₦1 Billion Scandal: EFCC Drags Ex-NSITF Chair, Ngozi Olejeme, To Court Over Money Laundering Allegations

The Economic and Financial Crimes Commission (EFCC) has arraigned Dr. Ngozi Olejeme, a former chairperson of the Nigeria Social Insurance Trust Fund (NSITF), before the Federal High Court in Abuja on allegations of ₦1 billion money laundering.....KINDLY READ THE FULL STORY HERE▶

Olejeme, who headed the NSITF board between 2012 and 2015, was brought before Justice Emeka Nwite on Wednesday to face an eight-count charge involving alleged conversion, transfer, and possession of proceeds derived from unlawful activities.

According to the EFCC charge sheet, the former NSITF boss was accused of diverting large sums of public funds during her tenure.

One of the counts reads:

“That you, Mrs. Ngozi Olejeme, while serving as 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 ₦321,600,000 paid into the Sterling Bank account of Adin Miles International Ltd on February 9, 2012, knowing that the said funds represented 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).”

Another count alleged that she procured one Chuka C. Eze to convert $2 million into naira for payment to the same company, fully aware that the funds were linked to illegal activity.

Olejeme pleaded not guilty to all charges. Following her plea, EFCC counsel Emenike Mgbemele requested the court to fix a trial date, revealing plans to call 14 witnesses.

However, the defence counsel, Emeka Ogboguo, appealed to the court to consider a pending bail application.

Justice Nwite subsequently ordered Olejeme’s release to her lawyer and adjourned the matter to November 17 for hearing on the bail application.

The EFCC had earlier declared Olejeme wanted in September 2017 over allegations of criminal conspiracy, abuse of office, and diversion of public funds amounting to ₦69 billion.

In July 2020, a Federal High Court in Abuja ordered the interim forfeiture of 48 properties allegedly traced to her, and by October 2021, she was arraigned before an FCT High Court on a separate nine-count charge filed by the Commission.