Oceangate Engineering Oil & Gas Limited has announced its intention to appeal a recent ruling by the Federal High Court that ordered the forfeiture of certain company assets. The company maintains its innocence and that of its leadership, asserting that no wrongdoing has been established against them.
Company’s Stance on Court Ruling
Barrister Nnenna Onyeaso, the Company Secretary, issued a statement confirming the company’s decision to challenge the court’s order. She emphasized that the ruling was a civil asset forfeiture order, predicated on suspicion rather than definitive proof. According to Onyeaso, the judgment did not establish any criminal liability for Oceangate or its executives.
“To be clear, this ruling is a civil asset forfeiture order with no finding of wrongdoing against Oceangate or its leadership,” Onyeaso stated. “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 has directed its legal team to initiate the appeals process, expressing strong confidence in the integrity of the judicial system and the anticipated outcome of a comprehensive review of the case. Oceangate reiterated its unwavering belief in the rule of law and highlighted the existence of an appellate system designed to address such legal outcomes.
Confidence in the Judicial Process
Oceangate’s leadership expressed optimism that the factual evidence of the case will ultimately vindicate the company’s integrity and its established business practices. “We have always believed in the ability of the judicial process, and that belief has not wavered,” the Company Secretary added.
The firm secretary further noted that the appellate system is in place precisely to handle situations like this, providing a mechanism for review and potential correction of judicial decisions. This procedural safeguard is central to Oceangate’s strategy in seeking a reversal of the forfeiture order.
Continued Operations and Stakeholder Support
Despite the legal proceedings, Oceangate has stressed that its day-to-day operations remain entirely unaffected. The company continues to be a significant employer of Nigerians and remains committed to its contributions to the nation’s vital energy sector and the broader economy.
The company also took the opportunity to express its gratitude to its employees, partners, and clients for their sustained support during this period. Oceangate assured all stakeholders of its steadfast commitment to maintaining the highest standards of transparency and accountability in all its dealings.
Nigeria as an Investment Hub
In a broader statement, Oceangate reaffirmed its confidence in Nigeria as a fertile and viable destination for investment. The company described the nation as a land characterized by equity, substantial growth, and abundant opportunities. This positive outlook on Nigeria’s economic potential underscores the company’s long-term commitment to its operations within the country.
“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 concluded, underscoring the company’s forward-looking perspective and its dedication to positive outcomes.
