Billion Naira Scandal Rocks Abuja: Ex-NSITF Chair, Ngozi Olejeme, Arraigned Over N1bn Fraud

The Economic and Financial Crimes Commission (EFCC) has arraigned former Nigeria Social Insurance Trust Fund (NSITF) Board Chair Ngozi Olejeme over an alleged N1 billion fraud. Olejeme was charged with eight counts of money laundering, conversion, transfer, and possession of proceeds of unlawful activities.

Key Details of the Alleged Fraud

• Amount Involved: N1 billion
• Charges: Eight counts of money laundering, conversion, transfer, and possession of proceeds of unlawful activities
• Alleged Offenses: Converting N321.6 million paid into Adin Miles International Limited’s Sterling Bank account, and directing Chuka C. Eze to convert $2 million into Naira for payment to the same company
• Date of Alleged Offense: February 2012

Trial Updates

• Plea: Olejeme pleaded not guilty to all charges
• Trial Date: November 17, 2025, for the hearing of the bail application
• Prosecution Witnesses: 14 witnesses will testify against Olejeme
• Defense Counsel: Emeka Ogbogulo, SAN, represents Olejeme.

Reactions and Implications

• EFCC’s Commitment: The anti-graft agency is determined to pursue justice and hold public officials accountable for corruption
• Public Interest: The case highlights the need for transparency and accountability in the management of public funds.