The Federal High Court in Lagos has ordered the interim forfeiture of $150,000 allegedly linked to Emmanuel Okoh, a director of Vetifly Global Inc.
The judge, Yellim Bogoro, made the order on Wednesday after granting an ex parte application filed by the Economic and Financial Crimes Commission (EFCC).
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The EFCC’s spokesperson, Dele Oyewale, disclosed this in a statement shared with PREMIUM TIMES on Thursday.
The statement said the application was argued by EFCC lawyer, A. M. Dambuwa, who told the court that the funds were reasonably suspected to be proceeds of unlawful activities.
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According to Mr Dambuwa, a petitioner invested $1.5 million in February 2022 in the aviation business of Vetifly Global Inc under an agreement that promised a 100 per cent return on investment within 365 days.
He said Mr Okoh later breached the terms of the agreement and travelled out of the country with the investment funds.
“All efforts by the petitioner to reach Okoh were unsuccessful, hence he approached the EFCC,” the lawyer told the court.
Mr Dambuwa said investigations by the commission uncovered an “Aircraft Services Agreement” between Vetifly Limited and Xejet Limited.
He explained that the Managing Director of Xejet Limited and one Emmanuel Ayuba Iza were invited for questioning, during which Mr Iza volunteered a statement.
According to the EFCC, Mr Iza told investigators that Mr Okoh approached Xejet Limited in July 2021, seeking a partnership to operate an air cargo service.
An agreement was subsequently executed in which Vetifly Limited was to provide funding for the cargo operations, while Xejet Limited would supply the aircraft and handle regulatory, operational and technical aspects of the service.
The EFCC further told the court that on 2 March 2022, a total of $1,499,990 was lodged into Vetifly Limited’s First Bank account by REMX Capital Limited, a company linked to Vetifly.
Mr Dambuwa said the transaction corresponded with a SWIFT document submitted by the petitioner, strengthening the suspicion that the funds were linked to the alleged fraud.
He urged the court to grant an interim forfeiture order over the $150,000, pending the conclusion of investigations.
In her ruling, Mrs Bogoro granted the application and directed the EFCC to publish the interim forfeiture order in a national newspaper, inviting any interested party to show cause why the funds should not be permanently forfeited to the Federal Government.
The judge adjourned the matter until 11 February for a report of compliance.
Background
Mr Okoh and Vetifly Global Inc. have previously come under the scrutiny of the EFCC.
In March 2024, the EFCC declared Mr Okoh, identified as the Chief Executive Officer of Vetifly Global Inc., and the company’s Chief Operating Officer, Angel Odumodu, wanted over allegations of conspiracy, stealing and obtaining money by false pretence, according to a report by The Street Journal.
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The anti-graft agency said the allegations were linked to the operations of Vetifly Global Inc., a helicopter-booking and aviation services company that advertises helicopter charter, air shuttle services, sightseeing flights and luxury aviation services.
At the time, the EFCC urged members of the public with information on the whereabouts of the suspects to report to the nearest EFCC office or police station.
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