Nigeria’s anti-corruption agency, the Economic and Financial Crimes Commission (EFCC), has arraigned a former board chairman of the Nigeria Social Insurance Trust Fund (NSITF), Ngozi Olejeme, before the Federal High Court in Abuja over alleged fraud involving ₦1 billion.
According to the EFCC, Olejeme appeared before Justice Emeka Nwite of the Federal High Court in Maitama, Abuja, on Wednesday, October 8, 2025, where she faced an eight-count charge bordering on money laundering and conversion of public funds.
The charges accused her of converting, transferring, and taking possession of funds believed to be proceeds of unlawful activities.
One of the counts reads:
“That you, Mrs. Ngozi Olejeme, while serving as 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 account of Adin Miles International Ltd on February 9, 2012, knowing that the funds were proceeds of unlawful activity.”
Another count alleged that Olejeme procured one Chuka C. Eze to convert $2 million into naira for payment to the same company, also knowing that the funds were proceeds of unlawful activity.
After the charges were read, she pleaded not guilty to all counts.
Following her plea, the EFCC’s counsel, Emenike Mgbemele, requested a trial date to present 14 witnesses. However, the defence counsel, Emeka Ogboguo (SAN), asked the court to grant his client bail pending trial.
Justice Nwite granted temporary release to the defendant through her lawyer and adjourned the case to November 17, 2025, for the hearing of the bail application.
In a related development, the EFCC also charged an accountant, Oguibe Promise Nkwachukwu of Travelstar Web Logistics Limited, and his company, Wifamapp Royalty Global Limited, for allegedly stealing ₦200 million from his employer.
Similarly, the Lagos Zonal Directorate 1 of the EFCC arraigned Mr. Samson Davies and his firm, Signature Advisory Limited, before Justice Mojisola Dada of the Special Offences Court in Ikeja for allegedly diverting ₦190.7 million belonging to Ronchess Global Resources Plc, a construction company. Both defendants pleaded not guilty.
According to the EFCC, within one fiscal year, the Commission recovered ₦364.5 billion, $326.5 million, and other foreign currencies and seized assets. It also secured 4,111 convictions across various courts — a sign of its continued efforts to tackle financial crimes in Nigeria.
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