Oceangate asset forfeiture appeal begins as the firm challenges a Federal High Court ruling, insisting no wrongdoing was established
Oceangate Engineering Oil & Gas Limited on Thursday, March 27, 2026, announced plans to challenge a Federal High Court ruling ordering the forfeiture of certain company assets, insisting that no criminal wrongdoing was established against the firm or its leadership.
The disclosure was made by the company’s secretary, Nnenna Onyeaso, who stated that the decision constitutes a civil asset forfeiture order grounded in suspicion rather than definitive proof.
Also read: Court fixes March 25 to rule on final forfeiture of $13m being claimed by Aisha Achimugu’s Oceangate
She emphasised that the judgment did not attribute any criminal liability to the organisation.
According to Onyeaso, the company has already instructed its legal team to file an appeal, expressing firm confidence in the judicial process and the appellate system’s ability to provide a thorough review.
She described the ruling as one that will be robustly contested through all available legal channels.
The secretary reiterated that the case does not involve a conviction or finding of guilt, noting that the legal standard applied by the court differs from that required in criminal proceedings.
She added that the company remains optimistic that a comprehensive reassessment will produce a favourable outcome.
Oceangate further stressed that its operations remain stable and unaffected by the development, continuing to provide employment and contribute to Nigeria’s energy sector.
The company also reassured stakeholders of its commitment to transparency, accountability and adherence to best practices.
In her statement, Onyeaso expressed appreciation to employees, partners and clients for their continued support, describing their confidence as vital during the ongoing legal process.
She reaffirmed the company’s belief in Nigeria’s judicial system and broader investment climate.
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The development introduces a significant legal contest that will test the boundaries of civil asset forfeiture, with the appeal expected to determine whether the initial ruling will be upheld or overturned upon further judicial scrutiny.
