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Oceangate Engineering Oil & Gas LTD to appeal Federal High ruling over forfeiture assets

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Oceangate Engineering Oil & Gas LTD to appeal Federal High ruling over forfeiture assets

Oceangate Engineering Oil & Gas Limited has said it will appeal to the recent ruling of the Federal High Court ordering the forfeiture of certain assets.

Barr. Nnenna Onyeaso, the Company Secretary said in a statement on Thursday insisting that neither the company nor its leadership was found guilty of any wrongdoing.

Onyeaso said that the firm has 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.

According to her, the company maintains 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,” she said in a 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.

She added that the company remained confident that the facts of the case will ultimately affirm its integrity and business practices.

Onyeaso said that the firm also emphasised that its operations remained unaffected, stating that it continues to provide employment for 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.

She noted that Oceangate further expressed appreciation to its employees, partners, and clients for their continued support amid the development, assuring stakeholders of its commitment to transparency and accountability.

The Secretary said that the company reaffirmed its confidence in Nigeria as a viable destination for investment, describing the country as a land of equity, growth, and opportunity.

“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.

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Electric vehicles in Nigeria set for growth, says Tim Motors CEO

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Zhan

The Chief Executive Officer of Tim Motors, Mr Leon Zhan, has expressed optimism about the future of new energy vehicles in Nigeria, saying their acquisition and use will increase significantly in the coming years in line with global trends.

Speaking during an interactive session with journalists in Lagos on Friday, Zhan identified high acquisition costs and inadequate infrastructure as major challenges facing prospective buyers of electric and other new energy vehicles in the country.

Despite these constraints, he said ongoing improvements in the economy and rising purchasing power among Nigerians would help address the obstacles and accelerate the adoption of cleaner transportation technologies.

According to him, Nigeria’s relatively low electric vehicle penetration presents a significant opportunity for investors seeking to tap into the growing market for sustainable mobility solutions.

Zhan noted that increasing concerns over rising fuel prices could further drive interest in electric vehicles, making the sector an attractive area for future investment and expansion.

He expressed confidence that as awareness grows and supporting infrastructure improves, Nigeria will witness increased demand for new energy vehicles across various segments of the transportation industry.

“If you are deciding on an investment, you have to see the trend and space to grow. This is very important. Currently, electric vehicles have just about one or two per cent penetration in this market. In other markets like China, the penetration is about 70 per cent. So, if you look at the trend, you see the potential for growth in Nigeria,” he stated.

The CEO added that Chinese car companies are investing in Nigeria due to the size of the market, and they will be increasingly affordable.

He said: “Your country, Nigeria, is growing. So your purchasing power is also growing, and so, I’m sure years later, more and more people can afford Chinese cars with better and better prices.”

Tim Motors, he stated, would establish stations in several cities across the country to provide after-sales support for electric vehicles. This follows its recent introduction of Geely Galaxy new energy vehicles into Nigeria, under a sole distributorship arrangement with Geely Auto, one of China’s major forces in the country’s transition to new-energy mobility.

He also revealed that the company has put infrastructure in place in Abeokuta to facilitate local vehicle assembly in the country.

According to him, the decision by the company to introduce electric vehicles has been properly thought through, and it includes providing robust after-sales support to customers across the country.

He added that the company was aware of customers’ concerns about after-sales support, local availability of parts and access to power to charge their vehicles.

These issues, he explained, informed its decision to establish a special partnership arrangement to address customer issues and provide support centres across major cities in Nigeria.

“Many people ask how long and how far it is for them to get support if their EV cars have issues. This is why we have designed a system whereby we work with partners who will handle such. We have 10 already. We will have some in major cities like Abuja, Kano and Port-Harcourt in the coming months,” he said.

Zhan further revealed that Tim Motors has a plan whereby people who purchase their vehicles can easily get support within a five-kilometre radius of their residence or offices.

He added that the company has a professional team in China that is dedicated to sourcing and delivering parts for their vehicles in Nigeria.

He further revealed that more Geely Galaxy brands would be introduced in the coming months, stating that the EX2, EX5 and EX5 EM-I were just the first brands being brought into the market.

He added that the technology of Chinese electric vehicles was better than that of many other major auto manufacturers, and yet they are 20 to 30 per cent more affordable.

It will be recalled that Tim Motors recently introduced three Geely Galaxy models, the EX5 EM-i, the EX5, and the EX2, designed to meet diverse customer needs across the Nigerian market.

The EX5 EM- i is a smart family SUV that combines petrol and electric power for an extended driving range of more than 1000km, reduced fuel consumption, and lower emissions. For Nigerian families who want to spend less time at the fuel station and more time on the road, the EX5 EM-i delivers.

The EX5 is a value-focused mid-size SUV with a premium, tech-forward interior and over 430 km of driving range.

The EX2 is an all-electric subcompact hatchback built for the realities of city life. Affordable, intuitive to drive, and remarkably efficient, it is the answer for commuters tired of fuel queues and rising running costs.

Geely, which owns globally recognised brands including Volvo Cars, Polestar, and Lotus, has built a strong reputation for innovation, quality, and intelligent vehicle technologies across both New Energy Vehicle (NEV) and Internal Combustion Engine (ICE) markets. It ranks seventh globally by annual vehicle sales, with over 3.4 million units sold, placing it among the world’s most successful automotive manufacturers. Its footprint continues to grow across international markets.

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Glo rolls out enhanced borrowing solutions for customers

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Telecommunications company Globacom has enhanced its ‘Borrow Me Credit’ service, introducing new features aimed at ensuring subscribers remain connected even when they have insufficient airtime or data balance.

The company disclosed this in a statement issued in Lagos, noting that the eligibility requirements for the service have been simplified to enable millions of active prepaid customers to access instant airtime and data support when needed.

According to Globacom, the upgraded service now allows customers to borrow special data bundles as well as airtime and data on behalf of other subscribers. The new feature is designed to help users support friends and family members who may be unable to recharge immediately or are temporarily unreachable.

The company said the initiative reinforces its commitment to keeping customers connected during critical moments.

“Whether it is an urgent business call, a late-night research project, or staying in touch with loved ones during an emergency, Glo’s ‘Borrow Me Credit’ ensures that a low balance never results in a communication blackout,” the company stated.

Globacom clarified that while the service attracts a service charge, its primary objective is to provide immediate assistance to subscribers facing low or exhausted balances.

The telecom operator further stated that customers can access airtime and data loans ranging from N25 to N4,000, offering flexible options to meet varying communication needs.

It added that borrowing limits are determined by customers’ usage patterns and level of engagement on the network, with higher limits available to subscribers who maintain stronger usage profiles.

The enhanced service forms part of Globacom’s broader strategy to improve customer experience and expand access to digital communication solutions across the country.

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Geely Galaxy unveils EV vehicles in Nigeria, partners TIM Motors

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Geely Galaxy, the premium new-energy vehicle brand under Geely Auto Group, has made an official entry into the Nigerian market through a strategic partnership with TIM Motors.

Geely, which also owns globally recognised brands including Volvo Cars, Polestar, and Lotus, is one of China’s leading automotive manufacturers and a major force in the country’s transition to new-energy mobility.

In a special event in Lagos on Friday, the company unveiled three Geely Galaxy models, the EX5 EM-i, the EX5, and the EX2, designed to meet diverse customer needs across the Nigerian market.

The EX5 EM-i is a smart family SUV that combines petrol and electric power for extended driving range of more than 1000km, reduced fuel consumption, and lower emissions. For Nigerian families who want to spend less time at the fuel station and more time on the road, the EX5 EM-i delivers. The EX5 is a value-focused mid-size SUV with a premium, tech-forward interior and over 430 km of driving range. The EX2 is an all-electric subcompact hatchback built for the realities of city life. Affordable, intuitive to drive, and remarkably efficient, it is the answer for commuters tired of fuel queues and rising running costs.

Geely has built a strong reputation for innovation, quality, and intelligent vehicle technologies across both New Energy Vehicle (NEV) and Internal Combustion Engine (ICE) markets. It ranks seventh globally by annual vehicle sales, with over 3.4 million units sold, placing it among the world’s most successful automotive manufacturers. Its footprint continues to grow across international markets.

Thew General Manager of the Passenger Vehicle Business Unit at TIM International, Leon Zhan, expressed excitement about the brand’s arrival, confirming that the company is fully prepared to support ease of ownership and deliver reliable aftersales service through its nationwide network of service centres, spare parts availability, and warranty coverage.

“Electric vehicles represent the future of driving in Nigeria, and we are proud to bring that future closer to Nigerian consumers as the exclusive local partner of Geely Galaxy, a brand built on EV innovation, technology, and performance. We have a product that is a solution for the present challenges and future that people crave for. We are here not just to sell these brands, but to provide a full aftersales support structure covering spare parts and warranty servicing,” Zhan said.

Sales Lead, TIM Motors Abuja Office, Stephanie Odia, stated that the vehicles are fitted with many advanced safety technologies including a Level 2 Advanced Driver Assistance System. This feature, she explained has several functions such as the automatic emergency braking, adaptive cruise control, lane keeping assist, blind spot detection and 360-degree surround cameras.

She added that Geely Galaxy’s products were engineered to address what customers have long been asking for: lower fuel costs and vehicles that work within local infrastructure realities. The brand’s offerings, she opined, were designed to balance performance, affordability, and efficiency across its model range.

TIM Motors was appointed as Geely Galaxy’s exclusive general distributor in Nigeria on the strength of its continental sales network and its track record of customer support across Africa, giving Nigerian buyers the assurance of a partner who understands the local market.

The appointment reflects a commitment to making every customer interaction, from purchase to aftersales, seamless and reliable. TIM Motors’ proven experience across the African auto industry and its understanding of local customer needs are seen as central to Geely Galaxy’s success in Nigeria.

The launch event was held under the theme “Powering the Future,” reflecting Geely Galaxy’s vision of making intelligent, sustainable mobility more accessible to Nigerian consumers.

 

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