Achimugu’s firm to appeal $13m forfeiture judgement

Oceangate Engineering Oil & Gas Limited says it has commenced the process of filing an appeal against the final forfeiture order of $13 million linked to its founder, Aisha Achimugu, and the company.

On Wednesday, a federal high court in Abuja granted an order of final forfeiture of the $13 million linked to Achimugu and the company.

The ruling followed a suit filed by the the Economic and Financial Crimes Commission (EFCC), challenging the ownership of the funds, which it said were proceeds of unlawful activities.

In a statement on Wednesday, the Oceangate Engineering Oil & Gas said it was founded with one clear purpose, to contribute to Nigeria’s energy sector and create meaningful opportunities for Nigerians.

The company said its purpose remains unchanged and will not be affected by the federal high court’s ruling.

“To be clear about what this ruling is, and what it is not: this was a civil asset forfeiture order with no finding of wrongdoing against Oceangate or its leadership,” the statement reads.

“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.

“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.”

According to the statement, the appellate process exists for exactly this kind of outcome, “and we are confident that a thorough review of the facts will speak for itself and for the integrity with which this company has always operated”.

Oceangate said it employs a significant number of Nigerians and contributes meaningfully to the country’s economy.

“That work continues, and we remain committed to it. To our employees, partners, clients, and the many Nigerians who have reached out today, thank you,” the company said.

“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.

“We also reaffirm our belief in Nigeria as a land of equity, growth, and opportunity and a viable destination for enterprise and investment.”

Oceangate expressed confidence that justice will ultimately be served.(The cable)