The Court of Appeal in Port Harcourt has lifted an interim order that froze 124 bank accounts belonging to businesswoman Aisha Achimugu and firms linked to her, holding that keeping the ex parte order in place for more than 15 months was an abuse of the court process
A three-member panel comprising Justices Muhammad Ibrahim Sirajo, Ishaq Mohammed Sani and Eleojo Enenche delivered the unanimous judgment on Wednesday, setting aside the freezing order earlier issued by the Federal High Court on April 10, 2025.
The case stemmed from an appeal filed after the Economic and Financial Crimes Commission (EFCC) challenged the Federal High Court’s decision of August 27, 2025.
Justice Turaki Adamu had initially approved the EFCC’s ex parte request to freeze the 124 accounts connected to Achimugu, founder of Oceangate Engineering Oil & Gas Ltd, while directing banks to halt all outward transactions from the accounts.
Achimugu subsequently asked the court to nullify the order, insisting it was an abuse of court process. She further alleged that despite the freeze, the EFCC instructed SunTrust Bank in a letter dated April 24, 2025, to transfer money from one of the affected accounts into the CBN/EFCC recovery account.
Follow Us on Facebook – @LadunLiadi; Instagram – @LadunLiadi; Twitter – @LadunLiadi; Youtube – @LadunLiadiTV for updates
