Oceangate to Appeal Court's Asset Forfeiture Order

Oceangate has announced its intention to challenge a federal high court's recent ruling that ordered the forfeiture of certain company assets. In a statement issued on Thursday, the company's secretary, Nnenna Onyeaso, 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. Onyeaso stated that Oceangate has already instructed its legal team to file an appeal and expressed optimism that a thorough review of the case will yield a favorable outcome.

She reiterated the company's commitment to the rule of law and the belief that the judicial process will ultimately vindicate its business practices. Additionally, she assured stakeholders of the company's ongoing operations and its contributions to Nigeria's energy sector and broader economy.