The Federal High Court in Abuja, fixed March 25 for ruling on an application filed by Economic and Financial Crimes Commission (EFCC) for final forfeiture order on $13 million linked to Aisha Achimugu’s Oceangate Engineering Oil & Gas Ltd.

The judge, Emeka Nwite, fixed the date on Tuesday after EFCC’s lawyer, Rotimi Oyedepo, a Senior Advocate of Nigeria and newly appointed Director of Public Prosecutions of the Federation, counsel for the company, Darlington Ozurumba, adopted their processes and presented their arguments for and against the case on Monday.

The judge, Mr Nwite had, on 22 August 2025, granted the anti-graft agency’s motion ex-parte for an interim order forfeiting the sum of $13 million linked to Oceangate Ltd to the federal government over allegations that the fund was a proceed of unlawful activity.

The judge then directed the commission to publish the order in a national daily for interested person(s) to show cause within 14 days why the fund should not be permanently forfeited to the federal government.

The EFCC investigator, Usman Aliyu, swore to an affidavit filed in support of EFCC’s application, stated that the commission received a credible intelligence report alleging that a company known as Oceangate Engineering Limited, without following due process, used funds reasonably suspected to be proceeds of unlawful activity to acquire oil blocks from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

Mr Aliyu said their investigation revealed that Oceangate, a limited liability company, was registered with the Corporate Affairs Commission (CAC) on 25 February 2005 with number: RC 617736.

He said in 2024, Oceangate participated in an oil block licensing bid for deep offshore PPL302 and shallow water- PPL 3007.

He said upon completion of technical and commercial bid, NUPRC notified the company of its winning bidder status and the condition precedent to be fulfilled before issuance of a licence to the company.

Mr Aliyu said it was discovered that the total financial obligations of Oceangate Ltd to the government before the issuance of the Petroleum Prospecting License (PPL) to the company was $37.2 million ($37, 223,144).

He said the company, through its Zenith Bank account number: 5074678281, at different installments, transferred millions of dollars to the federal government, in tranches: $1.1 million, $1.1 million, $3.8 million, $1.2 million, $3.05 million, $2.1 million, and $500, 000.

The investigator said that on 27 and 28 March 2025, Providus Bank Limited, acting for and on behalf of Oceangate Engineering Oil and Gas Limited, transferred the total sum of $7 million to the federal government.

He said his team recovered the evidence of these transactions through Providus Bank Limited from the Central Bank of Nigeria (CBN) through a letter dated June 24,02025.

He said the company between 20 March 2025 and 3 April 2025, paid the total sum of $20 million to the federal government for the acquisition of the PPL 302 and PPL 3007.

The officer alleged that to fulfil the requirements for payments of the signature bonuses for PPL 302 and PPL 3007, Oceangate conspired with some unlicensed Bureau de Change (BDC) operators and bank officials to retain and transfer funds totalling $13 million which funds are reasonably suspected to be proceeds of unlawful activity.

How firm raised millions of dollars outside banking system and Lagos govt connection – Investigator

The affidavit stated, “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.”

He alleged that the company equally procured Chiroma, Tirmizi Usman and Dantani Hassan to receive funds reasonably suspected to be proceeds of unlawful activities from different contractors with the Lagos State Government.

He said to receive and retain funds reasonably suspected to be proceeds of unlawful activity from different contractors with Lagos State, Dantani Abubakar used his company, Ashrab Energy and Oil Services Limited, with account number 1229255048 domiciled in Zenith Bank Plc.

“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,” the investigator added.

He said the combine sum of N2, 455, 651, 560.00 received in both Zenith and Access Bank accounts of Ashrab Energy were converted to US dollars and subsequently transferred same to Oceangate’s Zenith Bank account for onward payment for the signature bonus of the two oil blocks – PPL 302 and PPL 3007 allocated to the company, among other averment.

Mr Aliyu insisted that the $13 million used by Oceangate to pay for the Signature Bonuses in respect of PPL302 and PPL3007 were not proceeds of any lawful and legitimate business of Oceangate but rather represent funds reasonably suspected to be proceeds of unlawful activity.

According to him, part of the funds used by Oceangate Engineering Oil and Gas Limited to pay for the Signature bonuses in respect of PPL 302 & PPL 3007 was derived from the huge sum of money transferred by the Lagos State Government to the contractors for the execution of contracts for the benefit of the state.

The investigator alleged that there were never any contractual or business relationships between Oceangate and the contractors who transferred the aforementioned public funds to the account of the company (Oceangate Engineering).