By Nkechi Eze
The Economic and Financial Crimes Commission (EFCC) has 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, over alleged involvement in a ₦1 billion fraud.
According to an official statement by the EFCC’s spokesperson, Dele Oyewale, Olejeme was arraigned on Wednesday, October 8, 2025, on an eight-count charge bordering on converting, transferring, procuring, and taking possession of proceeds of unlawful activities amounting to ₦1,000,000,000 (One Billion Naira).
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 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).”
Another count, specifically 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 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 former NSITF boss, however, pleaded not guilty to all eight charges when they were read to her.
Following her plea, the prosecuting counsel, Emenike Mgbemele, requested a date for trial, indicating the prosecution’s readiness to call 14 witnesses in the case.
However, the defense counsel, Emeka Ogbogulo, SAN, informed the court of a pending bail application and prayed that the defendant be granted bail pending the commencement of trial.
After listening to both counsels, Justice Nwite released the defendant to her lawyer and adjourned the matter to November 17, 2025, for hearing of the bail application.
