The Economic and Financial Crimes Commission, EFCC, has gotten a
court ordered arrest warrant for Ngozi Olejeme, who served as chairman
of the Nigeria Social Insurance Trust Fund, NSITF between 2009 and 2015.
Olejeme, who parades an honorary doctorate degree, was also the
Deputy Chairman, Finance Committee of the Goodluck Jonathan Presidential
Campaign Organisation in 2015.
The Asaba, Delta state born woman, was sacked by President Muhammadu Buhari in 2015.
Reports quoting Punch, said Olejeme was accused of diverting
$48,485,127 from the social insurance scheme designed to provide
compensation to employees who suffer from occupational accidents or
diseases in the line of duty.
Olejeme and some directors in the company were said to have diverted
billions of naira including funds meant for the payment of allowances of
its staff as well as compensation to contributors. The organisation is
funded by deducting 1 per cent from all government and private sector
employees enrolled in the scheme.
After her removal, a petition was written to the EFCC alleging that
over N50bn from the Employee Compensation Scheme fund, paid by
Ministries, Departments and Agencies and private companies as well as
another N18bn, being the contribution of the Federal Government as
take-off grant to the NSITF, was mismanaged and diverted into the
personal accounts of Olojeme and a former Managing Director of the
NSITF, Umar Abubakar.
Setting up a team of detectives to look into the allegations as well
as the bank account of the NSITF, operatives of the commission uncovered
suspicious transactions and diversion of funds.
Some funds were said to have been traced to the accounts of some
consultants and contractors, who were believed to be fronts for Olejeme
and other directors in the NSITF.
The paper gathered that several directors and contractors were
invited to explain their own side of the story, many of whom have since
returned funds to the EFCC.
An EFCC report was quoted as reading thus, “It was discovered that
the NSITF accounts in First Bank of Nigeria and other banks have
witnessed a total turnover of over N62,358,401,927 between 2012 and 2015
from the Employee Compensation Scheme contributions.
“That out of the N62bn, the Federal Government contributed
N13,600,000,000 while the sum of N48,758,401,927.80 was contributed by
the private sector. That there were several payments to individuals and
companies from the NSITF bank accounts for purported contracts or
consultancy services.
“That some individuals and companies that received these payments, in
turn, transferred part of the monies directly to the NSITF officials
while others transferred huge sums to bureau de change operators who
changed them to dollars.”
The report adds that Olejeme sent her account officer at FBN to collect $48m from some NSITF contractors through a BDC operator.
“That through this process, Dr. Ngozi Olejeme, the then NSITF board
chairman, has collected a total sum of $48,485,127 from Mr. Chuka Eze
(her account officer at FBN), which cash he collected on her behalf
being the dollar equivalent of monies paid to BDCs by NSITF contractors.
“That she has refused to honour invitation and all efforts to get her
to come and tell her own side of the story have proved abortive hence
her arrest warrant has been obtained from court.
“We ask for the EFCC chairman’s approval to declare the suspect wanted.”
Unlike Olejeme, Abubakar was said to have honoured the invitation of the commission.
Olejeme, who was also the convener of the Subsidy Reinvestment and
Empowerment Programme sub-committee on Public Works and Road
Rehabilitation, could not be reached for comment as she has been out of
the country for over a year.
Confirming the development, the EFCC spokesman, Mr. Wilson Uwujaren,
stated that Olejeme had been declared wanted and urged members of the
public to offer information that could lead to her arrest.
“Yes, she has been declared wanted. Members of the public are advised
to give us information that would lead to her arrest,” he told the
national daily.
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