Achimugu Case: Oceangate Plans to Challenge $13 Million Asset Seizure Ruling

Oceangate Engineering Oil & Gas Limited, a prominent energy firm, has disputed the implications of a recent Federal High Court ruling that ordered the forfeiture of its assets, arguing that the decision did not establish any wrongdoing against the company or its leadership.

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The ruling came as a group, The New Gatekeepers, alleged a clandestine and sinister agenda linking Governor Babajide Sanwo-Olu of Lagos State with the Oceangate Engineering Oil & Gas Limited case, claiming it was a deliberate agenda setting, targeting the post-Sanwo-Olu era.

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A Federal High Court in Abuja recently ordered the sum of $13 million traced to businesswoman and socialite, Aisha Achimugu’s firm to be permanently forfeited to the Nigerian government, following a forfeiture application filed by the Economic and Financial Crimes Commission, EFCC.

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Delivering judgement on the forfeiture application, the judge, Emeka Nwite, held that both the company, Oceangate Engineering Oil & Gas Ltd, and Ms. Achimugu failed to prove that the money was legitimately earned, striking down the argument by Oceangate’s lawyer, Darlington Ozurumba, that the $13 million came from gifts to Ms Achimugu and earnings from gas and oil-related contracts.

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The judge held that the claim could not be substantiated by material facts, prompting the firm to describe the ruling as a civil asset forfeiture order predicated on suspicion rather than proof, stressing that it fell short of a criminal finding of liability.

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The company disclosed that it had already activated the appellate process, instructing its lawyers to challenge the ruling at a higher court, expressing confidence that a detailed judicial review would vindicate its operations and corporate conduct.

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Oceangate noted that the appellate process exists for exactly this kind of outcome, adding that it remained confident that a thorough review of the facts would speak for itself, as the firm’s operations remain unaffected by the ruling.

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Despite the ruling, the firm reaffirmed its commitment to Nigeria’s energy sector and its role in job creation and economic contribution, seeking to reassure stakeholders, including employees, clients, and business partners, of its adherence to transparency and the rule of law.

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Oceangate also thanked those who had expressed support following the court’s decision, reaffirming its long-term outlook and maintaining that Nigeria remained a viable destination for investment, expressing optimism that the judicial process would ultimately deliver justice.

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A group, The New Gatekeepers, has alleged clandestine and sinister agenda linking Governor Babajide Sanwo-Olu with the Oceangate Engineering Oil & Gas Limited case, saying it was a deliberate agenda setting, targeting the post-Sanwo-Olu era, according to the group’s leader, Jamiu Akande.

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Akande stated that the group strongly condemns the recent media narratives being spread against the Governor of Lagos State, alleging ongoing investigations by EFCC in connection with some going concerns, describing these claims as unfounded and misleading.

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The group urged the public to critically evaluate the sources of this information and to refrain from spreading unverified claims, focusing instead on constructive dialogue and support efforts to promote transparency and good governance.

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Akande emphasized that such claims undermine public trust and the integrity of institutions, and it is crucial that all allegations are thoroughly investigated to ensure accountability and transparency.

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The group stood firm in its commitment to uphold the rule of law and maintain ethical governance, urging all stakeholders to promote integrity and work collaboratively to address any issues that may arise, reinforcing their dedication to serving the public interest.

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The New Gatekeepers found it imperative to address and condemn the subtle and quietly brewing campaign of misinformation and false speculation targeting the Governor of Lagos State, describing the narrative that he is under investigation by the EFCC as patently false.

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According to the group, these claims are not only baseless but are also part of a calculated agenda aimed at discrediting the governor ahead of his exit, and it is crucial to recognize the motivations behind these attacks, which appear to be driven by ulterior motives.

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The group warned that spreading unfounded allegations can have severe consequences, eroding public confidence in institutions and the democratic process, and it is essential for the public to critically assess the sources of information and refrain from sharing unverified claims.

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The New Gatekeepers called on all stakeholders, including media platforms and civil society, to uphold the principles of integrity and accountability, focusing on constructive dialogue and working collaboratively to support the governor’s efforts in promoting good governance, transparency, and development for the people of Lagos State.

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In conclusion, the group emphasized the importance of standing united against falsehoods and prioritizing the truth, ensuring that discourse is rooted in facts rather than unfounded speculation, to foster a political environment that prioritizes the welfare of citizens and strengthens the institutions that serve them.