Court Orders $150,000 Forfeiture Linked to Vetifly Boss Emmanuel Okoh in Money Laundering Probe

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 Judge gave the order, following a motion ex parte filed and argued by the Economic and Financial Crimes Commission, EFCC,through its counsel, A.M.Dambuwa.

Moving the application for the interim forfeiture, Dambuwa stated that the petitioner, sometime in February, 2022, invested the sum of $1,500,000.00 ( One Million, Five Hundred Thousand United States Dollars) in the aviation business of Vetifly Global Inc.

He stated that the parties agreed that Return on Investment (ROI) would be 100 percent of the investment sum, which would be paid exactly 365 calendar days from the date of issuance.

He also told the court that Okoh, however, reneged on the terms of agreement and also travelled out of the country, with the investment sum of $1.5m.

According to him, “All efforts by the petitioner to reach Okoh were unsuccessful, hence he approached the EFCC.

“Investigation conducted on the “Aircraft Service Agreement” between Velifly Limited and Zejet Limited led to the invitation of the Managing Director of the Xejet Limited, and one Emmanuel Ayuba Iza, who reported and volunteered a statement.

“In his statement to the Commission, Iza said that Okoh needed Air cargo and he approached Xejet Limited for a partnership through a letter written in July, 2021 for the purpose of cargo air service.

“An agreement named “Aircraft Services Agreement” was later executed between Vetifly Limited and Xejet Limited.

“The aircraft service agreement between Emmanuel Okoh and Xejet Limited is to the effect that Vetifly Limited will provide funding for an air cargo service operation while the Xejet Limited is to provide cargo aircraft and handle the regulatory, operation and technical aspect of the service.

“On March 2, 2022, the sum of $1,499,990.00 One Million, Four Hundred and Ninety-Nine Thousand, Nine Hundred and Ninety Dollars) was lodged by one REMX Capital Limited belonging to Vetifly Limited.

“The lodgement made to the First Bank account of Vetifly Limited on March 2, 2022 ( the sum of $1,499,990.00 (One Million, Four Hundred and Ninety-Nine Thousand, Nine Hundred and Ninety Dollars) is in correlation with the Swift document submitted by the petitioner.”

He, therefore, prayed the court to grant the application seeking an interim forfeiture of the property, which is reasonably suspected to be proceeds of unlawful activities.

In her ruling, Justice Bogoro granted the application, and also directed the Commission to publish the interim order in a national newspaper for any interested party to show cause why the final order of forfeiture should not be made in favour of the Federal Government of Nigeria.

The Judge adjourned the case till February 11, 2026 for a report of compliance.