EFCC arraigns former NSITF chair Ngozi Olejeme over alleged N1 billion fraud 

The Financial and Monetary Crimes Fee (EFCC) has arraigned a former board chairman of the Nigeria Social Insurance coverage Belief Fund (NSITF), Mrs. Ngozi Olejeme, for alleged involvement in a N1 billion fraud.

Based on the EFCC, Olejeme was arraigned earlier than Justice Emeka Nwite of the Federal Excessive Court docket in Maitama, Abuja, on Wednesday, October 8, 2025, on an eight-count cost bordering on cash laundering and conversion of funds.

The costs alleged that she transformed, transferred, and took possession of proceeds of illegal actions amounting to N1 billion.

Rely one of many costs reads: 

“That you simply Mrs. Ngozi Olejeme whereas being the Board Chairman of the Nigeria Social Insurance coverage Belief Fund (NSITF) someday in February 2012, in Abuja throughout the jurisdiction of this Honorable Court docket not directly transformed 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 ninth of February 2012 realizing that the funds constituted proceeds of illegal exercise and also you thereby dedicated an offence opposite to Part 15(2)(b) and punishable beneath Part 15(3) of the Cash Laundering (Prohibition) Act, 2011 (As amended by Act No.1 of 2012).” 

Rely 5 additionally said: 

“That you simply Mrs. Ngozi Olejeme whereas being the Board Chairman of the Nigeria Social Insurance coverage Belief Fund (NSITF) on or in regards to the ninth of February, 2012 in Abuja throughout the jurisdiction of this Honorable Court docket procured Chuka C. Eze to transform the sum of $2,000,000 (Two Million {Dollars}) into Naira for fee to ADIN MILES INTERNATIONAL LTD while you knew that the mentioned $2,000,000 constituted proceeds of illegal exercise and thereby dedicated an offence opposite to Part 18(c) and punishable beneath Part 15(3) of the Cash Laundering (Prohibition) Act, 2011 (as amended by Act No. 1 of 2012).” 

Court docket proceedings 

Olejeme pleaded not responsible to all the costs once they had been learn to her. Following her plea, the prosecution counsel, Emenike Mgbemele, requested the court docket for a trial date and indicated the EFCC’s plan to name 14 witnesses to testify within the case.

Nevertheless, the protection counsel, Emeka Ogboguo, SAN, drew the court docket’s consideration to a pending bail utility, urging the court docket to grant his shopper bail pending trial.

Justice Emeka Nwite launched the defendant to her counsel and adjourned the case to November 17, 2025, for listening to of the bail utility.

What you need to know 

The anti-graft company not too long ago charged an accountant, Oguibe Promise Nkwachukwu of Travelstar Internet Logistics Restricted, alongside his firm, Wifamapp Royalty International Restricted, for allegedly stealing N200 million belonging to his employer.

• The Lagos Zonal Directorate 1 of the EFCC additionally arraigned Mr. Samson Davies and his agency, Signature Advisory Restricted, earlier than Justice Mojisola Dada of the Particular Offences Court docket in Ikeja for allegedly stealing N190.7 million from Ronchess International Assets Plc, a building firm.
• The EFCC mentioned the defendants dishonestly transformed the funds between October 2022 and October 2023, and each pleaded not responsible to the costs.
• Nairametrics reported that in a single fiscal 12 months, the EFCC recovered N364.5 billion and $326.5 million, together with different foreign currency and seized belongings. The Fee additionally secured 4,111 convictions throughout varied courts throughout the similar interval, reflecting a sustained crackdown on corruption and monetary crimes nationwide.