NEWS: EFCC Declares GEJ’s Finance Coordinator Ngozi Olojeme Wanted For Embezzling $48m

The Economic and Financial Crimes Commission (EFCC), has declared wanted the Deputy Chairman, Finance Committee of the Goodluck Jonathan Presidential Campaign Organisation in 2015, Dr. Ngozi Olojeme, over a $48m fraud.

Olojeme has been accused of embezzling the said amount during her tenure as the Chairman of the Nigeria Social Insurance Trust Fund from 2009 to 2015.

She and some directors in the company allegedly siphoned billions of naira, including funds meant for the payment of allowances of its staff as well as compensation to contributors.

“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.

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 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.”

The spokesman for the EFCC, Wilson Uwujaren, said Olojeme has been declared wanted and called on Nigerians to provide useful 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 explained.