Dr Olufemi Martins Thomas, a former Executive Secretary of the National Health Insurance Scheme (NHIS), and a Bureau De Change operator, Kabiru Sidi, have been sentenced to jail by a federal high court in Lagos.
The conviction followed their arraignment over a $2,198,900.00 fraud by the Economic and Financial Crimes Commission (EFCC); the Federal High court found the duo guilty.
Their conviction was handed down by Justice Ayokunle Faji of the Federal High Court sitting in Ikoyi, Lagos, on Thursday, July 24, 2025.
Earlier, the EFCC Lagos Zonal Directorate 1, had arraigned the duo on an amended seven-count charge bordering on money laundering.
Six of the counts involved Thomas, who was accused of laundering and transferring proceeds of unlawful activities in violation of the Money Laundering (Prohibition) Act, 2011, as amended.
Sidi was prosecuted on a separate count for making a false statement to an EFCC official.
One of the charges against Thomas read: “That you, Dr. Martins Oluwafemi Thomas (a.k.a Dr. Ike), the former Executive Secretary of the National Health Insurance Scheme, on or about the 3rd of July, 2015, at Lagos, within the jurisdiction of this Honourable Court, procured Mrs. Femi Thomas to disguise the unlawful origin of the sum of $2,198,900 (Two Million, One Hundred and Ninety-eight Thousand, Nine Hundred United States Dollars), and you thereby committed an offence contrary to Section 18 and punishable under Section 15(2)(a) and (3) of the Money Laundering (Prohibition) Act, 2011 (as amended by Act No. 1 of 2012).”
The charge against Sidi stated: “That you, Kabiru Sidi, on or about the 15th of July, 2015, at the office of the Economic and Financial Crimes Commission, 15A Awolowo Road, Ikoyi, Lagos, within the jurisdiction of this Honourable Court, made a false statement to Afeez Mustapha, an investigating officer with the EFCC, to the effect that you gave over Two Million United States dollars to Bamidele Ibiteye, and you thereby commit- ted an offence contrary to Section 39(2)(b) and punishable under Section 39(2)(c) of the EFCC (Establishment) Act, 2004.”
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