic and Financial Crimes Commission (EFCC) on Wednesday, March 25, commenced a probe into the Lagos state government under Governor Babajide Sanwo-Olu, over the sum of $13 million traced from state contractors to businesswoman Aisha Achimugu.
The investigation follows a federal high court ruling in Abuja, which ordered the final forfeiture of the funds to the federal government.
According to investigators, the money was part of a larger sum used by Achimugu’s firm, Oceangate Engineering Oil & Gas Ltd, to fund the acquisition of two Petroleum Prospecting Licences (PPL), PPL 302 and PPL 3007, from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
Affidavits filed by the anti-graft agency revealed that over ₦2.4 billion was funneled through several intermediaries and converted into dollars, with the funds originating from accounts belonging to contractors executing projects for the Lagos state government.
A bureau de change operator, Suleiman Muhammed Chiroma, was recruited by Oceangate to collect the funds in cash entirely outside formal financial channels across Abuja and Lagos.
Chiroma worked with two associates identified as Dantani Abubakar Hassan of Ashrab Energy and Oil Services Limited, and Tirmizi Muhammed Usman of Tripple A & Tee Oil Nigeria Limited.
According to the EFCC, Ashrab Energy received over ₦855 million from Lagos state contractors through accounts domiciled in both Zenith Bank and Access Bank.
The combined sum received across both accounts amounted to over ₦2.4 billion, which was subsequently converted to dollars and transferred to Oceangate’s account for the signature bonus payments.
The commission noted that there was no legitimate contractual or business relationship between Oceangate and the contractors who transferred the funds.
In a counter-affidavit sworn by Oceangate’s director, Iliya Wakil, the firm maintained that Chiroma was a licensed bureau de change operator lawfully engaged to source the dollars required for the signature bonus payments and that he acted independently without direction from Oceangate.
The firm also denied any knowledge of or dealings with Dantani Hassan, Ashrab Energy, Tirmizi Usman, or Tripple A & Tee Oil Nigeria Limited.
The investigation has brought renewed scrutiny to the relationship between Sanwo-Olu and Achimugu, particularly following his attendance at her 50th birthday celebration on the Caribbean island of Grenada in January 2024.
In October 2024, Sanwo-Olu filed a lawsuit seeking to prevent the EFCC from investigating him, requesting a court declaration that any threat of his arrest or detention would be unconstitutional.
He also asked for an order to bar the commission from harassing, arresting, or detaining him in connection with his administration.
