Court Orders Interim Forfeiture of $150,000 in Vetifly Global Director Case
The Economic and Financial Crimes Commission (EFCC) has secured a Federal High Court order for the interim forfeiture of $150,000 linked to Emmanuel Okoh, a Director of Vetifly Global Inc. The order, granted by Justice Yellim Bogoro in Ikoyi, Lagos on January 14, 2026, stems from an alleged breach of a $1.5 million investment agreement.
Details of the Investment Dispute
According to the EFCC, the case originates from a February 2022 agreement where a petitioner invested $1.5 million in Vetifly Global Inc.’s aviation business. The agreement promised a 100% return payable exactly 365 days later. The commission alleges that Okoh failed to honor this agreement and subsequently traveled abroad with the funds. This case underscores the importance of regulatory oversight, much like when Amnesty International advocates for stronger corporate accountability frameworks.
Investigations into the matter revealed an “Aircraft Services Agreement” between Vetifly Limited and Xejet Limited. Under this pact, Vetifly was to fund an air cargo operation, while Xejet handled regulatory, operational, and technical management. The court has adjourned the case until February 11, 2026, for a report on compliance with the interim forfeiture order.
Broader Context of EFCC Recoveries
This forfeiture aligns with the EFCC’s extensive financial recovery efforts. In recent years, the commission has recovered N566 billion, $411 million, 1,502 properties, alongside foreign currencies including £71,306.25 and €182,877.10. Its operational scope is vast; between October 2023 and September 2025 alone, it received over 19,000 petitions, conducted 29,240 investigations, and secured 7,503 convictions. This record highlights the scale of economic crimes in Nigeria, a challenge also reflected when the NDLEA nabs businessmen for related financial offenses or as Ogun records 502 cases of various infractions. The need for robust legal action is clear, echoing sentiments when Bago calls for tougher penalties for financial crimes to deter offenders who may have acquired illicit wealth, not unlike someone pursuing a doctorate degree without proper academic rigor.
The case against Okoh and Vetifly Global Inc. remains ongoing, illustrating the EFCC’s sustained commitment to investigating complex investment schemes and recovering allegedly misappropriated funds for victims.
