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


The Economic and Monetary Crimes Fee (EFCC), Thursday, arraigned a extinct chairperson of the board of the Nigeria Social Insurance coverage Believe Fund (NSITF), Ngozi Olejeme, for alleged 1.4 billion fraud.

EFCC’s spokesperson, Wilson Uwujaren, stated in a assertion that the defendant became once arraigned sooner than Maryam Aliyu of the Federal Capital Territory High Court, Jabi, Abuja.

She faces nine counts alongside with abuse of say of job and using say to carry out over N1.4 billion and $48,485,127.

The EFCC stated her offences contravened the provisions of sections 8, 9 (1) (b) (1), punishable below the Nefarious Apply and Other Associated Offence Act 2000 and sections 17, (1) (2), 39 of EFCC (Establishment) Act, 2004 and punishable below the the same allotment.

Ngozi Olejeme, A former chairperson of Nigerian Social Insurance Trust Funds, NSITF
Ngozi Olejeme, A extinct chairperson of Nigerian Social Insurance coverage Believe Funds, NSITF

Court hearing

The defendant pleaded no longer guilty when the costs were be taught to her.

EFCC’s prosecuting counsel, Steve Odiase, then requested for a trial date.

The defence counsel, Paul Erokoro, a Senior Suggest of Nigeria, knowledgeable the courtroom of a pending bail application filed on behalf of his client on October 18.

He entreated the courtroom to grant his client bail on self-recognition or in the different, “in the most liberal phrases.”

He knowledgeable the courtroom that his client became once no longer a flight risk as she voluntarily returned to Nigeria when she heard that the EFCC wanted to quiz her.

Mr Erokoro additional stated the bail application became once predicated on clinical grounds as the defendant had been diabetic and hypertensive for 30 years.

He added that she had had four valuable surgeries in the U.S. and South Africa.

Mr Erokoro also stated the defendant’s fresh clinical epic from Federal Medical Centre Jabi, Abuja, instructed that she required close clinical monitoring as her clinical say might perchance perchance lead to a clinical emergency.

The prosecuting counsel did no longer oppose the bail application, however entreated the courtroom to refuse the grant of bail on self-recognition as urged by the defence counsel.

The select adjourned unless Friday, October 21, for ruling on the bail application and remanded the defendant in the custody of the EFCC.


In one among the costs, Mrs Olejeme became once accused of dishonestly receiving the sum of N350million paid into Ready Jes Nigeria Restricted, a firm she became once stated to bear interest in, and ragged her say to confer unfair advantage upon the stated firm by receiving assorted payments from BDCs.

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

She became once also accused of receiving profit to grant favour in the discharge of her legit duties to (NSITF) by receiving N505 million sourced from the monies paid by NSTTF to Fountain Media Consults Ltd and Fountain Proper Products and companies accounts as kickback.

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