A Federal High Court in Abuja has scheduled ruling for March 25 on a motion filed by Economic and Financial Crimes Commission (EFCC) for the final forfeiture of $13million being claimed Oceangate Engineering Oil & Gas Ltd, a firm being associated with businesswoman, Aisha Achimugu
Justice Emeka Nwite chose the date on Monday after EFCC’S lawyer, Rotimi Oyedepo (SAN) and Oceangate’s lawyer, Darlington Ozurumba made their final submissions.
The court had last year, issued an order for the interim forfeiture of the funds, which the EFCC claimed were proceeds of unlawful activities.
It ordered the commission to publish the interim order in a national daily for any interested party to show cause why the money should not be permanently forfeited to the Fed Govt.
In response to the publication, Oceangate filed an affidavit to show cause, claiming ownership of the money and among others, rejected EFCC’s allegation that the funds formed proceeds of unlawful activities.
Oceangate claimed that the funds were legitimately sourced for the payment for its interest in two oil licences – PPL 302 and PPL 3007 – which it won sometime in 2024.
The EFCC, in its response to Oceangate’s affidavit to show cause, gave details of its investigation, which it claimed, revealed that the $13m was from unlawful sources.
The commission also claimed that part of the money was contributed by contractors engaged by the Lagos State Government.
On September 15, 2025 the same court granted similar motion by the EFCC for the final forfeiture of $7m which claimed to have recovered in Providus Bank branch in Ikoyi Lagos, but which nobody came forward to claim.
A company, Felak Group later issued a statement to dismiss reports linking its Chief Executive Officer, Dr Aisha Achimugu and its subsidiary, Oceangate Engineering Oil & Gas, to a controversial $7 million cash transaction allegedly tied to Providus Bank.
In its response to Oceangate’s affidavit to show cause, the EFCC said: “In the course of our investigation, we found that Iliya Wakil, the deponent of the respondent’s affidavit to show cause, was a mere nominal director with no shareholding of Oceangate Engineering Oil and Gas Limited and an employee of Felak Concept Limited, a company incorporated on May 5, 2000.
“On the 31st day of March 2014, a company known as Felak Concept Group Limited, with registration No 1181455 was incorporated at the Corporate Affairs Commission by Felak Concept Limited, Altex Engineering Oil and Gass Limited, Wishwhich Koncept Limited, Ay-Dol International Limited, and Oceangate Engineering Oli & Gas as shareholders.
“Iliya Wakil admitted, in his extrajudicial statement to my team on 15th April, 2025 that: ‘I have worked with Felak Concept from 2000 to date and have held so many positions, among which are Manager Admin, General manager Admin and Finance and presently Group General Manager Admin and Finance.’
“Iliya Wakil, the deponent in the respondent’s affidavit to show cause, stated that he had consistently drawn his monthly salary from his known employer Felak Concept Group Limited and WishWhich Koncept Limited. There is no record of Iliya Wakil drawing salary from Oceangate Engineering Oil & Gas.
“Iliya Godiya Wakil admitted in his extra judicial statement that he got all his instruction from the Group Chief Executive Officer, (GCEO) Dr. Aisha Achimugu Sulaiman and he in turn gave same instructions to Chiroma via telephone conversation.
“Oceangate Engineering Oll and Gas Limited is 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.
“Hence describing the company as ‘a professional oll 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.
“The acquisition of its interest in PPL 302 and 3007 with funds reasonably suspected to be proceeds of unlawful activity is a clear demonstration of the modus operandi of the respondent (Oceangate) in acquiring petroleum-related assets with tainted funds.
“The $13,000,000 (Thirteen million United States dollars) forfeited in the interim by this court to the Federal Government of Nigeria was not proceeds of any lawful, legitimate, provable, known and justifiable income of the respondent (Oceangate), rather the fund is reasonably suspected to proceeds of unlawful activity,” it said.
The EFCC, while revealing how Oceangate came about the two oil licences, said: “Sometimes in 2024, OceanGate Engineering Oil and Gas Limited participated in an oil block licensing bid for deep offshore -PPL302 and shallow water -PPL 3007.
“Upon the completion of the technical and commercial bid exercise, Oceangate Engineering Oil and Gas Limited vide a letter dated 29th January, 2025 was notified by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) of its winning bidder status as well as the condition precedent to be fulfilled before issuance of a licence to the company.
“The total financial obligations of Oceangate Engineering Oil and Gas Limited to the Federal Government before the issuance of the Petroleum Prospecting License (PPL) to Oceangate Engineering Oil and Gas Limited was $37,223,144.00.”
The EFCC stated that $13,000,000, in respect of which it currently seeks a permanent forfeiture order to “were transferred to the Oceangate’s account domiciled in Zenith Bank Pic in tranches by Ashrab Energy and Oil services Ltd, Tripple A and Tee Oil Nig Ltd, Code Crafter Tech Ltd, Overcliffe Energy Solutions and Prism 24 Oil and Gas.
“Ashrab Energy and Oil services Ltd, Tripple A and Tee Oil Nig Ltd, Code Crafter Tech Ltd, Over cliffe Energy Solutions and Prism 24 Oil and Gas, who transferred these funds to the Oceangate’s Zenith Bank account are neither investors in the business of oil and gas nor into any legal and legitimate contractual business relationship with Oceangate Oil and Gas.
“Neither Oceangate Engineering Oil and Gas Limited nor the Group Chief Executive Officer (GCEO) Dr. Aisha Achimugu Sulaiman also rendered any lawful or legitimate services to Ashrab Energy and Oil services Ltd, Tripple A and Tee Oil Nig Ltd,Code Crafter Tech Ltd, Overcliffe Energy Solutions and Prism 24 oil and gas to have legitimized the payment of the whopping sum of thirteen million United States dollars, which was retained and subsequently transferred by the respondent for the acquisition of its interest in PPL 302 and PPL 3007.
“Ashrab Energy and Oil services Ltd, 4 oe A and Tee Oil Nig Ltd,Code Crafter Tech Ltd, Overcliffe Energy Solutions and Prism 24 Oil and Gas who paid this whooping fund sought to be forfeited into the respondent accounts are not all licensed Bureau de Change (BDC) entities in foreign exchange.
“There is no single transfer of legitimate funds whether in naira or foreign exchange from Oceangate Engineering Oil and Gas Limited’s bank account to the aforementioned companies who transferred the funds sought to be forfeited to the respondent’s account.
“Oceangate Engineering Oil and Gas Limited neither sold any petroleum-related product nor rendered any related oil and gas sundry services to the aforementioned companies, other than being used as a vehicle for concealing and disguising the reasonably suspected unlawful origin of the funds now sought to be forfeited.
“In a desperate bid to make the instant/unlawful transaction look legitimate, Oceangate Oil and Gas, whilst working in concert with its Group Chief Executive Officer (GCEO), procured different proforma invoices wherein it was claimed that Ashrab Energy Oil Service Ltd, Tripple A and Tee Oil Nig Ltd, and Prism 24 Oil and Gas ,who paid this whooping fund invested in the acquisition of oil and gas assets.
“Furthermore, Oceangate Oil and Gas, in its desperate bid to conceal the reasonably suspected unlawful origin of the fund now sought to be forfeited, by letters dated 4th and 6th March, 2025 respectively, signed by one Mbaike Uzomato, the managing director,Tripple A and Tee Oil Nig Ltd and Ashrab Energy Oil Service Ltd respectively, purported that Oceangate Oil and Gas Limited requested a debt financing facility of $10,000,000 USD each from these companies to enable Oceangate meet the commercial terms and conditions for the acquisition of PPL302 and PPL3007,” which representation, the EFCC said its investigating team found to be false.
It added that the investigating team equally recovered the WhatsApp conversation between the Group Chief Executive Officer (GCEO) of Oceangate and one Sulaiman Chiroma showing how this false document was prepared.
The EFCC claimed that “all the funds transferred by Ashrab Energy Oil and Gas Limited to Oceangate Engineering Oil and Gas Limited are reasonably suspected to be proceeds of unlawful activities as they represent funds paid by Lagos state government to contractors meant for the execution of projects for the good people of Lagos State.
“The manner in which the funds sought to be finally forfeited were transferred to Oceangate shows the secrecy and the intentions to conceal the origin and illegitimacy of the said funds.
“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 huge sums of United States of America dollars.
“While acting in concert with Oceangate Engineering Oil and Gas 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 total sum of $9,000,000.00 (nine million United States of America dollars) 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 Ocean gate Oil and Gas Limited.
“Apart from the cash of United States of America dollars, Oceangate Engineering Oil and Gas Limited equally procured Suleiman Muhammed Chiroma, Tirmizi Muhammed Usman and Dantani Abubakar Hassan to receive funds reasonably suspected to be proceeds of unlawful activities from different contractors with the Lagos State Government.
“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 Pic.
“Between the 13th and 18th day of March, 2025 and whilst 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 the said account number 1229255048 domiciled in Zenith Bank Plc to receive the total sum of N1,600,594,000.00 from different contractors executing contracts for and on behalf of the Lagos State Government.
“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 above combine sum of N2,455,651,560.00 received
in both Zenith Bank and Access Bank account of Ashrab Energy and Oil Services Limited Zenith and Access bank accounts were converted to United State Dollars and subsequently transferred same to Ocean gate Engineering Oil and Gas Limited bank account domiciled in Zenith Bank for onward payment for the signature bonus of the two oil blocks PPL 302 and PPL 3007 allocated to the company.
“In all, Dantani Abubakar Hassan, through his company Ashrab Energy and Oil Services Limited, account number 5074922458 domiciled In Zenith Bank Pic, transferred the total sum of $8,970,000.00 into the Zenith bank account of Oceangate Engineering Ol) and Gas Limited with account number 5074678281 for the payment of signature bonus.
“While working in concert with Oceangate Engineering Oil and Gas Limited and Suleiman Chiroma, Tripple A & Tee Oj! Nigeria Limited used its account domiciled in Suntrust Bank Limited to receive and retain the total sum of N2,000,000,000.00 (two billion naira) 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 aforementioned N2,000,000,000.00, paid by the contractors working for Lagos State Government to the account of Trippie A & Tee Oil Nigeria Limited were converted to United States of America Dollars and paid to the account of Oceangate Engineering Oil and Gas Limited No. 5074678281, domiciled with Zenith Bank Pic,” it said
The EFCC claimed that the funds used by Oceangate Engineering Oil and Gas Limited to pay for the Signature bonuses in respect of PPL 302 & PPL 3007 are reasonably suspected to be proceeds of unlawful activity.
It added that “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 EFCC stated that its investigation showed that the said contractors engaged by the Lagos State Government had no contractual or business relationship Oceangate and were also not investors, directors or shareholders in Oceangate.
The EFCC faulted the audit report attached to Oceangate’s affidavit to show cause, stating that the author of the report – Godwin Ukah – later admitted that he did not see the various account statements of Oceangate when he prepared the audit report.
It said Ukah “equally admitted that Oceangate has not actively earned from oil and gas exploration.”
The EFCC also stated that in the course of investigation, it interacted with Oceangate’s Chief Executive Officer (CEO), Aisha Achimugu, who it claimed, admitted in her extra-judicial statement that she has the most significant control of Oceangate Oil and Gas Limited.
It claimed that Achimugu also admitted in her statement that Oceangate Oil & Gas Ltd does not do contract for now nor has it carried out any contract either in private or public sector.”
In urging the court to order the final forfeiture of the money to the Fed Govt, the EFCC claimed that Oceangate, in its bid to fulfil the requirements for payments of the signature bonuses for PPL 302 and PPL 3007, conspired with some unlicensed Bureau de Change operators and bank officials to retain and transfer funds totalling $13m (thirteen million USD).
Oceangate, in its affidavit to show cause, deposed to by one of its directors, Iliya Wakil, said it came to his knowledge that the court made an order of interim forfeiture of the $13m which it paid for the signature bonuses for the two oil licences between March 20, 2025 and April 3, 2025.
The company prayed the court not to grant the order of final forfeiture being sought by the EFCC because all the funds were derived partly from legitimate earnings of the company and partly gifts given its Group Chief Executive Officer (GCEO), Dr Aisha Achimugu.
If faulted EFCC’s claim that it conspired with unregistered BDC operators and bank officials to retain and transfer the sum or any sum of money whatsoever which had anything to do with unlawful activity.
Oceangate stated that the Suleiman Chiroma referred to by the EFCC in the court documents it filed is a licensed BDC agent, engaged lawfully by the company to help it source the US dollars required to pay for the signature bonuses because the Fed Govt made it mandatory that the funds should be paid in dollars.
It further states that Chiroma acted fully independently and without any form of control by Oceangate Limited, adding that Oceangate did not know Dantani Hassan or the company known as Ashrab Energy and Oil Services Limited.
Oceangate also denied knowing one Tirmizi Usman and Tripple A & Tee Oil Nigeria Limited, stating that it had never met or transacted business with any of the persons stated in paragraphs 15 and 16 of the EFCC’s affidavit in any manner and for any reason whatsoever.
The company claimed that the entire naira swapped for the dollars came from legitimate sources, attaching the audited accounts of the company as exhibits.
Oceangate, in a motion on notice filed with the affidavit to show cause, sought an order setting aside the order of interim forfeiture of the $13 million which it claimed belong to it.
It contended that the order was made by the court without requisite jurisdiction and against the principle of fair hearing.
