Ngozi Olojeme Declared Wanted By EFCC Over $48m Fraud

 

The Economic and Financial Crimes Commission has obtained
a court order to declare wanted Dr. Ngozi Olojeme, the
Deputy Chairman, Finance Committee of the Goodluck
Jonathan Presidential Campaign Organisation in 2015.

Olojeme, who served as the Chairman of the Nigeria Social
Insurance Trust Fund from 2009 to 2015, was accused of
diverting $48,485,127 from the NSITF.

The NSITF 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 1 per cent from all government and private
sector employees enrolled in the scheme.

However, according to documents made available to The
AFRICITY, 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 to
contributors.

Trouble started for Olojeme shortly after her removal by
President Muhammadu 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 contribution of the Federal
Government as take-off grant to the NSITF, was mismanaged
and diverted into the personal accounts of Olojeme and Umar
Abubakar, a former Managing Director of the NSITF.
The EFCC immediately set up a team of detectives to look
into the allegations.

Operatives of the commission looked into the bank account of
the NSITF and 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 Olojeme and other directors in the NSITF.
It was learnt 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, 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 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 Olojeme sent her account officer at
FBN to collect $48m from some NSITF contractors through a
BDC operator.

It states, “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.”

Unlike Olojeme, it was learnt that Abubakar had honoured the
invitation of the commission.

Olojeme, 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.

The spokesman for the EFCC, Mr. Wilson Uwujaren, confirmed
to our correspondent on the telephone that Olojeme had
been declared wanted.

He 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 said.

A close aide to Olojeme, who spoke with our correspondent
on condition of anonymity, confirmed that the suspect had
remained incommunicado for several months.

The aide said, “I don’t know her whereabouts. However, she’s
aware of what is going on.”

Posted by : Pretty damsel June 17, 2017 Tags : Africa , Nigeria

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