EFCC: Court Orders Forfeiture of $150,000 Linked to Vetifly Global Director Emmanuel Okoh

Court has ordered the forfeiture of $150,000 linked to Vetifly Global Director Emmanuel Okoh.

 

NewsOnline Nigeria reports that the Economic and Financial Crimes Commission (EFCC) has obtained an order from the Federal High Court for the interim forfeiture of $150,000 linked to Emmanuel Okoh, Director of Vetifly Global Inc.

 

The anti-graft agency disclosed the development on Thursday via its official X account.

 

According to the EFCC, the order was granted by Justice Yellim Bogoro of the Federal High Court sitting in Ikoyi, Lagos, on Wednesday, January 14, 2026, following allegations of a breached $1.5 million investment agreement.

 

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The commission said the dispute dates back to February 2022, when a petitioner reportedly invested $1.5 million in Vetifly Global Inc.’s aviation business, with a guaranteed return of 100 per cent payable after 365 days.

 

“Justice Yellim Bogoro of the Federal High Court sitting in Ikoyi, Lagos, on Wednesday, January 14, 2026, ordered the interim forfeiture of the sum of $150,000 linked to Emmanuel Okoh, Director of Vetifly Global Inc,” the EFCC stated.

 

Investigations by the commission allegedly revealed that Okoh failed to honour the agreement and subsequently travelled out of the country with the funds, leaving the investor without recourse.

 

Details of the investment dispute

 

The EFCC explained that its findings uncovered an Aircraft Services Agreement between Vetifly Limited and Xejet Limited, under which Vetifly was to finance an air cargo operation, while Xejet handled regulatory, operational and technical management.

 

According to the agency, $1,499,990 was paid into Vetifly’s First Bank account on March 2, 2022, by REMX Capital Limited, a company linked to Vetifly Limited. The transaction was supported by Swift transfer documents submitted by the petitioner.

 

EFCC counsel, A.M. Dambuwa, subsequently filed a motion ex parte seeking the interim forfeiture of the $150,000, which the commission suspects to be proceeds of unlawful activity.

 

Justice Bogoro also directed the EFCC to publish the interim forfeiture order in a national newspaper to allow any interested party to appear and show cause why the funds should not be permanently forfeited to the Federal Government.

 

The case has been adjourned to February 11, 2026, for a report on compliance with the court’s order.

 

The EFCC noted that the forfeiture aligns with its broader recovery efforts, which have seen the agency recover over N566 billion, $411 million and 1,502 properties in recent years, alongside thousands of convictions for financial and economic crimes.