Oceangate Engineering Oil and Gas Limited has concluded plans to challenge the Federal High Court judgment directing the forfeiture of its assets to the federal government.
The energy firm, in a statement on Thursday by its scribe, Ms Nnenna Onyeaso, denied any wrongdoing in the matter taken to court by the Economic and Financial Crimes Commission (EFCC).
Justice Emeka Nwite of the Federal High Court in Abuja ordered the final forfeiture of $13 million linked to a Lagos socialite, Ms Aisha Achimugu, and her company, Oceangate, after ruling that the EFCC established that the foreign currency was proceeds of fraud and unlawful activities.
The judge dismissed the claims that the $13 million was gifts received into the Oceangate Engineering Company by Ms Achimugu, adding that the woman never came to the court to show cause why the huge amount of money should not be forfeited to the government.
Reacting to the issue in the statement, Oceangate described the court’s decision as a civil asset forfeiture order based on suspicion rather than proof, stressing that the judgment did not establish any criminal liability against the organisation.
The organisation emphasised that it has already directed its legal team to file an appeal, expressing confidence in the judicial process and the outcome of a thorough review of the case.
“To be clear, this ruling is 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,” Ms Onyeaso said in the statement.
The firm secretary also said that Oceangate has reiterated its belief in the rule of law, noting that the appellate system exists to address such outcomes, adding that the firm remained confident that the facts of the case will ultimately affirm its integrity and business practices.
She stressed that the company’s operations remained unaffected, stating that it continues to provide employment to many Nigerians while contributing to the country’s energy sector and broader economy.
“We have always believed in the ability of the judicial process, and that belief has not wavered,” she added, saying the organisation expressed appreciation to its employees, partners, and clients for their continued support amid the development, assuring stakeholders of its commitment to transparency and accountability.
“We remain committed to the continued growth of our business and the communities we serve as we are optimistic that justice will prevail at the end of the legal process,” Ms Onyeaso stated.