Oceangate Engineering Oil & Gas Limited has announced plans to appeal a recent ruling by the Federal High Court ordering the forfeiture of certain assets, maintaining that neither the company nor its leadership was found guilty of any wrongdoing.
The Company Secretary, Barr. Nnenna Onyeaso, in a Statement described the judgment as a civil asset forfeiture order based on suspicion rather than proof, stressing that it did not establish any criminal liability against the organisation.
“To be clear, this ruling is a civil asset forfeiture order with no finding of wrongdoing against Oceangate or its leadership,” Onyeaso said.
“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.”
She disclosed that the company had already instructed its legal team to file an appeal, expressing confidence in the judicial system and the outcome of a thorough review of the case.
Onyeaso reaffirmed the firm’s belief in the rule of law, noting that the appellate process provides an avenue to address such outcomes, adding that the company is confident that the facts of the case will ultimately affirm its integrity and business practices.
She also stated that Oceangate’s operations remain unaffected by the ruling, noting that the company continues to provide employment and contribute to Nigeria’s energy sector and broader economy.
“We have always believed in the ability of the judicial process, and that belief has not wavered,” she added.
The company expressed appreciation to its employees, partners and clients for their continued support, assuring stakeholders of its commitment to transparency and accountability.
Oceangate further reaffirmed its confidence in Nigeria as an investment destination, describing the country as a land of equity, growth and opportunity, while expressing optimism that justice would prevail at the conclusion of the legal process.
The Federal High Court in Lagos had earlier on Wednesday ordered the final forfeiture of $13 Million to the Federal Government claimed by Oceangate Oil and Gas Engineering describing it as proceeds of unlawful acitivity.
The funds were linked to Lawyer and Businesswoman, Aisha Achimugu, who is according to records the owner of the company which is also a part of the Felak Group, where She is also the Chief Executive Officer and founder.
Aisha Achimugu is currently on trial for Money Laundering and Economic Crimes by the Economic and Financial Crimes Commission, EFCC.
