The Economic and Financial Crimes Commission (EFCC) has arraigned an Abuja-based couple, Osabohein Ologbose and his wife, Hope Oghelemu, before Justice Ekerete Akpan of the Federal High Court, Abuja.
The couple, along with two companies—Onome Global Market Resources Limited and Lexicon Multi-Concept Media Limited—face seven counts of obtaining by false pretence, conversion of funds, and money laundering.
The charges fall under Section 18(2)(b) and are punishable under Section 18(4) of the Money Laundering (Prevention and Prohibition) Act, 2022.
According to the EFCC, between January 2023 and April 2024, Ologbose allegedly took possession of ₦340m paid into his Kuda Microfinance Bank account from an Access Bank account belonging to his wife.
The agency said he “reasonably ought to have known that the sum formed part of the proceeds of an unlawful act.”
Another count alleged that he used ₦24.1m from the same source to establish a music and photo studio at Crowther Plaza, Gudu District, Abuja.
EFCC allege he “knew or ought reasonably to have known that the said sum formed part of the proceeds of an unlawful act.”
Investigators said the couple induced investors to provide funds for the supposed procurement and export of bitter kola and red kolanut to Hong Kong, China, and Indonesia.
Investors were promised attractive returns but reportedly received neither profits nor refunds.
Bail Decisions
At the arraignment, defence counsel Marshal Abubakar requested that Ologbose continue enjoying administrative bail and sought bail for Oghelemu, citing that she was nursing a one-year-old baby.
Justice Akpan allowed Ologbose to remain on administrative bail but denied bail to Oghelemu.
She was remanded at the Suleja Correctional Centre. The case was adjourned until April 27, 2026, for a definite hearing.
The EFCC described the arraignment as part of its ongoing effort to hold accountable individuals and entities involved in large-scale financial fraud.
This case follows other recent investigations, including the arrest of a Lagos couple accused of faking a kidnapping to extort ₦10m from relatives and friends.
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