EFCC Drags Husband, Wife, Two Firms To Court Over Alleged N740m Investment Scam

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, Abuja, over an alleged  N740 million investment fraud.

Also joined as defendants are the two companies — Onome Global Market Resources Limited and Lexicon Multi-Concept Media Limited.

The defendants were arraigned on a seven-count amended charge bordering on obtaining by false pretence, conversion of funds, and money laundering, 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 the amended charges were filed on January 28, 2026, and prayed the court to read them to the defendants.

One of the counts alleges that Ologbose, between January 2023 and April 2024 in Abuja, 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 ought to have known that the funds formed part of the proceeds of unlawful activity.

Another count alleges that he used ?24.1 million from the same funds to establish and operate a music and photo studio at Crowther Plaza, Gudu District, Abuja, despite allegedly knowing the money was derived from unlawful acts.

The defendants pleaded not guilty to all charges.

Following the plea, the prosecution requested a trial date, while defence counsel, Marshal Abubakar, urged the court to allow the first defendant to continue on administrative bail earlier granted by the court. He also sought bail for the third defendant on the grounds that she is nursing a one-year-old child.

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 court ordered that the third defendant be remanded at the Suleja Correctional Centre and adjourned the matter until April 27, 2026, for definite hearing.

According to the EFCC, investigations revealed that the defendants allegedly induced unsuspecting investors to deposit funds into the accounts of Hope Onome Oghelemu and Onome Global Market Resources Limited under the pretext of financing the procurement and exportation of bitter kola and red kolanut to Hong Kong, China, and Indonesia, with promises of lucrative returns on investment.

The anti-graft agency further alleged that the promised returns were never paid and the invested sums were not refunded to the victims.