FIC Report (Lagos State) – The (EFCC) has commenced an investigation into the source of $13 million linked to, following a court-ordered forfeiture of the funds.
The Federal High Court in Abuja granted a final forfeiture order, ruling that the funds were reasonably suspected to be proceeds of unlawful activity. The money was reportedly associated with transactions carried out by a company connected to Ms Achimugu in relation to the acquisition of oil block licences.
According to information from court filings and investigative sources, a portion of the funds has been traced to payments made by contractors engaged by the Lagos State Government. This development has prompted further scrutiny of financial flows linked to public sector projects.
The administration of is now under review as part of the broader investigation. However, no formal charges have been filed against the governor or any state officials at this time.
Investigators are examining the circumstances under which contractors allegedly transferred funds to private entities without clear contractual justification. Authorities are also reviewing the roles of financial intermediaries and other parties involved in the transactions.
The EFCC stated that its investigation remains ongoing and emphasized its commitment to transparency, accountability, and the rule of law. Further updates will be provided as more details emerge.
Meanwhile, representatives of the Lagos State Government have not issued an official response to the latest developments as of the time of this release.
Reported by
Shitta-Bey-Adekunle Kemi
A.C.I.O
Federal information Centre, Lagos .
26 / 03 / 2026 .
