The Economic and Financial Crimes Commission (EFCC) on Wednesday, October 8, 2025, arraigned Ngozi Olejeme, the former board chairman of the Nigeria Social Insurance Trust Fund (NSITF), before Justice Emeka Nwite of the Federal High Court in Abuja. Olejeme was brought before the court on eight counts bordering on serious financial offenses, including money laundering, conversion, transfer, and possession of proceeds from unlawful activities, which cumulatively amounted to an alleged ₦1 billion.

During the proceedings, specific charges were detailed by the prosecution. One count alleged that in February 2012, while serving as the NSITF board chairman, Olejeme indirectly converted the sum of ₦321,600,000.00 (Three Hundred and Twenty-One Million, Six Hundred Thousand Naira) into the Sterling Bank Plc account of Adin Miles International Ltd. This action was committed with the knowledge that the funds constituted proceeds of unlawful activity, an offense contrary to Section 15(2)(b) and punishable under Section 15(3) of the Money Laundering (Prohibition) Act, 2011 (as amended by Act No.1 of 2012).

Another significant charge accused Olejeme of procuring one Chuka C. Eze on or about February 9, 2012, to convert the sum of $2,000,000.00 (Two Million Dollars) into Naira. This converted sum was then allegedly paid to the same company, Adin Miles International Ltd, with Olejeme knowing that these funds also constituted proceeds of unlawful activity. This particular act was cited as contrary to Section 18(c) and punishable under Section 15(3) of the Money Laundering (Prohibition) Act, 2011 (as amended by Act No 1 of 2012).

Following the reading of all eight charges, Ngozi Olejeme pleaded not guilty to every count. In response to her plea, the prosecution counsel, Emenike Mgbemele, informed the court of the EFCC's intention to call 14 witnesses during the trial and requested a date for the commencement of proceedings.

Meanwhile, the defense counsel, Emeka Ogboguo (SAN), presented a bail application to the court, urging Justice Nwite to grant his client bail pending the trial. After hearing arguments, Justice Nwite released the defendant into the custody of her counsel and adjourned the case to November 17, 2025, for the hearing of the bail application, allowing time for proper consideration of the defense's request.