The Economic and Financial Crimes Commission (EFCC) has arraigned Dr. Ngozi Olejeme, former Chairperson of the Nigeria Social Insurance Trust Fund (NSITF) Board, before the Federal High Court in Abuja over allegations of ₦1 billion money laundering.
Olejeme, who chaired the NSITF between 2012 and 2015, was arraigned on Wednesday before Justice Emeka Nwite on an eight-count charge bordering on conversion, transfer, procurement, and possession of proceeds of unlawful activities.
EFCC Accuses Olejeme of Diverting Public Funds
According to the charge sheet, Olejeme allegedly diverted large sums belonging to the NSITF during her tenure as board chair.
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 paid into the Sterling Bank account of Adin Miles International Ltd on February 9, 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).”
Another count alleged that she procured one Chuka C. Eze to convert $2 million into naira for payment to the same company, knowing the funds were linked to unlawful activity.
Defendant Pleads Not Guilty
Olejeme pleaded not guilty to all eight counts when the charges were read to her.
Following her plea, EFCC counsel Emenike Mgbemele requested the court to fix a trial date, noting that the prosecution would call 14 witnesses to testify.
However, defence counsel Emeka Ogboguo urged the court to consider a pending bail application, seeking leniency for his client.
Court Grants Conditional Release
In his ruling, Justice Nwite ordered that Olejeme be released to her counsel pending the determination of her bail application. The case was then adjourned to November 17, 2025, for a formal hearing on the bail request.
Background of the Case
The EFCC had declared Olejeme wanted in September 2017 over allegations of criminal conspiracy, abuse of office, diversion of public funds, and money laundering amounting to ₦69 billion.
In July 2020, a Federal High Court in Abuja ordered the interim forfeiture of 48 properties allegedly linked to her.
Subsequently, in October 2021, she was arraigned before an FCT High Court on a separate nine-count charge also filed by the EFCC.
The latest arraignment marks a new phase in the long-running corruption case involving the former NSITF boss, as prosecutors move to prove the allegations of large-scale financial misappropriation during her tenure.
