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 an eight-count charge bordering on money laundering and conversion of public funds to the tune of ₦1,000,000,000 (One Billion Naira).
According to the charges filed by the EFCC, Mrs. Olejeme is accused of converting, transferring, procuring, and taking possession of funds alleged to be proceeds of unlawful activity during her tenure as NSITF Board Chair.
One of the counts 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 ₦321,600,000 paid into the Sterling Bank Plc account of Adin Miles International Ltd on 9th February 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).”
Another count alleges that Olejeme procured one Chuka C. Eze to convert $2 million into Naira for payment to the same company, also knowing the money was derived from unlawful activity.
Upon reading of the charges, Mrs. Olejeme pleaded not guilty to all counts. The prosecution counsel, Emenike Mgbemele, requested a trial date, informing the court that the EFCC intends to call 14 witnesses to prove its case.
In response, defense counsel, Emeka Ogboguo, SAN, drew the court’s attention to a pending bail application and pleaded for the defendant to be released pending the determination of the motion.
Ruling on the request, Justice Emeka Nwite released the defendant to her counsel and adjourned the matter to November 17, 2025, for hearing of the bail application.
The case adds to the list of ongoing high-profile corruption cases linked to the mismanagement of public funds under previous administrations, as the EFCC continues its effort to strengthen accountability in Nigeria’s public institutions.
By Fikunmi Sokoya
For more exclusive EFCC, legal and anti-corruption updates, visit fasnewsng.com or email [[email protected]](mailto:[email protected]) for inquiries and advert placements.