Oceangate Engineering to Appeal Court Ruling on Asset Forfeiture
Oceangate Engineering Oil & Gas Limited, a prominent exploration and production firm, has announced its intention to appeal a recent ruling by the Federal High Court that ordered the forfeiture of certain assets. The company's Secretary, Nnenna Onyeaso, made this disclosure in a statement released on Thursday, emphasizing that neither the firm nor its leadership has been found guilty of any misconduct.
Company's Stance on the Ruling
Onyeaso clarified that the court's decision is viewed as a civil asset forfeiture order based on suspicion rather than concrete proof. She stressed that the judgment did not establish any criminal liability against Oceangate, and the company is confident that a thorough review through the appeals process will lead to a favorable outcome. "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 statement read.
Commitment to Judicial Process and Operations
The company has instructed its legal team to file an appeal, expressing unwavering belief in the rule of law and the appellate system's ability to address such matters. Onyeaso noted that Oceangate remains optimistic that the facts of the case will ultimately affirm its integrity and business practices. She added that the firm's operations continue unaffected, providing employment for many Nigerians and contributing significantly 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 stated.
Gratitude and Future Outlook
Onyeaso further expressed appreciation to employees, partners, and clients for their ongoing support during this development, reassuring stakeholders of the company's commitment to transparency and accountability. She reaffirmed Oceangate's confidence in Nigeria as a viable investment destination, describing it 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 concluded.
