EFCC Arraigns Former NSITF Chair, Ngozi Olejeme, Over Alleged N1bn Money Laundering

The Economic and Financial Crimes Commission (EFCC) has arraigned a former Board Chairman of the Nigeria Social Insurance Trust Fund (NSITF), Ngozi Olejeme, before Justice Emeka Nwite of the Federal High Court, Maitama, Abuja, on charges bordering on alleged money laundering and diversion of public funds.

Olejeme was arraigned on eight counts involving the alleged conversion, transfer, and possession of proceeds of unlawful activities amounting to ₦1 billion.

According to a statement issued on Friday by the EFCC spokesperson, Dele Oyewale, Olejeme pleaded not guilty to all the charges.

One of the charges alleged that while serving as NSITF Board Chairman in February 2012, Olejeme indirectly converted ₦321.6 million into the Sterling Bank account of Adin Miles International Ltd., knowing the money was derived from unlawful activity.

The EFCC stated that the offence violated Section 15(2)(b) and is punishable under Section 15(3) of the Money Laundering (Prohibition) Act, 2011 (as amended).

Another count accused her of procuring one Chuka C. Eze to convert $2 million into naira for payment to Adin Miles International Ltd., also allegedly representing proceeds of unlawful activity.

Following her plea, EFCC counsel Emenike Mgbemele informed the court that the prosecution would call 14 witnesses to testify against the defendant and requested a trial date.

In response, Olejeme’s counsel, Emeka Ogbogulo (SAN), applied for bail on behalf of his client, urging the court to grant her release pending trial.

Justice Nwite subsequently released the defendant to her counsel and adjourned the case to November 17, 2025, for hearing on the bail application.

Olejeme, who chaired the NSITF board during the administration of former President Goodluck Jonathan, has been under EFCC investigation since 2017 over alleged diversion of billions of naira from the agency.

Her legal troubles reportedly began in 2016 after the EFCC received two petitions alleging large-scale fraud involving her, the former NSITF Managing Director Umar Abubakar, and several bureau de change operators.

She was subsequently declared wanted in September 2017 for alleged criminal conspiracy, abuse of office, diversion of public funds, and money laundering.

According to the EFCC, funds meant for workers’ social insurance contributions were allegedly diverted through fictitious contracts and company accounts linked to Olejeme and her associates.