EFCC arraigns Ngozi Olejeme, ex-NSITF Chair, 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 the Federal High Court in Maitama, Abuja, over allegations of laundering public funds amounting to ₦1 billion.
Olejeme appeared before Emeka Nwite (Justice) on Wednesday, where she faced an eight-count charge bordering on money laundering, conversion, transfer, and possession of proceeds of unlawful activity.
According to the EFCC, the offences were allegedly committed during her tenure as NSITF board chairman in 2012.
The commission alleged that Olejeme used her position to divert large sums of money belonging to the agency through companies linked to her.
One of the charges accused her of indirectly converting ₦321.6 million, paid into the account of Adin Miles International Ltd with Sterling Bank Plc on February 9, 2012, knowing the funds were proceeds of unlawful activity.
The EFCC maintained that the act contravenes Section 15(2)(b) and is punishable under Section 15(3) of the Money Laundering (Prohibition) Act, 2011, as amended in 2012.
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In another count, the anti-graft agency alleged that Olejeme procured one Chuka C. Eze to convert $2 million into naira for payment to the same company, Adin Miles International Ltd, despite knowing that the funds were proceeds of an unlawful act.
Olejeme, however, pleaded not guilty to all eight counts when they were read to her in court.
Emenike Mgbemele, EFCC’s prosecuting counsel, requested the court to fix a date for trial, stating that the commission was ready to call 14 witnesses to testify against the defendant.
However, Emeka Ogboguo, defence counsel, drew the court’s attention to a pending bail application and prayed that his client be granted bail pending the commencement of trial.
Nwite subsequently released the defendant to her counsel and adjourned the case to November 17, 2025, for the hearing of the bail application.
Olejeme, who chaired the NSITF during the administration of former President Goodluck Jonathan, has been under EFCC investigation for several years over alleged diversion of funds meant for the agency.
