EFCC arraigns ex-NSITF Chair, Ngozi Olejeme Over ₦1 Billion fraud allegations

The Economic and Financial Crimes Commission (EFCC) has arraigned former Nigeria Social Insurance Trust Fund (NSITF) Chairman, Ngozi Olejeme, over allegations of ₦1 billion fraud.

Olejeme, who served as NSITF Chairperson from 2009 to 2015, pleaded not guilty to eight counts of money laundering and financial misappropriation.

According to the EFCC, Olejeme allegedly orchestrated a complex web of financial transactions, converting and laundering public funds meant for social protection programs between 2012 and 2015.

The commission claims that she used a network of intermediaries, fictitious contracts, and offshore conversions to launder the funds.

One of the counts reads: “That you, Mrs. Ngozi Olejeme, while being 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 paid into the Sterling Bank account of Adin Miles International Ltd, knowing that the funds constituted proceeds of unlawful activity…”

Olejeme’s lawyer, Emeka Ogbogulo (SAN), pleaded for bail, citing her health condition and cooperation with investigators. Justice Emeka Nwite granted bail, adjourning the case to November 17, 2025.

This is not Olejeme’s first brush with the law. In 2017, she was declared wanted by the EFCC for allegedly diverting ₦69 billion from NSITF. She later returned to Nigeria and was granted administrative bail pending investigation.

The EFCC’s case against Olejeme highlights the agency’s renewed efforts to tackle corruption and mismanagement of public funds. The outcome of this trial may determine future confidence in Nigeria’s capacity to manage social funds, particularly as the government seeks global loans for social safety nets under its “Renewed Hope” agenda.