By Daniel Oluwatobiloba Popoola
Oceangate Engineering Oil & Gas Limited has rejected a Federal High Court ruling ordering the forfeiture of its assets, insisting that the decision was not a finding of wrongdoing and confirming that it has initiated an appeal.
In a statement issued on Wednesday 25 March, 2026, in Abuja, the company clarified that the ruling was a civil asset forfeiture order based on suspicion rather than proof, stressing that neither the organisation nor its leadership had been found guilty of any offence.
The firm stated that it had already instructed its legal counsel to challenge the decision through the appellate process, expressing confidence that a comprehensive review of the facts would overturn the outcome.
To clarify its position, the company stated, “This was 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.”
Furthermore, Oceangate maintained that it had always operated within the bounds of the law and remained confident in the judicial system.
It noted that the appeal process exists precisely to address outcomes it believes do not reflect the full weight of available evidence.
“We have already instructed our legal counsel to file an appeal. We have always believed in the ability of the judicial process and that belief has not wavered,” the statement read, adding that it was confident “a thorough review of the facts will speak for itself and for the integrity with which this company has always operated.”
Meanwhile, the company highlighted its contributions to Nigeria’s economy, stating that it employs a significant number of Nigerians and continues to create opportunities within the energy sector. It emphasised that its operations remain ongoing despite the legal challenge.
In addition, Oceangate expressed appreciation to its employees, partners and clients for their continued support, assuring them of its commitment to transparency and adherence to the Rule of Law.
“Your confidence in us is not taken for granted. We remain committed to transparency, to the rule of law, and to the continued growth of our business and the communities we serve,” it stated.
The company also reaffirmed its belief in Nigeria as a viable destination for investment, noting that it remains committed to contributing to national development while pursuing justice through lawful means.
“We also reaffirm our belief in Nigeria as a land of equity, growth, and opportunity and a viable destination for enterprise and investment. We are confident that justice will ultimately prevail,” the statement added.
The statement was signed by the Company Secretary, Barrister Nnenna Onyeaso.
