Oceangate Engineering Oil & Gas Limited has announced its intention to appeal a recent ruling by the Federal High Court in Lagos ordering the forfeiture of $13 million to the Federal Government. The company maintains that neither it nor its leadership has been found guilty of any criminal wrongdoing.
In a statement issued by the Company Secretary, Barrister Nnenna Onyeaso, the firm described the ruling as a civil asset forfeiture order grounded on suspicion rather than conclusive proof. She emphasized that the judgment did not establish any criminal liability against Oceangate or its executives.
“To be clear, the ruling constitutes a civil asset forfeiture order and contains no finding of wrongdoing against Oceangate or its leadership,” Onyeaso stated. “The court’s decision was based on a legal threshold of suspicion rather than proof beyond reasonable doubt, and it is a determination we intend to vigorously challenge through the appellate process.”
According to Onyeaso, the company has already instructed its legal team to file an appeal and remains confident that a comprehensive review of the case will ultimately vindicate the organization.
Reaffirming Oceangate’s respect for the rule of law, she noted that the appeals process provides an important mechanism for addressing contested decisions and ensuring that justice is fully served.
“Oceangate has always maintained faith in the integrity of the judicial system, and that belief remains steadfast. We are confident that the facts of this matter will, in the end, affirm the integrity of our operations and business practices,” she said.
The company also assured stakeholders that the court ruling has no impact on its operations, stressing that it continues to deliver services within Nigeria’s energy sector while providing employment and contributing to the nation’s economic growth.
Oceangate further expressed appreciation to its employees, partners, and clients for their continued support during the legal process, reiterating its commitment to transparency, accountability, and responsible corporate governance.
The Federal High Court in Lagos had earlier ordered the final forfeiture of the $13 million to the Federal Government, describing the funds as proceeds of unlawful activity.
The money is reportedly linked to lawyer and businesswoman Aisha Achimugu, the owner of Oceangate Engineering Oil & Gas Limited and founder and Chief Executive Officer of the Felak Group.
Achimugu is currently facing trial on charges of money laundering and other economic crimes brought against her by the Economic and Financial Crimes Commission (EFCC).
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