The Economic and Financial Crimes Commission has arrested Dr.
Ngozi Olojeme, the Deputy Chairman, Finance Committee of the
Goodluck Jonathan Campaign Organisation in the 2015 presidential
election.
The suspect, who served as the Chairman of the Nigeria Social
Insurance Trust Fund from 2009 to 2015, was, in June, declared
wanted for allegedly diverting N69bn from the agency.
Olojeme, who is also the widow to Felix Obuah, the late Chief
Security Officer to Jonathan, was said to have fled the country
shortly after her sacking by President Muhammadu Buhari in
2015.
The suspect, who was also the convener of the Subsidy
Reinvestment and Empowerment Programme sub-committee on Public
Works and Road Rehabilitation, finally reported at the EFCC on
Monday after which she was detained.
A detective at the commission stated, “After months of running,
Mrs. Olojeme finally turned herself in. She is currently being
detained and we have identified most of her properties.”
The NSITF, which was headed by Olojeme, is a social insurance
scheme designed to provide compensation to employees who suffer
from occupational accidents or diseases in the line of duty.
The organisation is funded by deducting one per cent from all
government and private sector employees enrolled in the scheme.
However, according to documents made available to our reporter,
Olojeme and some directors in the company allegedly diverted
billions of naira, including funds meant for the payment of
allowances of its staff as well as compensation for
contributors.
Trouble started for Olojeme shortly after her sacking by Buhari
in 2015.
The EFCC subsequently received a petition 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 contributions of the Federal Government
as take-off grants to the NSITF, was allegedly mismanaged and
diverted into the personal accounts of Olojeme and Umar Abubakar,
the Managing Director of the NSITF.
The EFCC immediately set up a team of detectives to look into
the allegations.
The commission looked into the bank accounts of the NSITF and
allegedly discovered suspicious transactions and diversion of
funds.
Some funds were said to have been traced to the accounts of some
consultants and contractors who were alleged to be mainly fronts
for Olojeme and other directors in the NSITF.
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, made available to our correspondent, read in
part, “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 parts of the funds directly to the
NSITF officials while others transferred huge sums to bureau de
change operators who changed them to dollars.”
The report adds that Olojeme sent her account officer at FBN to
collect $48m from some NSITF contractors through a BDC
operator.
It adds, “That through this process, Dr. Ngozi Olojeme, 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 money paid to BDCs by
NSITF contractors.”
The EFCC had, on November 23, 2017, arraigned some of Olojeme’s
accomplices, including Umar Abubakar, Henry Sambo, Adebayo
Aderibigbe, Chief Richard Uche and Aderemi Adegboyega, before
Justice Silvanus Orji of the Federal Capital Territory High Court,
sitting in Apo, Abuja, on 26 counts bordering on conspiracy, abuse
of office and illegal diversion of public funds.
They all pleaded not guilty to the offences and were granted
bail. The matter was adjourned till February 5, 2018 for
commencement of trial.
The Economic and Financial Crimes Commission has arrested Dr.
Ngozi Olojeme, the Deputy Chairman, Finance Committee of the
Goodluck Jonathan Campaign Organisation in the 2015 presidential
election.
The suspect, who served as the Chairman of the Nigeria Social
Insurance Trust Fund from 2009 to 2015, was, in June, declared
wanted for allegedly diverting N69bn from the agency.
Olojeme, who is also the widow to Felix Obuah, the late Chief
Security Officer to Jonathan, was said to have fled the country
shortly after her sacking by President Muhammadu Buhari in
2015.
The suspect, who was also the convener of the Subsidy
Reinvestment and Empowerment Programme sub-committee on Public
Works and Road Rehabilitation, finally reported at the EFCC on
Monday after which she was detained.
A detective at the commission stated, “After months of running,
Mrs. Olojeme finally turned herself in. She is currently being
detained and we have identified most of her properties.”
The NSITF, which was headed by Olojeme, is a social insurance
scheme designed to provide compensation to employees who suffer
from occupational accidents or diseases in the line of duty.
The organisation is funded by deducting one per cent from all
government and private sector employees enrolled in the scheme.
However, according to documents made available to our reporter,
Olojeme and some directors in the company allegedly diverted
billions of naira, including funds meant for the payment of
allowances of its staff as well as compensation for
contributors.
Trouble started for Olojeme shortly after her sacking by Buhari
in 2015.
The EFCC subsequently received a petition 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 contributions of the Federal Government
as take-off grants to the NSITF, was allegedly mismanaged and
diverted into the personal accounts of Olojeme and Umar Abubakar,
the Managing Director of the NSITF.
The EFCC immediately set up a team of detectives to look into
the allegations.
The commission looked into the bank accounts of the NSITF and
allegedly discovered suspicious transactions and diversion of
funds.
Some funds were said to have been traced to the accounts of some
consultants and contractors who were alleged to be mainly fronts
for Olojeme and other directors in the NSITF.
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, made available to our correspondent, read in
part, “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 parts of the funds directly to the
NSITF officials while others transferred huge sums to bureau de
change operators who changed them to dollars.”
The report adds that Olojeme sent her account officer at FBN to
collect $48m from some NSITF contractors through a BDC
operator.
It adds, “That through this process, Dr. Ngozi Olojeme, 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 money paid to BDCs by
NSITF contractors.”
The EFCC had, on November 23, 2017, arraigned some of Olojeme’s
accomplices, including Umar Abubakar, Henry Sambo, Adebayo
Aderibigbe, Chief Richard Uche and Aderemi Adegboyega, before
Justice Silvanus Orji of the Federal Capital Territory High Court,
sitting in Apo, Abuja, on 26 counts bordering on conspiracy, abuse
of office and illegal diversion of public funds.
They all pleaded not guilty to the offences and were granted
bail. The matter was adjourned till February 5, 2018 for
commencement of trial.
Read more https://nairalaw.com/alleged-n69bn-fraud-efcc-arrests-finance-chief-of-goodluck-jonathans-campaign/