The Court of Appeal in Port Harcourt, Rivers State, has vacated an interim order that froze 124 bank accounts belonging to prominent businesswoman Aisha Achimugu and companies associated with her.
In a unanimous judgment delivered on Wednesday by a three-member panel of justices, Muhammad Ibrahim Sirajo, Ishaq Mohammed Sani, and Eleojo Enenche, the appellate court ruled that keeping the ex parte freezing order in force for over 15 months amounted to an abuse of court process.
The interim order was originally granted by Justice Turaki Adamu of the Federal High Court in Port Harcourt on April 10, 2025, at the request of the Economic and Financial Crimes Commission (EFCC).
It affected accounts linked to Achimugu, founder of Oceangate Engineering Oil & Gas Ltd, and barred banks from permitting any debit transactions.
Achimugu had challenged the order, arguing it constituted an abuse of process. She also raised concerns over the alleged unlawful transfer of N1.8
