The Economic and Financial Crimes Commission, EFCC, has arraigned Ngozi Olejeme, former Chairman of the Nigeria Social Insurance Trust Fund, NSITF, before the Federal High Court in Maitama, Abuja, over allegations of laundering public funds amounting to ₦1 billion.
Olejeme appeared before Justice Emeka Nwite on Wednesday, where she faced an eight-count charge bordering on money laundering, conversion, transfer, and possession of proceeds of unlawful activity.
According to the EFCC, the offences were allegedly committed during her tenure as NSITF Board Chairman in 2012. The anti-graft agency claimed that Olejeme used her position to divert huge sums of money belonging to the agency through companies associated with her.
In one of the charges, the EFCC accused Olejeme of indirectly converting ₦321.6 million, which was paid into the account of Adin Miles International Ltd with Sterling Bank Plc on February 9, 2012, knowing that the funds were proceeds of an unlawful act.
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The prosecution stated that the act contravened Section 15(2)(b) and is punishable under Section 15(3) of the Money Laundering (Prohibition) Act, 2011 (as amended in 2012).
In another count, Olejeme was accused of procuring one Chuka C. Eze to convert $2 million into naira for payment to Adin Miles International Ltd, despite being aware that the funds were proceeds of unlawful activity.
Olejeme pleaded not guilty to all eight counts when they were read to her in court.
EFCC counsel, Emenike Mgbemele told the court that the commission was ready for trial and intended to call 14 witnesses to testify against the defendant.
However, defence counsel Emeka Ogboguo informed the court of a pending bail application, urging the judge to grant his client bail pending trial.
Justice Nwite released Olejeme to her counsel and adjourned the case to November 17, 2025, for the hearing of the bail application.
Olejeme, who served as NSITF Chairman during the administration of former President Goodluck Jonathan, has been under EFCC investigation for several years over alleged diversion of funds meant for the agency’s welfare and insurance operations.
