The Economic and Financial Crimes Commission on Monday, February 16, 2026, arraigned the Chief Executive Officer of Onome Global Market Resources Limited and Lexicon Multi-concept Media Limited, Osabohien Ologbosele, alongside his wife, Hope Oghelemu, before Justice Ekerete Akpan of the Federal High Court in Abuja.
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The two companies, Onome Global Market Resources Limited and Lexicon Multi-concept Media Limited, were also listed as defendants in the case.
A statement by the EFCC spokesman, Dele Oyewale said they were arraigned on seven charges bordering on obtaining by false pretence, conversion of funds and money laundering to the tune of about N740 million, contrary to Section 18(2)(b) of the Money Laundering (Prevention and Prohibition) Act, 2022, and punishable under Section 18(4) of the same Act.
At the arraignment, prosecution counsel, O. S. Ujam, informed the court that amended charges filed on January 28, 2026, were ready to be read to the defendants.
One of the amended counts alleged that Osabohien Alex Ologbosele, between January 2023 and April 2024 in Abuja, took possession of N340 million paid into his Kuda Microfinance Bank account from his wife’s Access Bank account, funds he allegedly knew or ought to have known were proceeds of unlawful activities.
The EFCC also alleged that he used N24.1 million from the same source to establish and operate a music and photo studio at Crowther Plaza in the Gudu District of Abuja.
“That you Osabohien Alex Ologbosele, sometimes between January 2023 and April 2024, in Abuja within the jurisdiction of this Honourable court, directly used the aggregate sum of N24,100,000 (Twenty Four Million, One Hundred Thousand Naira) paid into your account with account number 2022773919 domiciled in Kuda Microfinance Bank Limited from the account of Hope Onoe Ogbhelemu with account number 0827261710 domiciled in Access Bank Plc, to establish and operate a music and photo studio located at Crowther Plaza, Gudu District, Abuja, when you knew or ought to reasonably ought to have known that the said sum formed part of the proceeds of an unlawful act and you thereby committed an offence contrary to Section 18(2)(d) of the Money Laundering(Prevention and Prohibition)Act 2022, and punishable under Section 18(3) of the same Act,” the statement partly read.
The defendants pleaded not guilty to all the charges.
Following the plea, Ujam asked the court to fix a date for the commencement of the trial. Defence counsel, Marshal Abubakar, requested that the first defendant be allowed to continue on the administrative bail earlier granted by the court and also sought 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 on administrative bail. He ordered that the third defendant be remanded at the Suleja Correctional Centre and adjourned the case to April 27, 2026, for a definite hearing.
Oyewale said investigations by the EFCC revealed that the defendants allegedly induced several individuals to invest funds under the guise of procuring and exporting bitter kola and red kolanut to Hong Kong, China and Indonesia, with promises of returns on investment.
The commission said further findings showed that investors neither received the promised returns nor had their capital refunded.
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