Oceangate Engineering Oil & Gas Limited has said it will challenge the recent ruling of the Federal High Court ordering the forfeiture of some of its assets, insisting that neither the company nor its leadership was found guilty of any wrongdoing.
The firm disclosed this in a statement issued on Thursday by its Company Secretary, Barrister Nnenna Onyeaso, who described the judgment as a civil asset forfeiture order based on suspicion rather than proof.
According to Onyeaso, the court’s decision did not establish any criminal liability against the company, stressing that the ruling fell short of indicting Oceangate or its officials.
She said, “To be clear, this ruling is a civil asset forfeiture order with no finding of wrongdoing against Oceangate or its leadership.
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.”
The company noted that it had already instructed its legal team to file an appeal, expressing confidence in the judicial system and optimism that a thorough review would overturn the ruling.
Reaffirming its faith in the rule of law, the firm stated that the appellate process provides an opportunity to address perceived injustices in judicial outcomes.
Oceangate also maintained that its operations remain unaffected by the development, adding that it continues to contribute to Nigeria’s energy sector while providing employment for Nigerians.
“We have always believed in the ability of the judicial process, and that belief has not wavered,” Onyeaso added.
She further said the company appreciated the support of its employees, partners, and clients, assuring stakeholders of its continued commitment to transparency and accountability.
The firm reiterated its confidence in Nigeria as an investment destination, describing the country as a land of equity, growth, and opportunity.
“We remain committed to the continued growth of our business and the communities we serve, and we are optimistic that justice will prevail at the end of the legal process,” the statement added.
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