The Economic and Financial Crimes Commission (EFCC) on Monday, February 16, 2026, 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.
The two companies were also listed as defendants in the matter. The defendants were arraigned on a seven-count charge bordering on obtaining by false pretence, conversion of funds, and money laundering involving about N740 million.
At the arraignment, prosecution counsel, O.S. Ujam, informed the court that the prosecution had filed amended charges on January 28, 2026, and urged the court to read them to the defendants.
According to the amended charge, Ologbose allegedly took possession of N340 million between January 2023 and April 2024 in Abuja. The money was reportedly paid into his account domiciled in Kuda Microfinance Bank Limited from an account belonging to Oghelemu with Access Bank Plc. The prosecution alleged that the funds were proceeds of unlawful activities.
Another count alleged that Ologbose used N24.1 million from the same account to establish and operate a music and photo studio at Crowther Plaza, Gudu District, Abuja, knowing or reasonably expected to know that the funds were proceeds of unlawful activities.
Following the defendants’ not guilty plea, Ujam asked the court to fix a date for the commencement of trial. Defence counsel, Marshal Abubakar, requested that the first defendant be allowed to continue with the administrative bail earlier granted by the court. He also appealed for bail for the third defendant, citing the need to care for a one-year-old baby.
In his ruling, Justice Akpan denied bail to the third defendant but allowed the first defendant to continue enjoying the administrative bail earlier granted. The judge subsequently ordered that the third defendant be remanded at the Suleja Correctional Centre and adjourned the case to April 27, 2026, for a definite hearing.
Investigations by the EFCC alleged that the defendants lured several citizens into paying money into accounts belonging to Oghelemu and Onome Global Market Resources Limited under the pretext of investing in the procurement and exportation of bitter kola and red kolanut to Hong Kong, China, and Indonesia, with promises of high returns on investment.
The commission further alleged that the investors neither received the promised returns nor had their investment capital refunded.
