Oceangate Engineering Oil & Gas Limited has announced plans to challenge a recent Federal High Court ruling that ordered the forfeiture of some of its assets, maintaining that the decision does not implicate the company or its leadership in any wrongdoing.
In a statement issued on Thursday, the Company Secretary, Barr. Nnenna Onyeaso, clarified that the court’s decision was based on a civil asset forfeiture order, which she said relied on suspicion rather than concrete proof.
She stressed that the judgment did not establish any criminal liability against the firm or its executives.
“To be clear, this ruling is a civil asset forfeiture order with no finding of wrongdoing against Oceangate or its leadership,” Onyeaso stated. “The court’s decision rested on a legal standard of suspicion, not proof, and it is one we intend to pursue fully through the appeals process.”
According to her, the company has already instructed its legal team to file an appeal, expressing confidence that a thorough judicial review will overturn the ruling.
Oceangate reaffirmed its belief in the rule of law, noting that the appellate system exists to address such outcomes and ensure justice is served.
The company also assured stakeholders that its operations remain stable and unaffected by the development, adding that it continues to provide employment opportunities and contribute to Nigeria’s energy sector and economy.
Onyeaso further appreciated employees, partners, and clients for their continued support, pledging the firm’s commitment to transparency and accountability.
She reiterated the company’s confidence in Nigeria as an investment destination, describing it as a land of opportunity, equity, and growth.
“We remain optimistic that justice will prevail at the end of the legal process,” she added.
