Oceangate Engineering to appeal court’s asset forfeiture ruling

Oceangate Engineering Oil and Gas has vowed to challenge the verdict of a Federal High Court that ordered the forfeiture of some of its assets.

The company secretary, Nnenna Onyeaso, in a statement on Thursday, March 26, stressed that neither the firm nor its leadership was found guilty of any offence, describing the ruling as a civil asset forfeiture based on suspicion rather than proven wrongdoing.

“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,” Onyeaso stated.

She said the company has instructed its legal team to file an appeal, expressing confidence that a thorough review will result in a favourable outcome. Onyeaso reaffirmed Oceangate’s trust in the judicial system, noting that the appellate process exists precisely to address such decisions.

The company also assured stakeholders that its operations remain unaffected, emphasising its continued contribution to Nigeria’s energy sector and its role as an employer of labour.

Onyeaso further expressed appreciation to employees, partners, and clients for their support, adding that Oceangate remains committed to transparency, accountability, and long-term investment in Nigeria.

“We remain optimistic that justice will prevail at the end of the legal process,” she said.