Oceangate Engineering to Appeal Asset Forfeiture Ruling by Federal High Court
Oceangate Engineering Oil & Gas Limited has announced plans to appeal a recent ruling by the Federal High Court ordering the forfeiture of certain company assets.
The development marks a new phase in the legal dispute, as the firm seeks to overturn what it describes as an unfavourable but contestable judgment.
In a statement released on Thursday, Company Secretary Nnenna Onyeaso clarified that neither Oceangate nor its leadership was found guilty of any criminal wrongdoing. She stressed that the ruling was issued under civil asset forfeiture provisions and did not establish liability or misconduct.
Source: Twitter
“Based on suspicion, not proof”
According to Onyeaso, the court’s decision relied on a legal threshold rooted in suspicion rather than concrete proof. She emphasised that this distinction is central to the company’s decision to proceed with an appeal.
“To be clear, this ruling is a civil asset forfeiture order with no finding of wrongdoing against Oceangate or its leadership,” she said. “The decision rested on suspicion, not proof, and it is one we intend to challenge fully through the appeals process.”
The company has already instructed its legal team to initiate proceedings at the appellate level, expressing confidence that a more comprehensive judicial review will yield a different outcome.
Confidence in the judicial process
Despite the setback, Oceangate reaffirmed its trust in Nigeria’s legal system, highlighting the importance of the appeals process in ensuring fairness and justice. Onyeaso noted that the company views the current ruling as part of a broader legal journey rather than a final verdict.
She maintained that the appellate courts exist precisely to re-examine such decisions and ensure that all relevant facts are thoroughly considered. The firm remains optimistic that its position will be vindicated once the appeal is heard.
Operations remain stable
Oceangate was quick to reassure stakeholders that the ruling has not disrupted its operations. The company continues to function normally, maintaining its role in Nigeria’s oil and gas sector while employing a significant number of Nigerians.
The firm also reiterated its contribution to the national economy, positioning itself as a stable and responsible corporate player despite the ongoing legal challenge.
Stakeholder support and commitment to transparency
Onyeaso expressed appreciation to employees, partners, and clients for their continued support during this period. She assured stakeholders that Oceangate remains committed to transparency, accountability, and ethical business practices.
Source: UGC
The company further reiterated its belief in Nigeria as a viable destination for investment, describing the country as one filled with opportunity, growth, and fairness.
Looking ahead
As Oceangate prepares for the next stage of legal proceedings, the company remains confident that the facts will ultimately affirm its integrity. With its appeal underway, all eyes will be on the appellate courts to determine the final outcome of the case.
“We remain committed to the continued growth of our business and the communities we serve,” Onyeaso said. “We are optimistic that justice will prevail at the end of the legal process.”
Women lifting women: Achimugu empowers FCT women
Legit.ng earlier reported that Aisha Achimugu, Founder and President of the SAM Empowerment Foundation, has empowered over 100 women and persons living with disabilities across the Federal Capital Territory with practical vocational skills designed to promote financial independence and long-term stability.
The beneficiaries were trained in hairdressing, fashion design, food grinding and processing, and other income-generating trades.
The initiative reflects the Foundation’s core mission of equipping vulnerable groups with tools to build sustainable livelihoods rather than temporary relief.
Source: Legit.ng
