A Federal High Court sitting in Ikoyi, Lagos, has ordered the interim seizure of $150,000 allegedly belonging to Emmanuel Okoh, director of Wetfly Global Inc., following an application by the Economic and Financial Crimes Commission (EFCC).
Yelim Bogoro (Justice) gave the order on Wednesday, January 14, 2026, after granting an ex parte motion filed and argued by the EFCC through its counsel AM Dambuwa.
The court held that the funds were reasonably suspected to be the proceeds of illegal activities and should be temporarily frozen pending further proceedings.
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According to the EFCC, the case arose from a petition by an investor who allegedly invested $1.5 million in the aviation business of Wetifly Global Inc. in February 2022.
The commission told the court that the investment was made under an agreement that promised 100 per cent return on investment (ROI), which was to be paid in exactly 365 calendar days from the date of release of funds.
However, the EFCC alleged that Okoh failed to honor the terms of the agreement and subsequently fled the country with the investment funds.
All efforts by the petitioner to reach it were unsuccessful, following which a formal complaint had to be filed with the Commission.
Dambuwa explained that the EFCC investigation focuses on the “Aircraft Services Agreement” executed between Wetifly Limited and Zejet Limited.
A statement by the EFCC Head of Media and Publicity, Dele Oyewale, said that as part of the investigation, the Managing Director of Zejet Limited and Emmanuel Ayuba Ejaa were invited for questioning.
In its petition to the commission, Iza revealed that Okoh had approached Zejet Limited in July 2021, seeking partnership to provide air cargo services.
“This led to the execution of an air services agreement whereby Wetifly Ltd was to provide funding for the air cargo operations, while Zejet Ltd was responsible for providing the cargo aircraft and handling the regulatory, operational and technical aspects of the service,” the statement said.
The EFCC further informed the court that on March 2, 2022, the sum of $1,499,990 was deposited by REMX Capital Limited into a First Bank account belonging to Wetifly Limited.
The Commission said the transactions relate to the SWIFT document submitted by the petitioner, which links the funds to the disputed investments.
Based on these facts, the EFCC urged the court to grant an interim confiscation order on $150,000 recovered from Okoh, pending the conclusion of the investigation and possible recovery of the alleged proceeds of crime.
In his ruling, Bogoro accepted the application and ordered the EFCC to publish the interim confiscation order in a national newspaper.
He directed that the publication should invite any interested party to appear in court and show cause why a final confiscation order should not be made in favor of the Federal Government of Nigeria.
The judge adjourned the case to February 11, 2026, for a report on compliance with the court's directions.
