EFCC Swoops On Olejeme, Seals Off Her Asaba Properties
The noose is tightening round the neck of corrupt former Chairman of the Boards of the long-suffering the Nigeria Social Insurance Trust Fund (NSITF) and Pension Trust Fund and board member of Subsidy Re-investment programme (SURE-P) Mrs Ngozi Olejeme as the Economic and Financial Crimes Commission, EFCC, closed in on her last night when they sealed off her choice property in Asaba, capital of Delta State, worth hundreds of millions of Naija.
XCLUSIVE MAGAZINE can authoritatively report that the current clampdown on Olejeme by the EFCC is a result of a recent forensic audit of the NSITF and Pension funds. It was discovered that Olejeme diverted $48,485,127 from the social insurance scheme. On 16 June 2017, EFCC then got a court order for the arrest warrant of Ngozi Olejeme for $48m fraud.
According to the EFCC report, “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 Olejeme sent her account officer at FBN to collect $48m from some NSITF contractors through a BDC operator.
“That through this process, Dr. Ngozi Olejeme, 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.”
As Chairman of the Boards of NSITF and Pension Trust Fund between 2009 and 2015, and a board member of Subsidy Re-investment programme (SURE-P), Olejeme embarked on an unrestrained financial recklessness and feeding her appetite for expensive holidays, palace-like mansions and exotic cars with impunity.
In May 2015, XCLUSIVE MAGAZINE chronicled how Mrs Olejeme, lavished over N2 billion to fund her campaign for the 2015 Delta State Gubernatorial primary and also for personal investment into properties and luxurious lifestyle, leaving the NSITF in comatose.
We established that a huge percentage of that money was fleeced from desperate and unwary job seekers in a massive official scam recruitment process and the contributions from contributions of hard-working Nigerians, as all government and private sector employees enrolled in the scheme are required to pay 1 per cent of their earnings into NSITF on a monthly basis, being contributions “against the contingencies of retirement, pension, death, invalidity and emigration” and “against the contingency of employment injury.”
Olejeme’s mismanagement of NSIFT hacks back to her criminal past as a board member of Ajaokuta Steel Company during Obasanjo’s regime. In 2013, she was caught in money laundering act that led to her paying several visits to the EFCC office.
The EFCC clampdown on Olejeme is real. It is increasingly obvious that Asaba-born Olejeme is now in serious trouble. XCLUSIVE MAGAZINE has gathered that Mrs Olejeme is on the run, as she has been out of the country for over a year.
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