By Crystal Ugoeze
The Economic and Financial Crimes Commission (EFCC) on Monday, February 16, 2026, arraigned Osabohein Alex Ologbose, Chief Executive Officer of Onome Global Market Resources Limited and Lexicon Multi-concept Media Limited, alongside his wife, Hope Onome Oghelemu, before Justice Ekerete Akpan of the Federal High Court, Abuja.
The two companies—Onome Global Market Resources Limited and Lexicon Multi-concept Media Limited—were also listed as defendants in the case.
The defendants are facing a seven-count amended charge bordering on obtaining by false pretence, conversion of funds, and money laundering involving about N740 million. The charges are said to be contrary to provisions 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 requested that they be read to the defendants.
One of the counts alleges that Ologbose, between January 2023 and April 2024 in Abuja, directly took possession of N340 million paid into his Kuda Microfinance Bank account from an Access Bank account belonging to Hope Onome Oghelemu, knowing or reasonably expected to know that the funds were proceeds of unlawful activities.
Another count alleges that he used N24.1 million from the same account to establish and operate a music and photo studio at Crowther Plaza, Gudu District, Abuja, despite allegedly knowing that the money was derived from unlawful acts.
The defendants pleaded not guilty to all charges.
Following the plea, the prosecution requested a date for trial. Defence counsel, Marshal Abubakar, urged the court to allow the first defendant to continue on the administrative bail earlier granted and sought bail for the third defendant on the grounds that she is nursing a one-year-old baby.
In his ruling, Justice Akpan declined the bail application for the third defendant but permitted the first defendant to continue enjoying the administrative bail previously granted. The court ordered that the third defendant be remanded at Suleja Correctional Centre and adjourned the matter to April 27, 2026, for definite hearing.
According to the EFCC, investigations revealed that the defendants allegedly induced unsuspecting members of the public to invest in a purported export business involving bitter kola and red kolanut to Hong Kong, China, and Indonesia, with promises of high returns on investment.
However, the commission alleged that investors neither received the promised returns nor had their capital refunded.