A former Executive Secretary of National Health Insurance Scheme (NHIS), Olufemi Thomas has been convicted by a Federal High Court sitting in Ikoyi, Lagos.

Thomas, who was convicted alongside a Bureau De Change Operator identified as Kabiru Sidi, was sentenced after the duo were found guilty of committing the fraud of $2,198,900.00.

Daily Trust reports that Thomas was relieved of his appointment by then President Goodluck Jonathan in April 2015 over alleged financial malfeasance at the time.

The Economic and Financial Crimes Commission (EFCC) subsequently arraigned him alongside Sidi on an amended seven-count charge bordering on money laundering to the tune of $2,198,900.00

In a statement released Thursday night by the spokesman of the EFCC, Dele Oyewale, six of the counts against Thomas bordered on money laundering and transferring, in cash, proceeds of unlawful activities.

Oyewale explained that the former NHIS boss’ action was contrary to the provisions of the Money Laundering (Prohibition) Act, 2011 as amended.

He said the second defendant was, however, prosecuted only on count six bordering on making false statements to an official of the EFCC.

Delivering judgment yesterday, Justice Ayokunle Faji found Thomas “guilty of transacting beyond threshold without going through a financial institution” and sentenced him to a fine of N10,000,000.00.

The second defendant, Sidi, was found guilty of making a false statement to an investigating officer with the EFCC and sentenced to a fine of N100,000.00.

Justice Faji, however, discharged Thomas on counts one, two, three, four and seven of the charge. (Daily Trust)