Oceangate Engineering Oil & Gas Limited on Thursday said it will appeal the recent ruling of the Federal High Court ordering the forfeiture of some of its assets.
The firm while advocating a review of the case insisted that neither the company nor its leadership was found culpable in any criminal wrongdoings.
In a statement made available to our correspondent and signed by the company’s secretary, Barr Nnenna Onyeaso described the court’s decision as a civil asset forfeiture order based on suspicion rather than proof, adding that, “the judgment did not establish any criminal liability against the organisation.”
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According to her, the company maintain that it has already directed its legal team to file an appeal, expressing confidence in the judicial process and the outcome of a thorough review of the case.
“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,” she said in a statement.
Onyeaso reiterated Oceangate belief on the rule of law, noting that the appellate system exists to address such outcomes.
She added that the company remained confident that the facts of the case will ultimately affirm its integrity and business practices.
She, however, noted that the firm’s operational activities remained unaffected, stressing that it continues to provide employment for many Nigerians while contributing to the country’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.
She noted that Oceangate further expressed appreciation to its employees, partners, and clients for their continued support amid the development, assuring stakeholders of its commitment to transparency and accountability.
Reiterating its position, the firm expressed confidence in Nigeria as a viable destination for investment, 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 as we are optimistic that justice will prevail at the end of the legal process,” the statement read.
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