Ex-NHIS boss, Femi Thomas, BDC operator jailed over $2.1m fraud

The Federal Excessive Courtroom in Lagos has convicted Femi Thomas, former Govt Secretary of the Nationwide Well being Insurance coverage Scheme (NHIS), for breaching the N5 million money transaction restrict stipulated by legislation for people.

Presiding over the case, Justice Ayokunle Faji on Thursday delivered judgment on prices involving $2,198,900 filed towards Thomas by the Financial and Monetary Crimes Fee (EFCC).

The EFCC had arraigned Thomas and Kabiru Sidi, a bureau de change (BDC) operator, on a seven-count cost regarding cash laundering to the tune of $2,198,900.

Sidi was charged solely on depend six, which concerned making false statements to an EFCC official.

“That you simply, Dr. Martins Oluwafemi Thomas (a.okay.a Dr. Ike), the previous Govt Secretary of the Nationwide Well being Insurance coverage Scheme, on or in regards to the third of July, 2015 at Lagos, inside the jurisdiction of this Honourable Courtroom, procured Mrs. Femi Thomas to disguise the illegal origin of the sum of $2,198,900 (Two million, One Hundred and Ninety-eight Thousand, 9 Hundred United States {Dollars}) and also you thereby dedicated an offence opposite to Part 18 and punishable beneath Part 15(2)(a) and (3) of the Cash Laundering (Prohibition) Act, 2011 (as amended by Act No. 1 of 2012),” a part of the cost sheet reads.

Each defendants pleaded not responsible to the fees.

In a press release issued by the EFCC, prosecution counsel Ekele Iheanacho urged the court docket to convict the defendants, asserting that the case was clearly certainly one of cash laundering.

“The defendant entered his defence as a result of the legislation required him to point out how he acquired the funds legitimately,” Iheanacho stated.

“A part of his proof was that he made the funds closely from his farming companies. The proof of his farming was contained in his monetary assertion.

“It is a case of cash laundering, the place the difficulty of concealment of transaction is paramount and that’s the reason the legislation requires such transactions to undergo monetary establishments in order that there will probably be a trial.

“Any software that means in any other case will defeat the premise of part 1 of the Cash Laundering Act.”

Justice Faji discovered Thomas “responsible of transacting past the brink with out going by a monetary establishment” and imposed a effective of N10,000,000.

Nevertheless, the choose discharged Thomas on counts one, two, three, 4, and 7.

In April 2015, then-President Goodluck Jonathan relieved Thomas of his position as NHIS Govt Secretary.

Part 1 of the Cash Laundering (Prohibition) Act, 2011, gives that: “No particular person or physique company shall, besides in a transaction by a monetary establishment, make or settle for money cost of a sum exceeding “(a) N5,000,000.00 or its equal, within the case of a person; or “(b) N10,000,000.00 or its equal, within the case of a physique company.”