By Micah Jonah
February 17, 2026
The Economic and Financial Crimes Commission (EFCC) on Monday arraigned the Chief Executive Officer of Onome Global Market Resources Limited and Lexicon Multi-concept Media Limited, Osabohein Alex Ologbose, alongside his wife, Hope Onome Oghelemu, before Justice Ekerete Akpan of the Federal High Court sitting in Abuja over an alleged N740 million investment fraud.
Also joined in the seven-count charge are the two companies; Onome Global Market Resources Limited and Lexicon Multi-concept Media Limited.
The defendants are facing charges bordering on obtaining by false pretence, conversion of funds and money laundering to the tune of about N740 million, contrary to Sections 18(2)(b) and 18(4) of the Money Laundering (Prevention and Prohibition) Act, 2022.
At the arraignment, prosecution counsel O.S. Ujam informed the court that amended charges had been filed on January 28, 2026, and urged the court to read the same to the defendants.
One of the counts alleged that Osabohein Alex Ologbose, between January 2023 and April 2024 in Abuja, directly took possession of N340 million paid into his Kuda Microfinance Bank account from the account of Hope Onome Oghelemu domiciled in Access Bank Plc, when he reasonably ought to have known that the funds formed part of proceeds of unlawful acts.
Another charge stated that the defendant allegedly used N24.1 million from the same funds to establish and operate a music and photo studio at Crowther Plaza, Gudu District, Abuja, knowing or having reason to know that the money was proceeds of unlawful activity.
The defendants pleaded not guilty to the charges.
Following the plea, the prosecution asked the court to fix a date for commencement of trial. Defence counsel, Marshal Abubakar, prayed the court to allow the first defendant to continue enjoying the administrative bail earlier granted by the court. He also appealed for bail for the third defendant on the grounds that she is nursing a one-year-old baby.
In his ruling, Justice Akpan denied bail to the third defendant but allowed the first defendant to continue on administrative bail. The court ordered that the third defendant be remanded at the Suleja Correctional Centre and adjourned the matter to April 27, 2026, for definite hearing.
EFCC investigations revealed that the defendants allegedly induced unsuspecting investors to deposit funds into accounts belonging to Hope Onome Oghelemu and Onome Global Market Resources Limited under the pretext that the money would be invested in the procurement and exportation of bitter kola and red kolanut to Hong Kong, China and Indonesia with promised returns on investment.
The anti-graft agency further alleged that the investors neither received the promised returns nor had their capital refunded.
