A Federal High Court sitting in Ikoyi, Lagos, on Thursday, July 24, 2025, convicted Dr. Olufemi Martins Thomas, a former Executive Secretary of the National Health Insurance Scheme (NHIS), and a Bureau De Change operator, Kabiru Sidi, for their roles in a $2,198,900 money laundering case.

Justice Ayokunle Faji handed down the judgment, following a full trial initiated by the Economic and Financial Crimes Commission (EFCC), which arraigned the duo on a seven-count amended charge bordering on money laundering and false statement.

The EFCC accused Dr. Thomas of laundering the funds through his wife, in violation of provisions of the Money Laundering (Prohibition) Act, 2011 (as amended). Kabiru Sidi, on his part, was charged with giving false information to EFCC investigators regarding the origin of the funds.

According to the prosecution, Dr. Thomas procured his wife, Mrs. Femi Thomas, to disguise the origin of over $2.1 million in cash, while Sidi falsely claimed he handed the money to one Bamidele Ibiteye.

Despite pleading not guilty, the court ruled that the EFCC had successfully established a prima facie case against both men.

Justice Faji found Thomas guilty of transacting beyond the lawful threshold without involving a financial institution, sentencing him to a fine of ₦10 million. He was, however, discharged on five of the seven counts.

Sidi was convicted of making a false statement to an EFCC officer and was sentenced to a ₦100,000 fine.

The EFCC hailed the ruling as a step forward in its effort to clamp down on high-profile financial crimes and ensure transparency in public office.