EFCC arraigns ex-NSITF chairperson Olejeme over alleged N1bn fraud

The Economic and Financial Crimes Commission (EFCC) has arraigned Ngozi Olejeme, former chairperson of the board of the Nigeria Social Insurance Trust Fund (NSITF), before a federal high court in Abuja over alleged N1 billion money laundering.

Olejeme was arraigned on Wednesday on an eight-count charge bordering on converting, transferring, procuring, and taking possession of proceeds of unlawful activity.

According to the EFCC, Olojeme allegedly diverted several funds belonging to the agency between 2012 and 2015 while serving as the chairperson of the board.

“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 honourable court, indirectly converted the sum of N321,600,000 (three hundred and twenty-one million, six hundred thousand naira) paid into the Sterling Bank account of Adin Miles International Ltd on February 9, 2012, knowing that the funds constituted proceeds of unlawful activity, and 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),” one of the counts reads.

“That you, Mrs. Ngozi Olejeme, while being the board chairman of the Nigeria Social Insurance Trust Fund (NSITF), on or about February 9, 2012, in Abuja, within the jurisdiction of this honourable 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, knowing that the said $2,000,000 constituted proceeds of unlawful activity, thereby committing an offence contrary to Section 18(c) and punishable under Section 15(3) of the Money Laundering (Prohibition) Act, 2011 (as amended by Act No. 1 of 2012).”

She pleaded not guilty to all the charges, following which Emenike Mgbemele, the EFCC counsel, requested a trial date, stating that the prosecution intends to call 14 witnesses.

However, Emeka Ogboguo, the defence counsel, drew the court’s attention to a pending bail application and urged the judge to grant his client bail pending trial.

Emeka Nwite, the presiding judge, ordered that the defendant be released to her counsel and adjourned the case to November 17 for hearing of the bail application.

The EFCC had declared Olejeme wanted in September 2017 over allegations of “criminal conspiracy, abuse of oﬃce, diversion of public funds and money laundering” to the tune of N69 billion.

In July 2020, a federal high court sitting in Abuja ordered the interim forfeiture of 48 properties allegedly owned by the former NSITF boss.

In October 2021, she was arraigned on a nine-count charge before Maryam Hassan Aliyu, judge of a federal capital territory (FCT) high court.