EFCC Arraigns Former NSITF Boss, Ngozi Olejeme, Over Alleged N1bn Fraud

The Economic and Financial Crimes Commission (EFCC) on Wednesday, October 8, 2025, arraigned a former board chairman of the Nigeria Social Insurance Trust Fund (NSITF), Mrs. Ngozi Olejeme, before Justice Emeka Nwite of the Federal High Court, Maitama, Abuja, on allegations of money laundering and diversion of public funds.

Olejeme was docked on an eight-count charge bordering on converting, transferring, procuring, and taking possession of proceeds of unlawful activities amounting to N1 billion.

According to the EFCC, the alleged offences were committed during her tenure as board chairman of NSITF between 2012 and 2015.

One of the charges 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 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 Plc account of ADIN MILES INTERNATIONAL LTD, 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).”

Another count accused her of procuring one Chuka C. Eze to convert $2 million into naira for payment to ADIN MILES INTERNATIONAL LTD, knowing that the funds were proceeds of unlawful activity.

Mrs. Olejeme, however, pleaded not guilty to all charges when they were read to her.

Following her plea, prosecuting counsel Emenike Mgbemele requested the court to fix a date for trial, stating that the prosecution was ready to call 14 witnesses.

Defense counsel, Emeka Ogboguo, SAN, informed the court of a pending bail application and urged the judge to grant his client bail pending trial.

Justice Nwite granted a temporary release of the defendant to her counsel and adjourned the case to November 17, 2025, for the hearing of the bail application.

The EFCC has accused Olejeme, who chaired the NSITF board under the administration of former President Goodluck Jonathan, of misappropriating funds meant for workers’ social insurance contributions.