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N62.3b fraud: EFCC freezes 30 accounts of ex-NSITF boss, seizes 37 assets

Former Chairman of the Nigerian Social Insurance Trust Fund, Dr. Ngozi Olojeme.

The Economic and Financial Crimes Commission (EFCC) has frozen 30 accounts and seized 37 assets  allegedly belonging to the former Chairman of the Nigerian Social Insurance Trust Fund, Dr. Ngozi Olojeme.

The agency had earlier linked 38 houses to Olojeme but it has obtained a court order to seize 37.

In one of the houses at No. 25, Kainji Crescent, Off Lake Chad Crescent, Maitama , Abuja, the EFCC detectives were said to have uncovered a state of the art bathroom suspected to have cost about $2m to $4million.

The EFCC is probing about N62.3billion fraud in NSITF with $48,485,127 credited to Olojeme.

The ex-NSITF, who was grilled by the EFCC in January, is still placed on administrative bail with a responsibility to report fortnightly for interaction.

But the EFCC however yesterday said Olojeme was yet to admit that she committed any fraud while in office.

She insisted that she was innocent of all the allegations against her in spite of the fact that her Account Officer, Chuka Eze has spilled the bean.

Findings by our correspondent revealed that the probe of Olojeme has reached a level for her arraignment in court by the anti-graft agency.

A top source, who spoke in confidence during an update session yesterday, said: “We have frozen 30 accounts traced to Olojeme in some banks. But our detectives discovered that she is the kind of person who does not keep huge money in these accounts. In some of these accounts, there were funds ranging from N20million to N30million, which were insignificant compared to slush funds traced to her.

“Investigation confirmed that the cash looted in NSITF was evacuated under the guise of  award of contracts. The contract sum will be paid to a company and her Account Officer will pick the raw cash and go to  Bureaus De Change(BDCs).

“The Account Officer, who has made startling revelations was actually what our detectives termed ‘clearing and forwarding’ for her.

“When we confronted her with our findings, she refused to admit committing any infractions while in office. She refused to admit having been confident that all the slush funds were withdrawn in cash.

“So far, she is ready to go through the rigours of trial. We are already seeking legal advice on whether or not she should be arraigned with other management staff of NSITF or be tried separately.

“Already, the EFCC has arraigned a former Managing Director of Nigeria Social Insurance Trust Fund (NSITF), Umar Munir Abubakar and four others for alleged diversion of N18billion out of the sum in question.

“The others are Deputy General Manager, Finance Henry Ekhasomi Sambo; General Manager, Legal Adebayo Adebowale Aderibigbe; Chief Richard U. Uche and Aderemi Adegboyega.”

Responding to a question, the source added: “We discovered a state of the art bathroom in one of her houses at No. 25, Kainji Crescent, Off Lake Chad Crescent, Maitama , Abuja. The EFCC is suspecting that the bathroom might have cost about $2m to $4million.

“At the appropriate time after final forfeiture of the mansion, Nigerians will have access to the amazing bathroom.”

Meanwhile the EFCC has secured a court order to seize 37 out of 38 houses allegedly traced to Olojeme.

The seizure followed an Interim Forfeiture Order by Justice A. I. Chikere of the Federal High Court, Abuja.

The order said in part: “An order of interim attachment/forfeiture of the asset attachment of the properties set out in the schedule attached herein.

“An Order stopping any disposal, conveyance, mortgage, lease, sale or alienation or otherwise of the properties/assets described in the schedule attached herein.

“An Order authorizing the Economic and Financial Crimes Commission to appoint competent persons/firm to manage the assets/properties listed in the schedule herein,  temporarily forfeited to the Federal Government pending the conclusion of investigation and determination of criminal charges against the suspects.

“And for such further or other orders as this honourable court may deem fit in the circumstances of this cases.

“It is hereby ordered as follows: that the order is granted as prayed.  That the order made is to last for 6 months. That no order as to cost.”

The EFCC had in a report gave the details of findings against the ex-NSITF boss.

The report said in part: “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.

“She and others also diverted huge cash allocated for allowances of its staff and compensation to contributors. Detectives actually traced some of the NSITF funds in the personal accounts of Olojeme and the former MD, Umar Abubakar.

“For instance Abubakar and others dishonestly converted to N18billion, being contribution from the Federal Government of Nigeria as take-off grants and Employees Compensation Scheme (ECS) for MDAs.

“The said sum was diverted into personal accounts by an e-payment mandate jointly signed by Umar Munir Abubakar and Henry Ekhasomi Sambo.”

The report added: “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 assets and their locations 

  • Plot R/151(No. 30A) Kingsway Road, Old GRA, Enugu. Registered at Enugu Land Registry as No. 5 Page 5 in Volume 1659
  • Parcel of land measuring 4833.241 Sq. Metres located at Uberi Bush along Mbiama Road, Yenagoa, Bayelsa State
  • Parcel of land located at Igbanadan Bush, Emeya 2 Town Ogbia LGA in Bayelsa State.
  • Properties located at 196, Melford Okilo Road, Amarata-Epie, Yenagoa, Bayelsa State
  • Properties located at No. 25, Kainji Crescent, Off Lake Chad Crescent, Maitama , Abuja.
  • Property located at Plot No. 933 Cadastral Zone B01, Gudu District, Abuja
  • All that piece/parcel of land with C of O No. DSTR 1227 and the properties therein also known Umuezeafada family land located at KM 9, Asaba-Benin Express Road, Asaba, Delta State.
  • Plot 124 Cadastral Zone A02 Wuse Known as No. 30, Tunis Street, Off Lusaka Street, Wuse Zone 6, Abuja
  • Plot 3115 Cadastral Zone A04 Asokoro, Abuja.
  • Plot 2271 Cadastral Zone E12 Orozo, Abuja.
  • All that piece of land with C of O No. DTSR638 and the properties therein also known as Plot 101, Phase 1, Block 1 Core Area, Asaba Delta State
  • All that piece /parcel of land also known as Plot 1c, 3 and 4 Phase IV, Block 111 Core Area, Asaba, Delta State with C of O No. DTSR 1194.
  • No. 20 DBS Road, Asaba, Delta State
  • House/Flat 86, 11 Crescent, Kado Estate, Abuja
  • All that Piece/parcel of land and properties therein located at Ogbe Onishe Village in Umagwu Quarters, Asaba, Oshimili South LGA of Delta State also known as Luxury Suites and Resort Hotel, located off Nnebisi Road, Asaba
  • Properties located at No. 204 Nnebisi Road, Asaba beside STANBIC IBTC Bank
  • All that piece or parcel of land and properties thereof located at Elibujor Layout, Opp DLA office, Asaba Oshimili South LGA of Delta State. NSITF office located at Asaba Benin Expressway by Nuel Ojay Junction, Asaba.
  • Plot Nos 29 and 31 of  Umonyia Ejedeofor Family Layout Ibusa Road located along Benin-Asaba Expressway, Asaba, Delta State
  • All that piece/parcel of land with C of O No. DSTR 16326 and the properties therein also known as Plots 104 and 105, Block IV, Phase V, Core Area, Asaba, Delta
  • All that piece/parcel of land with C of O, No. DSTR 55853 and the properties therein also known as Plot 34. Phase 111, Block IV, Core Area. Asaba, Delta State
  • Properties located at No. 17, Ebenuwa Street, Off Nnebisi Road, Asaba, Delta State
  • No. 3D Opolo, Old Commissioners Quarters, Yenagoa, Bayelsa State
  • All that piece/parcel of land also known as plots 7,8,11,12,15,16,19, 20,23, and 24 Phase IV, Block 111, Core Area, Asaba, Delta State with C of O No. DSTTR1194
  • All that piece/parcel of land with C of O No. DSTR15303 and the properties therein also known as Plot No. 16 Central Spine Phase IV, Asaba, Oshimili South LGA of Delta State
  • All that piece/parcel of land  with C of O No. DSTR 16325 and the properties therein also known as  Plots 109 and 110, Block IV, Phase V, Core Arae, Asaba Delta State
  • All that piece/parcel of land with C of O No. DSTR 13807 and the properties therein measuring 80.532 hectares in Aboha-Ogwashi-Uku(Layout) at Aniocha LGA. Delta State.
  • All that piece/parcel of land with C of O No. DSTR 15046 and the properties therein also known as Plots 96, 97, and 98 Layout Survey of Block 1, Bridge-Head, Asaba, Oshimili South LGA of Delta State measuring 6.684 hectares
  • All that piece/parcel of land and the properties therein located at No. 42 Lawrence Road Akintola via Okpe Road, Sapele, Delta State measuring 1274.95 Square Meters and registered at Land Registry Asaba as No. 8 at page in Vol at 8
  • All that piece/parcel of land and the properties therein located at Orugbe Bush, Emeyal 11 Town Ogbia LGA, Bayelsa measuring 3, 625.493 Square Metres.
  • All that piece/parcel of land and the properties therein located at No 6 Sir C.A. Aghara Drive off Okpanam Road by NNPC Filling Station, Asaba, Delta State
  • All that piece/parcel of land and the properties therein located at Oduke, Off Uche Nwembu Road, off Asaba-Benin Expressway, Asaba Delta State.
  • All that piece/parcel of land and the properties therein located at No. 3, Ogwa Godspower Avenue, Oshimili LGA, Asaba, Delta State.
  • All that piece/parcel of land and the properties therein located No. 11 Chiweta Street, off Ezenie Avenue, Asaba, Delta State.
  • All that piece/parcel of land and the properties therein located at James Odeta Street, Oshimili South LGA, Asaba, Delta State.
  • All that piece/parcel of land and the properties therein located at No. 8, Thomas Chukwunike Street, Oshimili South LGA, Asaba, Delta State.
  • All that piece/parcel of land and the properties therein located at No. 11 Mokolo Close, Off Summit Road, therein located at No. 8, Thomas Chukwunike Street, Oshimili
  • All that piece/parcel of land and the properties therein located at No. 11, Okadigbo Street, off Nebisi Road, Asaba, Delta State.
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Renewed Hope : No governor can complain of lack of funds under Tinubu’s administration, Says Sanwo-Olu,

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Lagos State Governor, Babajide Olusola Sanwo-Olu, has declared that under the administration of President Bola Ahmed Tinubu, no state governor or local government chairman can genuinely complain of a lack of funds.

He said the Tinubu administration has significantly increased allocations to subnational governments, ensuring that states and local councils have more resources to meet their developmental obligations.

Sanwo-Olu stated this on Tuesday, November 11, while delivering the keynote address at a one-day public lecture organized by the Arewa Think Tank (ATT) to commemorate Nigeria’s 65th Independence anniversary at the Arewa House, Kaduna.

The lecture, themed “65 Years of Nigeria’s Independence: The Journey So Far with the Renewed Hope Agenda in View,” brought together political leaders, academics, youth groups, and other stakeholders to reflect on Nigeria’s national progress and future under President Tinubu’s Renewed Hope Agenda.

The Lagos Governor praised the resilience and ingenuity of Nigerians since independence, noting that despite the country’s challenges, its capacity for growth, reform, and unity remains unmatched.

“Today, that story has changed. Ask any State Governor or Local Government Chairman, and they will tell you just how much revenue has surged under the watch of President Bola Ahmed Tinubu. There is now more money to do more that benefits the people of Nigeria,” Sanwo-Olu said.

He attributed the improved fiscal outlook to deliberate policy reforms by the Tinubu administration, particularly those designed to strengthen federalism and empower the states and local governments.

According to him, between 2023 and 2024, federal allocations to state governments rose by about 62 percent, while allocations to local governments increased by 47 percent. He said the recently enacted tax reforms, which reduced the Federal Government’s share of Value Added Tax (VAT) from 15 percent to 10 percent, further underscored the President’s commitment to fiscal decentralization and grassroots development.

“With the new tax laws, states now get 55 percent of VAT, while local governments receive 35 percent. This is another bold step by the President to ensure that governance is closer to the people,” he noted.

Sanwo-Olu also lauded the President’s insistence on local government financial autonomy, recalling the administration’s Supreme Court victory, which secured historic legal backing for that autonomy.

He disclosed that President Tinubu’s next major reform focus is restructuring Nigeria’s security architecture through the creation of State Police, an initiative he described as “long overdue and fundamental.”

Citing Tinubu’s recent remarks during a meeting with Katsina leaders, Sanwo-Olu quoted: “I am reviewing all aspects of security. I have to create a State Police. We are looking at that holistically. We will defeat insecurity.”

He described the Renewed Hope Agenda as a bridge-building framework aimed at uniting Nigeria’s diverse regions through equity, reform, and inclusive development.

“President Tinubu is a veteran unifier and a bridge-builder. His Renewed Hope Agenda is about connecting Nigeria, bridges of reform, prosperity, and national unity,” he said.

Drawing inspiration from Nigeria’s founding fathers, especially the late Sir Ahmadu Bello, the Sardauna of Sokoto, Sanwo-Olu emphasized that true national development must be homegrown and context-specific.

“More than six decades later, Sardauna’s words still ring true. Our duty is to build on those legacies, planting trees we may not sit under, but ensuring a better Nigeria for future generations,” he said.

He reaffirmed that Nigeria’s diversity remains its greatest strength, saying: “We will continue to affirm that Nigeria is a proudly multi-ethnic, multi-religious, and multicultural country. What binds us together is far stronger than what divides us. We shall overcome every challenge, poverty, hunger, and terrorism.”

Sanwo-Olu pledged Lagos State’s continued partnership with the Federal Government in actualizing the Renewed Hope Agenda and building a prosperous, inclusive, and resilient nation.

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Organ Transplant Scandal : Tinubu engages UK, seeks Ekweremadu’s transfer to Nigeria

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President Bola Tinubu has sent a high-level delegation to London to discuss the case of a former Deputy Senate President, Ike Ekweremadu, who has been serving a prison sentence in the United Kingdom since March 2023.

Newsthumb gathered that the Federal Government is actively seeking arrangements that would allow Ekweremadu to serve the remainder of his sentence in Nigeria.

The delegation, which included the Minister of Foreign Affairs, Yusuf Tuggar, and the Attorney General and Minister of Justice, Lateef Fagbemi, on Monday held discussions with officials at the UK Ministry of Justice regarding Ekweremadu’s incarceration.

Following the meeting, the team was received at the Nigerian High Commission in London by the Acting High Commissioner to the UK, Ambassador Mohammed Maidugu.

Confirming the development to Arise News on Monday night, the spokesman for the Foreign Affairs Minister, Alkasim AbdulKadir, said the consultations with UK authorities are ongoing.

He added that a formal request for a prisoner transfer to allow Ekweremadu to serve the remainder of his sentence in Nigeria has been submitted.

He said, “Consultations are still ongoing with UK authorities on the matter.

“An appeal for a prisoner exchange for him to serve the remainder of his term in Nigeria was tabled before the United Kingdom authorities.”

Our correspondence earlier reported that Ekweremadu and his wife were arrested by the London Metropolitan Police in June 2022, after a man was falsely presented to a private renal unit at Royal Free Hospital in London as a cousin to their daughter Sonia, in what turned out to be a failed attempt to persuade medics to carry out an £80,000 transplant.

Ike Ekweremadu was convicted in the UK for his role in organ trafficking after attempting to bring a 21-year-old Lagos street vendor to Britain for a kidney transplant intended for his daughter, Sonia.

The 21-year-old man, who was allegedly promised work in the UK, reported the matter to the police in May of the same year, stating that he was brought to the country for an organ transplant.

In March 2023, Ekweremadu was found guilty of organ trafficking by a UK court and was later, in May, sentenced to nine years and eight months under the UK Modern Slavery Act.

His wife, Beatrice, received a four-year and six-month sentence and was released early in 2025, while a medical intermediary, Dr Obinna Obeta, was handed a ten-year prison term.

However, in January, Beatrice was released from prison and returned to Nigeria.

The case drew widespread attention, sparking diplomatic discussions between Nigeria and the UK, exposing gaps in transplant regulations, and prompting further investigations in the UK.

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Warri- Itakpe train derailment: Police parade suspects, CP Kwaimo, Says vandalism is an economic sabotage

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Warri- Itakpe train derailment: Police parade arrested suspects … this act of vandalism is an economic sabotage – CP Kwaimo

…… Railway properties are critical national assets and not scraps, we are going to deploy technology for rail tracks monitoring – Opeifa

The Railway Command of the Nigeria Police Force today Friday 7th November 2025 at it’s headquarters in Ebute Metta, Lagos, paraded the two suspects arrested in connection with the derailment of the Warri Itakpe train service on Sunday 1st of November 2025.

Speaking to newsmen, the Commissioner of Police Nigeria Police Railway Command, CP Vungmoh S.M. Kwaimo, described the vandalism of train tracks as an act of economic sabotage which will be fought to a standstill. According to CP Kwaimo, the suspects, identified as Mudansuru Mutari (male, aged 27) and Blorie Kokori (aged 39), were apprehended around Kilometer 208 before Abraka, Delta State, on Tuesday, November 4, 2025, by operatives of the NRC Police Command in collaboration with local security agents.

CP Kwaimo described the arrest as a breakthrough in the fight against train tracks vandalism in the Agbor Abraka axis. According to him, “We are going all out against the vandals because we have a responsibility to ensure safety of life and property in line with section 4 of the Police Act”.

According to the CP, preliminary investigations and their confessional statements revealed their direct involvement in tampering with vital components of the rail track. He said, “We will pursue this case to see that justice is served”. He also promised to go after the sponsors, some of whom have been identified in Lagos and Agbor.

The CP used the occasion to inform the public that the number of policemen attached to each coach in the operations of the Nigerian Railway is to be increased. He expressed gratitude to President Bola Tinubu, the Inspector General of police and the management team of the NRC for their support and zero tolerance for railway vandalism.

CP Vungmoh Kwaimo at the parade of the suspects was flanked by his officers and men which included DCP Yahaya Mana DC (CID), DCP Toyin O. Sulyman DC (OPS), ACP Ibrahim Audu AC (OPS), among others.

In a similar vein, the president general of the Nigerian Union of Railwaymen comrade Innocent Luka Ajiji who led members of his executive to the parade of the suspects, was full of praise for the new leadership of the Nigerian Railway police command under CP Kwaimo Vungmoh for their tireless efforts in the fight against rail tracks vandalism, just as he commended the management of NRC led by Dr Kayode Opeifa for the reinvigoration and turn around of the Nigerian Railway Corporation and railway men for their commitment to their duty even in the face of challenges and setbacks caused by train tracks vandalism.

Similarly, the managing director and chief executive officer of the NRC Dr Kayode Opeifa while speaking to newsmen in his office, called on states governments to show concern to take ownership of the railway tracks that passes through their states through the provision of infrastructures like motorable roads to the train stations.

Comrade Opeifa reiterated his warning that railway properties are critical national assets and not scraps, and warned vandals and their sponsors to stay away or face the full weight of the law. According to the NRC helmsman, “Railway properties are national assets, stay away, we are changing strategies to secure train tracks, We are deploying technology and the use of local communities to safe guard our train tracks”.

According to Dr Opeifa, “We are prosecuting many arrested vandals of train tracks and will not stop, unless they stay away from our national assets”.

Dr. Opeifa emphasized that the NRC under his leadership remains focused on President Bola Tinubu administration Renewed Hope Agenda and will not compromise in the provision of efficient service delivery and safety of it’s passengers whose comfort is non negotiable.

He identified funding as a major challenge in the operations of the NRC, but noted that the support of states governments remains critical, to enhancing quality and efficient service delivery to the people.

Comrade Opeifa said that the corporation was in talks with the Rural Electrification Agency to provide electricity to the stations and trains tracks to about 500 meters to the train stations. He also called on the members of the national assembly to consider the Nigerian Railway Corporation (NRC) in their constituency projects.

Speaking on the derailed Warri Itakpe train of the 1st of November 2025, Dr Opeifa stated that only two coaches were affected as a result of the removed bolts and clips. He highlighted that over 300 bolts and clips were removed within the axis which caused the derailment, but that the re-railment was concluded within 24 hours, but due to the need to carry out necessary and diligent safety checks, the resumption of train services had to be put on hold temporarily and that train service has resumed on the corridor.

Comrade Opeifa used the occasion of the press briefing to appreciate and commend the commuting public whose loyalty, according to him, “Strengthened our resolve to remain committed and undeterred by the derailment setbacks”.

 

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