Oceangate to Appeal Federal Court Asset Forfeiture Order

Oceangate has announced its intention to challenge a recent federal high court ruling that ordered the forfeiture of certain company assets. Nnenna Onyeaso, the company secretary, emphasized that neither Oceangate nor its leadership has been found guilty of any wrongdoing.

She described the court's decision as a civil asset forfeiture order based on suspicion rather than proof, noting that no criminal liability has been established against the firm. Oceangate has already instructed its legal team to file an appeal and remains confident in the judicial process, expressing optimism that a thorough review of the case will yield a favorable outcome.

Onyeaso reiterated the company's commitment to the rule of law and the appeal system, asserting that the decision will ultimately vindicate Oceangate's integrity in business practices. The company continues to operate and provide employment opportunities, contributing to Nigeria's energy sector and broader economy.