EFCC Arraigned Former NSITF Board Chair, Ngozi Olejeme, Over Alleged ₦1 Billion Fraud

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…EFCC further disclosed that the prosecution team, led by Emenike Mgbemele, plans to call 14 witnesses to testify against the defendant 

ABUJA, NIGERIA – The iNews Times | The Economic and Financial Crimes Commission (EFCC) has arraigned Mrs. Ngozi Olejeme, former Board Chairman of the Nigeria Social Insurance Trust Fund (NSITF), before a Federal High Court in Abuja over an alleged ₦1 billion fraud.

According to a statement released on Friday by the EFCC spokesperson, Dele Oyewale, Olejeme was docked on an eight-count charge bordering on money laundering, conversion, transfer, procurement, and possession of proceeds of unlawful activities.

The anti-graft agency alleged that the former NSITF boss diverted public funds during her tenure in office, using front companies and associates to launder millions of naira and dollars between 2012 and 2015.

In the detailed charge sheet, the EFCC accused Olejeme of channeling ₦321.6 million through Adin Miles International Ltd, a private firm, while knowing the funds were proceeds of unlawful activity.

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 ₦321,600,000 (Three Hundred and Twenty-One Million, Six Hundred Thousand Naira) paid into the Sterling Bank account of Adin Miles International Ltd on 9th February 2012, knowing that the funds constituted proceeds of unlawful activity, thereby committing 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 a third party to help conceal funds allegedly obtained from illegal transactions.

Count five reads:

“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 Honourable Court, procured one Chuka C. Eze to convert the sum of $2,000,000 (Two Million United States 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).”

The EFCC further disclosed that the prosecution team, led by Emenike Mgbemele, plans to call 14 witnesses to testify against the defendant and present documentary evidence to support the charges.

Upon the reading of the charges, Mrs. Olejeme pleaded not guilty to all eight counts. Following her plea, Mgbemele urged the court to fix a trial date and remand the defendant in custody pending the commencement of proceedings.

However, defense counsel, Emeka Ogbogulo (SAN), informed the court that a bail application had already been filed and served on the prosecution. He pleaded with the court to release the defendant on bail pending the determination of the case.

In a brief ruling, Justice Nwite granted a temporary reprieve, ordering that the defendant be released to her counsel until the next adjourned date. The judge thereafter adjourned the case to November 17, 2025, for hearing on the bail application.

The EFCC had previously investigated Olejeme in connection with alleged mismanagement of public funds during her tenure at the NSITF, where she served as board chair under the administration of former President Goodluck Jonathan. She was first declared wanted by the Commission in 2017 and later arraigned in 2021 on similar money laundering charges before the Federal Capital Territory (FCT) High Court.

Olejeme, who was also a former governorship aspirant in Delta State, has consistently denied wrongdoing, insisting that all transactions carried out under her leadership were duly approved and transparent.

The new charges, however, appear to expand the scope of the earlier investigations, with the EFCC accusing her of converting both naira and dollar-denominated funds to private use through corporate accounts linked to her associates.

If found guilty, Olejeme risks severe penalties under Nigeria’s money laundering laws, including forfeiture of assets and a possible jail term of up to 14 years.

The case underscores the EFCC’s renewed efforts to intensify high-profile corruption prosecutions, particularly those involving public officers accused of diverting government funds.

The trial is expected to continue in November, as both sides prepare to present their arguments before the court.