Appeal court vacates order freezing 124 bank accounts ‘linked to’ Aisha Achimugu

The Court of Appeal sitting successful Port Harcourt, Rivers State, has vacated the interim bid freezing 124 slope accounts belonging to businesswoman, Aisha Achimugu and companies linked to her, ruling that allowing the ex parte bid to stay successful unit for implicit 15 months amounted to an maltreatment of tribunal process.

In a unanimous judgement delivered on Wednesday, a three-member sheet of the appellate tribunal comprising Justices Muhammad Ibrahim Sirajo, Ishaq Mohammed Sani and Eleojo Enenche discharged the interim freezing bid granted by the Federal High Court successful Port Harcourt connected April 10, 2025.

The entreaty arose from a suit filed by the Economic and Financial Crimes Commission, EFCC, challenging the Federal High Court’s ruling of August 27, 2025.

Justice Turaki Adamu of the Federal High Court had initially granted the EFCC’s ex parte exertion freezing 124 slope accounts linked to Achimugu, the laminitis of Oceangate Engineering Oil & Gas Ltd, and restrained banks from allowing outward transactions connected the accounts.

Achimugu aboriginal applied to acceptable speech the freezing order, arguing that it constituted an maltreatment of tribunal process. She besides informed the tribunal that contempt the subsisting order, the EFCC directed SunTrust Bank, done a missive dated April 24, 2025, to transportation funds from 1 of the frozen accounts to the Central Bank of Nigeria (CBN)/EFCC recove...