The Economic and Financial Crimes Commission (EFCC) has secured an order of interim forfeiture of $150,000 linked to a director of Vetifly Global Inc., Emmanuel Okoh.
The commission disclosed the development on Thursday, January 15, via its official 𝕏 (formerly Twitter) handle.
Naijaonpoint reports that the order was granted following allegations that Okoh reneged on a $1.5 million investment agreement, prompting the anti-graft agency to initiate legal action to recover part of the funds.
According to the EFCC, Justice Yellim Bogoro of the Federal High Court sitting in Ikoyi, Lagos, granted the interim forfeiture order on Wednesday, January 14, 2026.
The dispute, the commission said, dates back to February 2022, when a petitioner reportedly invested $1.5 million in Vetifly Global Inc.’s aviation business, with an agreed 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 $150,000.00 (One Hundred and Fifty Thousand Dollars) linked to one Emmanuel Okoh, Director, Vetifly Global Inc,” the EFCC stated.
The commission alleged that Okoh failed to honour the investment agreement and subsequently travelled out of the country with the funds, leaving the petitioner without any form of repayment.
Investigations, according to the EFCC, revealed the existence of an “Aircraft Services Agreement” between Vetifly Limited and Xejet Limited.
Under the agreement, Vetifly was to provide funding for an air cargo operation, while Xejet Limited was responsible for regulatory compliance, operational control and technical management of the business.
The EFCC further disclosed that investigations 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 commission said, was consistent with Swift transfer documents submitted by the petitioner in support of the claim.
EFCC counsel, A.M. Dambuwa, subsequently filed a motion ex parte before the court, seeking the interim forfeiture of the $150,000, which was suspected to be proceeds of unlawful activity.
Publication Order, Adjournment
Naijaonpoint reports that Justice Bogoro, in granting the application, also directed the EFCC to publish the 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 court adjourned the matter until February 11, 2026, for a report on compliance with the interim forfeiture order.
The latest forfeiture adds to the EFCC’s growing record of financial recoveries in recent years.
According to figures released by the commission, it has recovered over ₦566bn, $411m and 1,502 properties within the period under review.
Between October 2023 and September 2025, the EFCC received more than 19,000 petitions, carried out 29,240 investigations, filed 10,525 cases in court and secured 7,503 convictions.
The commission also recovered foreign currencies, including £71,306.25 and €182,877.10, underscoring the scale of financial crimes being investigated and its sustained efforts to recover misappropriated funds.