Dr. Ngozi Olojeme, former
NSITF chair, was quizzed for hours yesterday over the alleged diversion of the
fund.
Olojeme, who was declared
wanted a few weeks ago by the EFCC on the order of a court, turned herself in.
How was $48,485,127 diverted from the accounts of the Nigeria Social Insurance Trust Fund (NSITF)?
The cash was said to be the
Federal Government’s contribution to take-off grants and Employees Compensation
Scheme (ECS) for Ministries Departments and Agencies (MDAs).
The others are Henry
Ekhasomi Sambo, Adebayo Adebowale Aderibigbe, Chief Richard U. Uche and Aderemi
Adegboyega.
According to a source, the
ex-NSITF chairman reported to EFCC after going underground for a while.
The source said:
“We have been investigating
over N62.3billion fraud in NSITF during Olojeme’s tenure between 2009 and 2015.
Out of the sum, preliminary findings indicated that the ex-NSITF boss allegedly
diverted $48, 485, 127.
“She allegedly used her
account officer in First Bank of Nigeria (FBN) to collect the $48.4m from some
NSITF contractors through a BDC operator.”
The Nation obtained the
report on the probe. It states:
“That through this process,
Dr. Ngozi Olojeme, the then NSITF board chairman, has collected $48,485,127
from 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 converted N18billion, being contribution from the Federal Government 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 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 N62b, the
Federal Government contributed N13,600,000,000 while 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 bureaux
de change operators who changed them to dollars.”
The source said:
“Olojeme has made useful
statement to our team of investigators. We are probing clues that some of the
looted cash had been diverted to the prosecution of the 2015 general election
because Olojeme was the Deputy Chairman, Finance Committee, of the Goodluck
Jonathan Presidential Campaign Organisation.
“From preliminary findings,
she is likely to face trial like other top officers of NSITF.”
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