The Economic and Financial Crimes Commission (EFCC) has arraigned Ngozi Olejeme, former chairperson of the board of the Nigeria Social Insurance Trust Fund (NSITF), before a Federal High Court in Abuja over alleged ₦1 billion money laundering.

Naijaonpoint reports that Olejeme, who served as NSITF board chair between 2012 and 2015, was brought before Justice Emeka Nwite on Wednesday on an eight-count charge bordering on converting, transferring, procuring, and taking possession of proceeds of unlawful activity.

According to the charge sheet, Olejeme allegedly diverted several funds belonging to the NSITF while in office.

One of the counts read, “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 accused her of procuring a third party, Chuka C. Eze, to convert $2 million into naira for payment to the same company, knowing the funds were linked to unlawful activity.

Olejeme pleaded not guilty to all the charges. Following her plea, EFCC counsel Emenike Mgbemele requested a trial date, revealing that the prosecution planned to call 14 witnesses.

However, defence counsel Emeka Ogboguo urged the court to consider a pending bail application.

Justice Nwite subsequently ordered that the defendant be released to her counsel and adjourned the case to November 17 for the hearing of the bail application.

The EFCC had declared Olejeme wanted in September 2017 over allegations of criminal conspiracy, abuse of office, diversion of public funds and money laundering to the tune of ₦69 billion.

In July 2020, a Federal High Court in Abuja ordered the interim forfeiture of 48 properties allegedly traced to her.

By October 2021, Olejeme was arraigned before an FCT High Court on a separate nine-count charge filed by the EFCC.