EFCC Arraigns Former NSITF Boss for Alleged N1bn Fraud

opeolumartinOctober 13, 202504 mins

Abuja, October 8, 2025

The Economic and Financial Crimes Commission (EFCC) on Wednesday arraigned Mrs. Ngozi Olejeme, the former Board Chairman of the Nigeria Social Insurance Trust Fund (NSITF), before Justice Emeka Nwite of the Federal High Court, Maitama, Abuja. She faces an eight-count charge of converting, transferring, procuring, and taking possession of proceeds of unlawful activity amounting to One Billion Naira (N1,000,000,000).

Among the charges, Count One states:
“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 Honorable 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 on the 9th of 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).”

Count Five further alleges:
“That you, Mrs. Ngozi Olejeme, while being the Board Chairman of the Nigeria Social Insurance Trust Fund (NSITF) on or about the 9th of February, 2012, in Abuja within the jurisdiction of this Honorable 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 when you knew that the said $2,000,000 constituted proceeds of unlawful activity and thereby committed 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).”
Mrs. Olejeme pleaded not guilty to all the charges read against her.
Following her plea, the prosecuting counsel, Mr. Emenike Mgbemele, requested the court to set a trial date to call 14 witnesses in support of the charges.

However, the defense counsel, Senior Advocate of Nigeria (SAN) Emeka Ogbogulo, brought to the court’s attention a bail application on behalf of his client, praying the court to grant Mrs. Olejeme bail pending trial.

Justice Nwite granted the defendant bail to her counsel and adjourned the matter to November 17, 2025, for the hearing of the bail application.
The case marks another significant step by the EFCC in its ongoing efforts to clamp down on corruption and financial crimes within Nigeria’s public institutions.