NHIS fraud conviction confirmed as ex-NHIS boss and BDC operator are found guilty in $2.2m case; EFCC secures judgment at Lagos Federal High Court

NHIS fraud conviction has been delivered by a Federal High Court in Lagos as former National Health Insurance Scheme (NHIS) Executive Secretary, Dr Olufemi Martins Thomas, and Bureau De Change operator, Kabiru Sidi, were both found guilty in a $2.2 million money laundering case.

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Justice Ayokunle Faji handed down the ruling on July 24, 2025, following a full trial initiated by the Economic and Financial Crimes Commission (EFCC).

The duo were prosecuted on an amended seven-count charge involving illegal financial transactions and making false statements.

Thomas was found guilty of transacting beyond the legal financial threshold without routing the funds through financial institutions, a violation of the Money Laundering (Prohibition) Act.

He was fined ₦10 million but discharged on five counts.

Sidi, convicted for making false statements during EFCC interrogation, received a ₦100,000 fine.

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According to EFCC’s counsel, Ekele Iheanacho (SAN), the prosecution proved its case with six witnesses, confirming that the funds were not lawfully acquired or declared.