Negotiations are reportedly in progress to end the ongoing probe by the Economic and Financial Crimes Commission (EFCC) into Aisha Achimugu, a businesswoman and close associate of Lagos State Governor Babajide Sanwo-Olu. This development comes on the heels of a private meeting between Governor Sanwo-Olu and President Bola Tinubu, held on Sunday, and attended by members of the Lagos Governance Advisory Council (GAC) led by its chairman, Alhaji Tajudeen Olusi.
Achimugu was declared wanted by the EFCC in March over allegations of money laundering and investment fraud. She was summoned by the agency on March 5, 2025, but fled Nigeria the following day. The EFCC then secured a court-issued arrest warrant and officially placed her on its wanted list.
Her ties to Governor Sanwo-Olu came under intense scrutiny after reports emerged that he attended her lavish 50th birthday celebration in Grenada earlier this year. The governor reportedly traveled on a private jet and stayed at one of the most expensive resorts in the Caribbean during the event. The trip coincided with a fire at the Mandilas building in Lagos and widespread public concern over rising poverty and insecurity in the state.
A detailed investigation by *Premium Times* revealed that Sanwo-Olu spent nearly a week abroad for the birthday festivities, including time at the ultra-exclusive Calivigny Island and the seven-star Silversands Grenada resort. The celebration allegedly cost close to \$1 million, excluding additional expenses. During the governor’s absence, some Lagos officials were unaware of his whereabouts, with conflicting reports suggesting he was in London on official duties.
Achimugu has also faced allegations of covertly funding opposition candidates Peter Obi and Atiku Abubakar during the 2023 elections, a claim that reportedly angered President Tinubu. However, the EFCC has since clarified that her investigation concerns only financial crimes and is not politically motivated.
Sources familiar with the recent negotiations suggest that the talks are part of broader efforts to de-escalate tensions between Sanwo-Olu and President Tinubu. Tensions had mounted following reports that Sanwo-Olu was involved in the questionable allocation of 96 hectares of land at Banana Island to developers allegedly linked to both himself and Achimugu. The President was said to be particularly incensed by claims that land belonging to him was sold during this process.
This land dispute was one of several issues that reportedly led to a brief but significant political fallout, including the controversial impeachment of Lagos Assembly Speaker Mudashiru Obasa in January 2025. Obasa, a close ally of Tinubu, was replaced by Mojisola Meranda, the first female Speaker of the Lagos Assembly. Tinubu later intervened, directing Obasa’s reinstatement, which occurred after 49 days.
Following the recent meeting at the Presidential Villa, Governor Sanwo-Olu publicly downplayed any perceived rift, thanking the President for granting the audience and dismissing reports of discord. “Did you see any discord? Can’t you see, even you are smiling and I am smiling? There is none,” he told reporters. “He’s my father, he’s my leader… there’s nothing at all.”
Despite the public show of unity, sources indicate that behind closed doors, serious efforts are being made to resolve the EFCC matter involving Achimugu as part of wider political realignments within the ruling All Progressives Congress (APC) in Lagos.
