EFCC Sues Former NSITF Boss Over Alleged N1 Billion Fraud – THISAGE

The Economic and Financial Crimes Commission, EFCC, has arraigned a former Board Chairman of the Nigeria Social Security Trust Fund, NSITF, Ngozi Olejeme, before Justice Emeka Nwite of the Federal High Court, Maitama, Abuja.

She was arraigned on 8-count charges bordering on conversion, transfer, procurement and possession of proceeds of illegal activities amounting to N1000,000,000.00k (one billion Naira only).

One of the charges reads: “That you, Mrs. Ngozi Olejeme, while serving as the Chairman of the Board of Directors of the Nigeria Social Security Trust Fund (NSITF) in February 2012, in Abuja, within the jurisdiction of this Honorable Court, indirectly converted the sum of N321,600,000 (Three Hundred and Twenty-One Million, Six Hundred Naira) paid into the Sterling Bank plc account of ADIN MILES INTERNATIONAL LTD on 9 of February 2012 knowing that the funds constituted proceeds of unlawful activities and that you have therefore committed an offense 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)

Paragraph 5 of the indictment reads: “That you, Mrs. Ngozi Olejeme, while serving as the Chairman of the Board of the Nigeria Social Security Trust Fund (NSITF) on or about the 9th February, 2012 at Abuja, within the jurisdiction of this Honorable 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 knew that the said $2,000,000 constituted proceeds of unlawful activity and therefore committed an offense contrary to Section 18© 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 charges when they were read to her.

In view of his request, the prosecuting lawyer, Emenike Mgbemele, asked the court for a trial date to call his 14 witnesses.

However, the defense lawyer, Emeka Ogbogulo, SAN drew the attention of the court to a bail application, praying the court to grant the accused bail until the date of trial.

Justice Nwite released the accused to his counsel and adjourned the matter to November 17, 2025 for hearing on the bail application

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