EFCC has arraigned Former NSITF Board Chair Ngozi Olejeme over ₦1 billion money laundering charges.
NewsOnline Nigeria reports that the Economic and Financial Crimes Commission (EFCC) has arraigned 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, on eight counts bordering on money laundering and unlawful conversion of funds amounting to ₦1 billion.
According to the EFCC, Olejeme allegedly converted, transferred, procured, and took possession of proceeds of unlawful activities while serving as NSITF board chairman.
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 February 9, 2012, knowing that the funds constituted proceeds of unlawful activity.”
Another count alleged that Olejeme procured one Chuka C. Eze to convert $2 million into naira for payment to Adin Miles International Ltd, knowing the funds were proceeds of unlawful activity.
The offences, according to the EFCC, contravene Sections 15(2)(b) and 18(c) of the Money Laundering (Prohibition) Act, 2011, as amended in 2012, and are punishable under Section 15(3) of the same Act.
Olejeme pleaded not guilty to all the charges. Following her plea, the EFCC’s counsel, Emenike Mgbemele, requested a trial date to enable the prosecution to present its 14 witnesses.
Her defence counsel, Emeka Ogboguo, SAN, applied for bail, urging the court to grant his client release pending trial.
Justice Nwite released the defendant to her counsel and adjourned the case to November 17, 2025, for hearing on the bail application.
