Alleged N1.4Billion Fraud: Court grants bail to ex-NSITF chair, Olejeme


The Excessive Court of the Federal Capital Territory (FCT) in Jabi, Abuja, on Friday, granted bail to a old board chairperson of the Nigeria Social Insurance protection Have confidence Fund (NSITF), Ngozi Olejeme, who faces N1.4 billion fraud costs.

The News of Nigeria (NAN) reports that the courtroom adjourned the topic unless November 8 for hearing.

PREMIUM TIMES reported that the Financial and Financial Crimes Commission (EFCC) had on Thursday arraigned Ms Olejeme on 9 counts of abuse of workplace and the employ of her field to form over N1.4 billion and $48,485,127 as the chair of NSITF between 2012 and 2015.

She denied the costs when read to her.

Her lawyer, Paul Erokoro, a Senior Imply of Nigeria, resulting from this truth notified the trial roar, Maryam Aliyu, of his client’s pending bail application.

Mr Erokoro pleaded with the courtroom to grant her bail in step with self-recognition or on liberal phrases.

EFCC’s prosecuting counsel, Steve Odiase, didn’t oppose the bail application, but educated the courtroom to refuse the grant of bail on self-recognition as suggested by the defence counsel.

Ruling on Friday, the roar adopted the an identical prerequisites of the administrative bail which the cost imposed on the defendant while investigating the case.

The prerequisites embody presentation of two assistant directors in a authorities establishment as sureties.

As well, the roar, Ms Hassan, directed that the bolt documents of the defendant be submitted on the courtroom’s registry.


Ms Olejeme is charged with criminal conspiracy, abuse of office, diversion of public funds and money laundering.

The offence it used to be alleged she dedicated between 2012 and 2015, when she used to be the board chairperson of the NSITF.

The 9-depend fee entails alleged mismanagement, giving pretend observation, taking kickback from contracts and diversion of NSITF funds into deepest accounts and corporations she had hobby in.

In a single in every of the costs, Ms Olejeme used to be accused of dishonestly receiving the sum of N350million paid into Ready Jes Nigeria Restricted, a firm she used to be mentioned to beget hobby in, and extinct her field to confer unfair encourage upon the mentioned firm by receiving loads of funds from BDCs.

ALSO READ: EFCC arraigns ex-NSITF boss, Olejeme, for alleged N1.4 billion fraud

She allegedly dedicated the offence while being the chairperson of the NSITF someday between 2012 and 2015 in Abuja.

The offence, EFCC mentioned, contravened the provisions of sections 8,19 (1) (b) (1), punishable below the Horrifying Apply & loads of Related Offence Act 2000 and Section 17, (1) (2), 39 of EFCC (Establishment) Act, 2004 and punishable below the an identical portion.

She used to be moreover accused of receiving encourage to grant favour within the discharge of her official duties to (NSITF) by receiving N505 million sourced from the monies paid by NSTTF to Fountain Media Consults Ltd and Fountain Appropriate Services accounts as kickback.

She pleaded no longer guilty to your entire 9 counts on Thursday.


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