Court orders interim forfeiture of $150,000 linked to Vetifly Global Boss

Court orders forfeiture of $150,000 linked to Vetifly Global boss -  Businessday NG
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.

NiMet Secures Approval for Revised Conditions of Service in Major HR Reform

The Nigerian Meteorological Agency (NiMet) has finalised a comprehensive review of its Conditions of Service (CoS), marking a key milestone in the Agency’s efforts to modernise its human resource framework and align it with current public service standards and NiMet’s expanding operational responsibilities.
The review was achieved through close collaboration between NiMet Management and recognised staff unions, with both sides engaging in sustained dialogue and broad consultations. This cooperative approach ensured that the revised Conditions of Service address priority issues such as staff welfare, career progression, professionalism, and institutional efficiency, while supporting NiMet’s mandate of delivering timely and accurate weather and climate services.
Supported by the current administration, the revised document was processed through the appropriate statutory channels and has now received formal approvals from relevant oversight bodies. These include the Federal Ministry of Aviation and Aerospace Development and the Office of the Head of the Civil Service of the Federation (OHCSF), among others, officially validating the new Conditions of Service for implementation.
The updated framework provides clearer and more structured guidelines on appointments, promotions, career advancement, and disciplinary procedures. It also strengthens provisions on staff welfare, leave entitlements, and work–life balance, while standardising processes to promote fairness, transparency, and accountability in line with Federal Civil Service rules and best practices.
The revised CoS are expected to boost staff morale and motivation, leading to improved productivity and more efficient service delivery across the Agency. The reform underscores NiMet’s commitment to fostering a supportive work environment, strengthening human capital development, and equipping its workforce to meet the growing demand for reliable meteorological information critical to national development and public safety.
Management has encouraged all employees to familiarise themselves with the revised document, describing it as a comprehensive guide to their rights, responsibilities, and career development within the Agency.
NiMet reaffirmed its commitment to continuous institutional reforms aimed at enhancing efficiency, staff welfare, and excellence in service delivery, as part of its broader mission to support Nigeria’s socio-economic development through dependable and timely meteorological services.
FCMB Secures National Licence, Eyes Global Scale

FCMB Group Plc has secured a national banking licence for its flagship banking subsidiary after completing a major capital raise, positioning the lender to maintain domestic operations while pursuing the higher capital threshold required for international status under Nigeria’s ongoing banking sector recapitalisation programme.

The development comes as the Central Bank of Nigeria’s (CBN) recapitalisation exercise, introduced in 2024, continues to expose differing strategies among lenders ahead of the March 31, 2026 deadline. Under the new framework, banks operating with international licences are required to maintain a minimum paid-up capital of N500bn, while national banks must meet a N200bn threshold.

Regulatory filings show that FCMB crossed the national requirement following the successful completion of a N147.5bn public offer in 2024, enabling it to secure the national licence for its banking subsidiary.

The move places the group ahead of the minimum requirement for domestic banking operations and provides operational continuity as the recapitalisation process unfolds.

The group is now targeting the international licence benchmark through further capital raising initiatives.

These include a N160bn offer launched in late 2025 and a shareholder-approved capital raising programme of up to N400bn, subject to regulatory approvals.

If completed, the additional funds would lift FCMB above the N500bn threshold, expanding its operational scope beyond national borders.
Several tier-one banks, including Access Bank, Zenith Bank, Guaranty Trust Bank, United Bank for Africa, Fidelity Bank and First Bank of Nigeria, have already announced transactions that place them above the international capital requirement.

In contrast, other lenders such as Stanbic IBTC Holdings and Wema Bank are expected to retain national licences, reflecting varied balance-sheet positions and strategic priorities.
Market analysts say the divergence in approaches underscores differences in capital strength, risk appetite and timing rather than regulatory pressure. According to one fund manager, the recapitalisation framework allows flexibility in execution, noting that the key risk lies in missing the deadline rather than the pace at which capital is raised.

The recapitalisation exercise is also reshaping the broader banking landscape through mergers, asset divestments and strategic realignments. Smaller lenders are increasingly opting for regional or niche licences, while non-interest banks have largely met their capital requirements.

For FCMB, analysts say the outcome remains optional rather than existential. The national licence ensures business continuity, while securing an international licence would enhance strategic flexibility and growth prospects.

With market conditions still volatile, the final phase of the recapitalisation programme is expected to test execution capabilities across Nigeria’s banking sector.

Nigeria Regulator Says Qatar Airways Flight Return Was Precautionary, Not An Emergency

Nigeria’s aviation regulator said Saturday that a Qatar Airways flight from Lagos to Doha returned to Lagos on Friday as a precaution after the crew detected a technical alert, dismissing reports that described the incident as an emergency.

Qatar Airways flight QR1406 turned back to Murtala Muhammed International Airport on Friday after the cockpit crew identified the issue during the flight. The aircraft landed normally and safely, with all 248 passengers and 12 crew on board, disembarking without incident, the Nigerian Civil Aviation Authority said.

“An air return due to a technical alert that landed normally and safely without incident is standard aviation practice,” said Michael Achimugu, director of public affairs and consumer protection at the NCAA. “There was no incursion, no excursion and no crash landing.”

The regulator said precautionary air returns are a routine part of global aviation safety protocols designed to prioritise passenger safety and allow technical issues to be addressed on the ground.

In a statement issued Saturday, Qatar Airways said the cockpit crew followed established operational procedures and acted in the interest of safety.

“The cockpit crew followed all established safety procedures, and the aircraft landed safely in Lagos,” the airline said. “The safety of our passengers and crew remains our highest priority.”

Qatar Airways said passengers were assisted on arrival and rebooked on the next suitable flights to reach their destinations, apologising for any inconvenience caused.

Aviation and emergency authorities said the coordinated response to the aircraft’s return demonstrated the effectiveness of Nigeria’s aviation safety oversight and emergency preparedness. The NCAA said the incident underscores the professionalism of international carriers operating in Nigeria and reflects safety systems working as designed.

Seplat Energy Reaffirms Responsible Operations, Backs NGX’s Net-Zero Drive

 Seplat Energy Plc has reiterated that oil and gas will continue to play a critical role in Nigeria’s energy mix, while stressing the need for operators to conduct their activities responsibly, efficiently, and sustainably.

This position was articulated by Mr. Okechukwu Mba, Director, Gas & New Energy, Seplat Energy Plc, who represented the Company’s Chief Executive Officer, Mr. Roger Brown, at a high-level climate roundtable organised by the Nigerian Exchange Group (NGX Group) in partnership with DEG, Germany’s development finance institution, and Africa Foresight Group (AFG) in Lagos.

Speaking at the event, Mr. Mba noted that the real issue facing Nigeria’s energy sector is not whether oil and gas should exist, but how operators manage their responsibilities to the environment, society, and the economy.

“Oil and gas will remain an important part of Nigeria’s energy mix for some time to come. The right conversation is not whether oil and gas should exist, but how operators conduct themselves responsibly,” he said.

He emphasised that responsible operations must be driven by concrete actions, including improved efficiency, reduced emissions, and credible offsetting strategies.

At Seplat Energy, Mr. Mba explained, this commitment is already being translated into measurable outcomes. He disclosed that the company had launched a comprehensive programme several years ago to end routine gas flaring across all its onshore operations, adding that by the end of last year, all the projects required to achieve this milestone had been delivered and were currently at the commissioning stage.

“Very soon, we will be able to clearly state that routine flaring has ended in our onshore operations. This is an important milestone that speaks to our stewardship of the environment, while remaining focused on delivering energy to the nation,” he said.

He further highlighted Seplat Energy’s deployment of technology to enhance operational efficiency, including real-time monitoring of emissions across pipelines, valves, plants, and other critical infrastructure, supported by a robust asset integrity programme designed to identify and eliminate emissions.

Beyond operational measures, Mr. Mba said the company is also implementing nature-based solutions to offset emissions. In one of its host communities in Edo State, Seplat Energy has launched an afforestation programme committing to plant millions of trees over a five-year period, with the first phase already completed.

He also pointed to the company’s investments in gas and LPG infrastructure as part of efforts to reduce emissions beyond its direct operations. According to him, expanding access to LPG helps reduce reliance on firewood, charcoal, and other biomass fuels, particularly in communities outside major cities.

Following Seplat Energy’s offshore acquisition, he noted that LPG that was previously exported has now been redirected to the domestic market, significantly improving availability, affordability, and overall market quality.

Mr. Mba also underscored the urgent need for financing to support Nigeria’s energy transition, particularly gas and gas-to-power projects, noting that while only about five gigawatts of electricity currently come from the national grid, a much larger share of power is self-generated through petrol and diesel generators that produce significantly higher emissions.

“If we replace these inefficient power sources with gas-powered energy, we can achieve substantial decarbonisation. But without adequate financing, these projects cannot be implemented, and the benefits will not be realised,” he said.

The event marked the launch of the NGX Net-Zero Programme (N-Zero), an initiative designed to support listed companies in defining net-zero pathways, improving climate-related disclosures, and aligning with global investor expectations. The programme is expected to unlock between $2.5 billion and $3.1 billion in climate-linked capital for Nigerian companies.

Speaking at the launch, Dr. Umaru Kwairanga, Group Chairman of NGX Group, said Africa’s capital markets must take a leading role in driving climate action and sustainable growth, adding that the NGX Net-Zero Programme would help companies move from climate ambition to measurable action.

Also presenting the investment case, Mr. Temi Popoola, Group Managing Director of NGX Group, noted that climate risk has become a critical factor in valuation and capital allocation globally, while Ms. Monika Beck, a member of the Management Board of DEG, said the partnership aligns with DEG’s strategy of mobilising private capital to accelerate climate action while delivering measurable development impact.

Heirs Insurance Hackathon Opens: Nine University Students Will Be Rewarded With N9million Innovation Prize

 Heirs Insurance Group (HIG), Nigeria’s fastest-growing insurance group, calls for applications for the maiden edition of the Heirs Insurance Hackathon, a technology-driven innovation programme designed to empower young students shape the future of insurance through Artificial Intelligence and digital solutions.
The Hackathon is open only to students in universities, polytechnics, and other tertiary institutions to build solutions for real-world challenges across the insurance value chain, from customer experience and claims processing to underwriting, distribution, data, and operational efficiency.
Registration closes on February 16, 2026, with winning teams to be announced at the Hackathon Grand Finale in April. A total prize pool of ₦9 million will be awarded to the top three teams.
The initiative reflects Heirs Insurance Group’s commitment to youth empowerment, digital skills development, and inclusive innovation, providing a platform for young Nigerians to apply emerging technologies to critical financial services challenges while gaining exposure to industry, mentorship, and real business problems.
The Hackathon is being delivered in partnership with Redtech, the digital payment solutions arm of Heirs Holdings, which will bring its technical expertise to support the programme and review submitted solutions, ensuring that ideas are evaluated not only for creativity but also for technical feasibility, scalability, and real-world impact.
Commenting on the launch, Peace O. Philips, Chief Digital Officer, Heirs Insurance Group, said: “Africa’s future will be built by young people who have the opportunity to apply their ideas, creativity, and technology skills to real economic challenges. Through the Heirs Insurance Hackathon, we are giving the next generation of innovators a platform to engage with the insurance industry, build meaningful solutions, and contribute to shaping a more efficient and inclusive financial system.”
Entries can be submitted on the Heirs Insurance Group website at www.heirsinsurancegroup.com/hackathon/
Heirs Insurance Group is the insurance arm of Heirs Holdings, the leading pan-African investment company, with investments across 24 countries and four continents. With a rapidly expanding retail footprint and an omnichannel digital presence, Heirs Insurance Group, comprising Heirs General Insurance Limited, Heirs Life Assurance Limited, and Heirs Insurance Brokers, serves both corporate and individual customers across Nigeria.
Heirs Insurance Group is championing financial inclusion and leading the digital insurance play in Nigeria, demonstrating its mission to democratise access to insurance.
Fubara’s impeachment: Rivers Assembly confirms chief judge’s receipt of notice

The Rivers State House of Assembly says the Chief Judge of the state has received and acknowledged official correspondence conveying notices of alleged gross misconduct against Governor Siminalayi Fubara and his deputy, Professor Ngozi Nma Odu.

The confirmation was contained in a statement issued by the Assembly’s spokesperson and Chairman of the House Committee on Information, Petitions and Complaints, Hon. Dr. Enemi Alabo George.

The Assembly disclosed that all relevant documents, including the notices containing the allegations against the governor and his deputy, were attached to the correspondence.

Enemi said the notice has been received and acknowledged.

DAILY POST reports that the development followed the Friday plenary proceedings where the lawmakers vowed to proceed with the impeachment initiated last week

The statement said that the lawmakers considered the need to proceed with the impeachment in line with Section 188(3) of the 1999 Constitution (as amended).

According to them, the constitution allows the assembly to investigate allegations of gross misconduct against a sitting governor and deputy governor.

Impeachment: Wike wants to remove Fubara, bring his loyalist – Baba Yusuf

A political strategist, Baba Yusuf, has accused the FCT Minister, Nyesom Wike, of doing everything to remove Governor Siminalayi Fubara of Rivers State and enthrone his loyalist.

Yusuf made this allegation on Friday during an interview on Arise Television’s ‘Prime Time’ monitored by DAILY POST.

He said: “Wike has taken this recalcitrant position despite several interventions by President Bola Tinubu even in his favour.

“It got to the point where Mr President has to take tough decisions of suspending the democratic institution in Rivers for six months. Obviously, it’s a fight to finish.

“If you look at the entire game plan now, some days ago, we saw some of them shifting ground, today, they made a U-turn.

“If you look at the Constitution of the Federal Republic of Nigeria 1999 (as amended), we all know that Chapter six, Section 191 provides for the Speaker to take over in the event that the governor and the deputy are impeached.
“Wike wants to upend Fubara and bring his stooge into office by virtue of impeachment.

“If this happens, Martin Amaewhule, who is the speaker of the Rivers State Assembly, will emerge as acting governor as is provided by the 1999 constitution as amended.”

Health fellows will strengthen disease surveillance, outbreak response in Kano – LG chairman Gaya

Mahmud Tajo Sani Gaya, Executive Chairman of Gaya Local Government and the Association of Local Governments of Nigeria (ALGON) representative on healthcare matters in Kano State, has said that health fellows being recruited under a federal government initiative will strengthen disease surveillance and improve outbreak response across the state.

Dr Gaya disclosed this on Friday at the Emergency Operations Centre (EOC) while speaking during the final stage of interviews for the Federal Health Fellowship Programme.

According to him, the programme is designed to ensure that healthcare delivery at the local government level meets national and global standards, particularly in the early detection of and response to disease outbreaks.

“Health fellows will play a key role in disease surveillance at the grassroots. They will be among the first responders when outbreaks occur in our communities,” he said.

Gaya explained that more than 100,000 health professionals and allied cadres applied for the fellowship nationwide, from which candidates were screened by the Federal Ministry of Health.

He said Kano State received 132 shortlisted candidates, representing three candidates from each of the state’s 44 local government areas, who were interviewed over a five-day period that began on Monday.

“At the end of the process, one fellow will be selected per local government. That means Kano will have 44 health fellows who will support healthcare delivery, surveillance and emergency response at the local level,” he said.

He stressed that transparency and fairness guided the selection process, noting that the interview panel included medical doctors from various specialisations, representatives of the World Health Organization (WHO), state ministries of health, academia, the emirate council, ALGON, the Primary Health Care Management Board, and the Ministry of Health.

Gaya also said the fellows would undergo a series of training sessions before deployment.
“After the final selection, they will be invited to Abuja for general training. When they return, there will be step-down trainings, on-the-job trainings and continuous capacity building to ensure they are fully prepared,” he added.

He noted that the presence of trained health fellows at the grassroots would help close existing gaps in primary healthcare, particularly in hard-to-reach communities.

Man seeks justice as nine-month-old Lagos twins allegedly die after immunisation

A Lagos father, Samuel Alozie, is seeking justice after his nine-month-old identical twin sons, Testimony and Timothy, allegedly died 24 hours after receiving routine immunisation at a primary health care centre in Lagos.

Alozie, who shared a heartbreaking video on TikTok showing the twins’ remains in body bags, has sparked widespread outrage.

According to Alozie, the twins became weak and lethargic after receiving the injection, and despite adhering to the instructions given by the nurse at the health care centre, they died on Christmas Day, 25 December 2025.

He claimed the twins were healthy and had no prior illnesses before taking them to the centre and therefore suspects foul play.

“They were strong and sound. I took them for immunisation not because they were sick, but because it was the right thing to do.

“They were very weak after the injection. We gave them paracetamol as instructed, but nothing changed. By the next morning, both of them were gone.”

The grieving father denied claims from the primary health care centre alleging that the deaths were caused by food-related bacteria.

Expressing concern about the investigation into the issue, he said he is afraid the outcome may be manipulated, since the health care centre is a government facility.

He appealed for legal and public support, saying, “I cannot afford to pursue justice alone, and I am also scared I may not get justice. I need justice for them.”

The Lagos State Ministry of Health and the Primary Health Care Board have yet to comment on the incident or release the autopsy results.