EFCC Secures Interim Forfeiture Of $150k Tied To Vetifly Director

According to Ireporter Online, the Economic and Financial Crimes Commission (EFCC) has obtained an order of interim forfeiture of $150,000 allegedly linked to Emmanuel Okoh, a director of Vetifly Global Inc., over an investment dispute.

The anti-graft agency announced the development on Thursday, January 15, through its official X handle, stating that the forfeiture followed allegations that Okoh failed to fulfil the terms of a $1.5 million investment agreement. The EFCC said the action was part of efforts to recover funds believed to be connected to the dispute.

The interim forfeiture order was granted by Justice Yellim Bogoro of the Federal High Court sitting in Ikoyi, Lagos, on Wednesday, January 14, 2026. The commission explained that the case originated from a February 2022 transaction in which a petitioner reportedly invested $1.5 million in Vetifly Global Inc.’s aviation business, with an agreement that the investment would yield a 100 per cent return after 365 days.

The EFCC alleged that Okoh failed to honour the agreement and subsequently left the country with the funds, leaving the investor without repayment. Further investigations, the commission said, 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 compliance, operational control and technical management.

According to the commission, records showed that $1,499,990 was paid by REMX Capital Limited, linked to Vetifly Limited, into Vetifly’s First Bank account on March 2, 2022. The payment, the EFCC noted, aligned with Swift transfer documents submitted by the petitioner in support of the claim.

EFCC counsel, A.M. Dambuwa, subsequently approached the court with a motion ex parte, requesting the interim forfeiture of the $150,000, which was suspected to be proceeds of unlawful activity. In granting the application, Justice Bogoro also ordered the EFCC to publish the forfeiture notice in a national newspaper, inviting any interested party to appear and show cause why the funds should not be permanently forfeited to the Federal Government.

The matter has been adjourned to February 11, 2026, for a report on compliance with the interim forfeiture order. The commission said the development further reflects its ongoing efforts to combat financial crimes and recover misappropriated assets.