Lagos State Governor, Babajide Sanwo-Olu, is under investigation by the Economic and Financial Crimes Commission (EFCC) following the discovery of a controversial $13 million linked to businesswoman Aisha Achimugu and contractors associated with the Lagos State Government

The probe comes after a Federal High Court in Abuja ordered the final forfeiture of the $13 million to the Nigerian government, ruling that the funds were proceeds of unlawful activities.

According to investigators, the money was traced to accounts connected to Achimugu’s company, Oceangate Engineering Oil & Gas Ltd. The EFCC alleged that the funds were funneled through a network involving bureau de change operators, bank officials, and payments from contractors executing projects for Lagos State.

Further findings revealed that a significant portion of the funds originated from Lagos State contractors, raising concerns about possible diversion or laundering of public funds tied to government projects.

Sources indicate that the EFCC has now widened its investigation to scrutinize financial transactions linked to associates of Achimugu and contractors working with the Lagos State Government, with Governor Sanwo-Olu’s administration coming under intense review.

The anti-graft agency is particularly interested in how public funds paid to contractors may have been redirected into private accounts and subsequently converted into foreign currency for transactions related to oil block acquisitions.

Despite the allegations, there has been no official statement yet from Governor Sanwo-Olu directly addressing the probe.

Meanwhile, Achimugu’s firm has reportedly defended the transactions, claiming the funds were derived from legitimate business earnings and gifts, though the court rejected these claims due to lack of evidence.

The case has sparked nationwide attention, as it touches on issues of public fund management, transparency in government contracts, and financial accountability. Analysts say the outcome of the investigation could have significant political and legal implications for Lagos State and beyond.

As investigations continue, the EFCC is expected to determine whether any laws were violated and if further legal actions, including possible prosecutions, will follow.