The Economic and Financial Crimes Commission (EFCC) on Wednesday, October 8, 2025, arraigned a former Board Chairman of the Nigeria Social Insurance Trust Fund (NSITF), Dr. Ngozi Olejeme, before Justice Emeka Nwite of the Federal High Court, Maitama, Abuja, over an alleged ₦1 billion fraud.
Olejeme was arraigned on an eight-count charge bordering on money laundering, involving the conversion, transfer, procurement, and possession of proceeds of unlawful activities amounting to ₦1,000,000,000 (One Billion Naira).
One of the counts alleged that Olejeme, while serving as NSITF Board Chairman in February 2012, indirectly converted ₦321.6 million paid into the Sterling Bank account of Adin Miles International Ltd, knowing that the funds were proceeds of unlawful activity — an offence contrary to Section 15(2)(b) and 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 the same company, despite knowing the funds were proceeds of unlawful activity, contrary to Section 18(c) and punishable under Section 15(3) of the same Act.
Olejeme pleaded not guilty to all charges. Following her plea, EFCC counsel, Emenike Mgbemele, requested a trial date to enable the prosecution to present its 14 witnesses.
Defense counsel, Emeka Ogboguo (SAN), applied for bail on behalf of the defendant, urging the court to grant her temporary release pending trial.
Justice Nwite ordered that the defendant be released to her counsel and adjourned the matter to November 17, 2025, for the hearing of the bail application.
