EFCC issues arrest warrant for former NSITF chairman, Ngozi Olejeme

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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.

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,Punch reports

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.

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