The Corporate Affairs Commission (CAC) is reportedly facing mounting pressure to alter the ownership records of 20 companies allegedly linked to Aisha Achimugu, a fugitive businesswoman currently under investigation by the Economic and Financial Crimes Commission (EFCC) for fraud and money laundering.
According to investigative journalist Jackson Ude, the companies in question, all registered with the CAC and sharing common addresses, were allegedly used to divert $250 million — funds said to have been earmarked for the “2027 election projects.” The money was reportedly donated by corporate bodies and prominent individuals and entrusted to the Lagos State Governor, Babajide Sanwo-Olu, who allegedly handed it over to Achimugu, his alleged lover, for safekeeping in a special account.
Sources disclosed that Achimugu allegedly misappropriated the funds, distributing them across several personal and associated accounts. Investigations began when Governor Sanwo-Olu reportedly failed to account for the funds, and links to Achimugu as the custodian emerged. Investigators found that the funds could not be traced to the primary account where they were initially lodged.
An insider at the CAC confirmed that individuals purportedly acting on Achimugu’s behalf have approached the Commission to manipulate official company records.
“Some persons, some of them lawyers, have reached out to us requesting the possibility of changing the directorship or ownership of companies registered here that are linked to Mrs. Achimugu,” a CAC source disclosed.
The source warned that altering the directorship could compromise the ongoing investigations. “If the records are tampered with, Achimugu might claim in court that she has no ties to the companies under investigation,” the insider added.
The EFCC investigation into the matter is ongoing, and the CAC has so far not issued an official statement regarding the alleged pressure to amend records. Read Full Details
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