Oceangate Oil & Gas to Appeal Asset Forfeiture Ruling

Oceangate Oil & Gas has announced its intention to challenge a ruling by the Federal High Court regarding the forfeiture of certain assets. The company, represented by its secretary Barr Nnenna Onyeaso, stated that neither the company nor its leadership was found guilty of any wrongdoing.

Onyeaso emphasized that the court's civil asset forfeiture order was based on suspicion rather than concrete proof, highlighting that the judgment did not establish any criminal liability against the organization. The company has instructed its legal team to file an appeal and expressed confidence in the judicial process, believing that a thorough review will affirm its integrity and business practices.

Oceangate also reassured stakeholders of its commitment to transparency and accountability, stating that its operations remain unaffected and continue to contribute to Nigeria's energy sector and broader economy. The firm expressed gratitude to its employees, partners, and clients for their support during this development.