Oceangate To Appeal Asset Forfeiture Verdict

An energy firm, Oceangate Engineering Oil & Gas Limited has rejected the implications of a recent Federal High Court ruling ordering the forfeiture of certain assets, saying the decision did not establish any wrongdoing by the company or its management.

The company characterised the ruling as a civil asset‑forfeiture order based on suspicion rather than proof and stressed that it fell short of a criminal finding of liability. In a statement issued by the company secretary, Nnenna Onyeaso, Oceangate said it had instructed its lawyers to appeal the judgment to a higher court and was confident a detailed judicial review would vindicate its operations and corporate conduct.

“The appellate process exists for exactly this kind of outcome,” the statement said, adding that the company remained confident that “a thorough review of the facts would speak for itself.”

The Federal High Court in Abuja recently ordered that US$13 million traced to businesswoman and socialite Aisha Achimugu’s firm be permanently forfeited to the Nigerian government. Delivering judgment on the Economic and Financial Crimes Commission’s (EFCC) forfeiture application, Justice Emeka Nwite held that both Oceangate and Ms Achimugu had failed to prove the funds were legitimately earned. He rejected the argument advanced by Oceangate’s counsel, Darlington Ozurumba, that the US$13 million derived from gifts to Ms Achimugu and earnings from gas‑ and oil‑related contracts, finding the claim unsupported by material facts.

Despite the ruling, Oceangate said its operations remained unaffected. The company reaffirmed its commitment to Nigeria’s energy sector, its role in job creation and its economic contributions, and sought to reassure employees, clients and business partners of its adherence to transparency and the rule of law. It thanked those who had expressed support following the court’s decision and reiterated that Nigeria remained a viable destination for investment.

Separately, a group calling itself The New Gatekeepers has alleged a clandestine and sinister agenda linking the Lagos State Governor, Babajide Sanwo‑Olu, to the Oceangate matter. In a statement delivered by the group’s leader, Jamiu Akande, The New Gatekeepers described media narratives suggesting an EFCC investigation of the governor as unfounded and misleading, and said they formed part of a deliberate campaign intended to undermine the governor’s reputation ahead of the post‑Sanwo‑Olu period.

“We strongly condemn the recent media narratives being spread against the Governor of Lagos State,” Mr Akande said. “These claims are unfounded and appear to be part of a broader agenda aimed at undermining the governor’s reputation and the progress being made in the state. We urge the public to critically evaluate the sources of this information and to refrain from spreading unverified claims. It is better to focus on constructive dialogue and support efforts to promote transparency and good governance.”

He added that such allegations “undermine public trust and the integrity of our institutions” and called for thorough investigations to ensure accountability. Mr Akande warned against what he described as an orchestrated smear campaign, urging media platforms and civil society to uphold integrity and accountability and to prioritise fact‑based discourse.