EFCC Secures Interim Forfeiture of $150,000 Linked to Vetifly Global Director

The Economic and Financial Crimes Commission has obtained a Federal High Court order for the interim forfeiture of $150,000 linked to Emmanuel Okoh, a director of Vetifly Global Inc.

The commission disclosed the development in a statement issued on Thursday, noting that the order was granted by Justice Yellim Bogoro of the Federal High Court sitting in Ikoyi, Lagos.

The forfeiture stems from allegations that Okoh failed to honour the terms of a $1.5 million investment agreement, prompting legal action by the commission to recover part of the funds.

According to the EFCC, the dispute dates back to February 2022, when an investor committed $1.5 million to Vetifly Global’s aviation business, with an agreed return of 100 per cent payable after 365 days.

Investigations revealed the existence of an Aircraft Services Agreement involving Vetifly Limited and Xejet Limited, under which Vetifly was to fund an air cargo operation while Xejet handled regulatory and operational management.

The commission said $1,499,990 was deposited into Vetifly’s bank account through an associated entity, in line with transaction documents provided by the petitioner.

EFCC counsel filed a motion seeking interim forfeiture of $150,000 suspected to be proceeds of unlawful activity. The court granted the request and ordered that the forfeiture be published to allow any interested party to contest the action.

The matter has been adjourned until February 11, 2026, for a compliance report.