Nigeria, July 24 -- The Federal High Court in Ikoyi, Lagos, on Thursday, convicted Olufemi Martins Thomas, a former Executive Secretary of the National Health Insurance Scheme (NHIS), and Kabiru Sidi, a Bureau De Change operator, of their involvement in fraud case involving more than $2 million.

The judge, Ayokunle Faji, found Mr Thomas guilty of transacting beyond the legal threshold without utilising a financial institution, an offence contrary to money laundering regulations. He was subsequently sentenced to a fine of N10 million.

His co-defendant, Mr Sidi, was found guilty of making a false statement to an investigating officer of the Economic and Financial Crimes Commission (EFCC) and was fined N100,000.

EFCC brought amended seven...