The Economic and Financial Crimes Commission (EFCC ) has arraign an Abuja-based couple, Osabohein Ologbose and Hope Oghelemu, in court over an alleged N740m fraud.
The EFCC arraigned the couple and two companies linked to them before the Federal High Court in Abuja over alleged offence of fund diversion and money laundering having obtained money through deception, unlawful fund conversion.
The EFCC filed seven count charge against the quatre suspects accusing them of the act which contravened its Money Laundering Prevention and Prohibition Act l, 2022.
The Commission submitted that the pair and their firms, Onome Global Market Resources Limited and Lexicon Multi-Concept Media Limited, violated the Act between January 2023 and April 2024, after Ologbose received the sum of N340m into a Kuda Microfinance Bank account from an Access Bank account owned by the second accused, Oghelemu, when he reasonably ought to have known that the sum formed part of the proceeds of an unlawful act.
At the proceedings yesterday before Justice Ekerete Akpan, prosecutors also told the court that the sum of N24.1 million from the same source was used to set up a music and photo studio at Crowther Plaza in the Gudu District, when he knew or ought reasonably to have known that the said sum formed part of the proceeds of an unlawful act.
Investigators further accused the couple of persuading investors to fund the supposed purchase and overseas shipment of bitter kola and red kolanut to Hong Kong, China and Indonesia, with assurances of high profits that never materialised and without refunding the principal sums.
During the hearing, defence lawyer Marshal Abubakar asked that Ologbose continue on the administrative bail earlier granted and requested bail for Oghelemu, explaining that she was caring for a one-year-old child while the matter proceeds in court.
Justice Akpan permitted Ologbose to retain his existing bail terms but refused the application for Oghelemu and ordered her detention at the Suleja Correctional Centre, fixing April 27, 2026, for the commencement of a definite hearing.
The commission said the prosecution forms part of its wider campaign to pursue individuals and organisations implicated in significant financial crimes and reinforce accountability within Nigeria’s financial system.
