Ngozi Olejeme, a former board chairperson of the Nigeria Social Insurance Trust Fund (NSITF), was charged with N1 billion fraud by the Economic and Financial Crimes Commission (EFCC) in an Abuja Federal High Court.
Dele Oyewale, the EFCC spokesperson, said this in a statement on Friday. She was charged with eight counts related to the conversion, transfer, procurement, and possession of N1 billion in proceeds of illicit activities.
As stated in the statement, “Count one of the charges reads, “That you, Mrs. Ngozi Olejeme, while serving as the Board Chairman of the Nigeria Social Insurance Trust Fund (NSITF) 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 on February 9, 2012, knowing that the funds constituted proceeds of unlawful activity, you committed an offense against Section 15(2)(b) of the Money Laundering (Prohibition) Act, 2011 (modified by Act No. 1 of 2012).”
According to count five of the charge, “On or around February 9, 2012, in Abuja, within the jurisdiction of this Honorable Court, you, Mrs. Ngozi Olejeme, as the Board Chairman of the Nigeria Social Insurance Trust Fund (NSITF), 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 and thereby committed an offense against Section 18© and punishable under Section 15(3) of the Money Laundering (Prohibition Act, 2011 (as amended by Act No 1 of 2012)”).
According to the statement, she entered a not guilty plea to all of the allegations after being read them, which led to prosecuting attorney Emenike Mgbemele requesting a trial date so that 14 witnesses could be called.
Emeka Ogbogulo, SAN, the defense attorney, brought the court’s attention to a bail application, pleading with it to grant the defendant bail until the trial.
In order to hear the bail application, Justice Nwite postponed the case until November 17, 2025, and released the defendant to her attorney.
