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EFCC arrests ex-President’s campaign finance chief over alleged N69B fraud


Dr. Ngozi Olojeme, the Deputy Chairman, Finance Committee of the Goodluck Jonathan Campaign Organisation in the 2015, has been arrested by the EFCC over alleged N69B fraud.

In a report by Punch, the Economic and Financial Crimes Commission arrested the ex-President’s campaign finance chief six months after she was declared wanted.

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Olojeme, who served as the Chairman of the Nigeria Social Insurance Trust Fund from 2009 to 2015, was declared wanted for allegedly diverting N69bn from the agency.

Olojeme, the widow to Felix Obuah, the late Chief Security Officer to Jonathan, was said to have fled the country after the termination of her appointment.

The widow reportedly showed up at the EFCC on Monday after which she was detained.

Olojeme was also the convener of the Subsidy Reinvestment and Empowerment Programme sub-committee on Public Works and Road Rehabilitation.

How Olojeme trouble started

Olojeme stepped into troubled waters shortly after her appointment as the Chairman of the Nigeria Social Insurance Trust Fund was terminated by President Muhammadu Buhari upon resumption of office in 2015.

The anti-graft agency subsequently received a petition alleging that over N50billion from the Employee Compensation Scheme fund paid by Ministries Departments and Agencies and private companies were mismanaged by Olojeme.

It was also alleged that another N18billion 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 anti-graft agency allegedly looked into the bank accounts of the NSITF and allegedly discovered suspicious transactions and funds diversion.

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.

The EFCC report on Olojeme
“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.”

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