Ngozi Olejeme, a former chairman of the Nigeria Social Insurance Trust Fund (NSITF) has been arraigned by the Economic and Financial Crimes Commission (EFCC) over alleged N1 billion fraud.
Olejeme was arraigned before Justice Emeka Nwite of the Federal High Court, Abuja on Wednesday on eight-count charges bordering on converting, transferring, procuring, and taking possession of proceeds of unlawful activities to the tune of ₦1,000,000,000 (One Billion Naira only).
Count one of the charge 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 9th February 2012, knowing that the funds constituted proceeds of unlawful activity; and you 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).”
Count five of the charge 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 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).”
She pleaded not guilty to all the charges when they were read to her.
Following her plea, prosecuting counsel, Emenike Mgbemele, asked the court for a trial date to enable him call his 14 witnesses.
However, defence counsel, Emeka Ogboguo, SAN, drew the court’s attention to a pending bail application and prayed that the defendant be granted bail pending trial.
Justice Nwite released the defendant to her counsel and adjourned the matter to November 17, 2025, for the hearing of the bail application.