Ex-NSITF Boss, Ngozi Olejeme Arraigned Over Alleged N1bn Fraud
The Economic and Financial Crimes Commission (EFCC) has arraigned Ngozi Olejeme, former board chairman of the Nigeria Social Insurance Trust Fund (NSITF), before a Federal High Court in Abuja over an alleged N1 billion fraud.
The spokesperson of the EFCC, Dele Oyewale, who disclosed this in a statement on Friday, said she was arraigned on an 8- count charge bordering on converting, transferring, procuring and taking possession of proceeds of unlawful activity to the tune of N1 billion.
According to the statement, “Count one of the charge reads, “That you Mrs Ngozi Olejeme while being the Board Chairman of the Nigeria Social Insurance Trust Fund (NSITF) sometime in February 2012, in Abuja within the jurisdiction of this Honorable Court indirectly converted the sum of N321,600 .000 (Three Hundred and Twenty One Million, Six Hundred Naira) paid into the Sterling Bank plc account of ADIN MILES INTERNATIONAL LTD in 9th of February 2012 knowing that the funds constituted proceeds of unlawful activity and you thereby committed an offence contrary to Section 15(2) (b) and punishable under Section 15(3) of the Money Laundering (Prohibition) Act, 2011(As amended by Act No.1 of 2012).”
Count 5 of the charge read, “That you Mrs Ngozi Olejeme while being the Board Chairman of the Nigeria Social Insurance Trust Fund (NSITF) on or about the 9th of February, 2012 in Abuja within the jurisdiction of this Honorable Court procured Chuka C. Eze to convert the sum of $2,000,000 (Two Million Dollars) into Naira for payment to ADIN MILES INTERNATIONAL LTD when you knew that the said $2,000,000 constituted proceeds of unlawful activity and thereby committed an offence contrary to Section 18© and punishable under Section 15(3) of the Money Laundering (Prohibition Act, 2011 (as amended by Act No 1 of 2012).”
The statement said she pleaded not guilty to all the charges when read to her which prompted the prosecuting counsel, Emenike Mgbemele, to ask the court for a trial date to call 14 witnesses.
However, defense counsel, Emeka Ogbogulo, SAN, called the attention of the court to a bail application, praying the court to grant the defendant bail till trial date.
Justice Nwite released the defendant to her counsel and adjourned the matter to November 17, 2025, for hearing of bail application.