EFCC Arraigns Couple, Firms Over ₦740m Investment Scam
The Economic and Financial Crimes Commission has arraigned a husband and wife, alongside two companies, before the Federal High Court in Abuja over an alleged ₦740 million investment fraud.
The defendants — Osabohein Alex Ologbose, Chief Executive Officer of Onome Global Market Resources Limited and Lexicon Multi-concept Media Limited, and his wife, Hope Onome Oghelemu — were docked on Monday before Justice Ekerete Akpan on a seven-count amended charge bordering on obtaining by false pretence, conversion of funds, and money laundering.
The anti-graft agency alleged that the defendants laundered and converted proceeds of unlawful activities in violation of provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.
According to the prosecution, between January 2023 and April 2024, Ologbose allegedly took possession of N340 million paid into his Kuda Microfinance Bank account from an Access Bank account linked to his wife, funds he allegedly knew or ought to have known were proceeds of unlawful acts.
In another count, he was accused of using N24.1 million from the same funds to establish and operate a music and photo studio at Crowther Plaza, Gudu District, Abuja.
The EFCC further alleged that the defendants deceived unsuspecting investors into paying money into accounts belonging to Hope Onome Oghelemu and Onome Global Market Resources Limited under the guise of investing in the procurement and exportation of bitter kola and red kolanut to Hong Kong, China, and Indonesia, with promises of lucrative returns on investment.
Investigations revealed that the promised returns were neither paid nor were investors’ capital refunded.
At the arraignment, the defendants pleaded not guilty to the charges.
Prosecution counsel, O.S. Ujam, urged the court to fix a date for trial following the filing of amended charges on January 28, 2026. Defence counsel, Marshal Abubakar, requested that the first defendant be allowed to continue on administrative bail earlier granted by the court and sought bail for the third defendant, citing the need to care for a one-year-old child.
In his ruling, Justice Akpan allowed the first defendant to remain on administrative bail but denied bail to the third defendant, ordering her remand at the Suleja Correctional Centre.
The matter was adjourned to April 27, 2026, for definite hearing.
