The {Economic} and {Financial} Crimes Fee (EFCC) has arraigned Osabohien Alex Ologbosele, Lexicon Multiconcept Media Restricted, and Augustine Osas Iyoha for allegedly diverting investor funds amounting to about N340 million.
They had been arraigned earlier than Justice Ekerete Akpan of the Federal Excessive Courtroom, Abuja Division, on April 14, 2025.
Within the EFCC’s amended cost marked FHC/ABJ/CR/86/2025, the defendants had been accused of contravening Part 18(2)(a) of the Cash Laundering (Prevention and Prohibition) Act, 2022, via their actions.
One of many prices reads:
“That you simply, Osabohien Alex Ologbosele, someday within the years 2023 and 2024, in Abuja, inside the jurisdiction of this Honourable Courtroom, immediately took possession of the overall sum of N340,000,000 (Three Hundred and Forty Million Naira), paid into your account quantity 2022773919 domiciled at Kuda Microfinance Bank, from the account of Hope Onome Ogholemu with account quantity 0827261710 domiciled at Access Bank, if you knew or moderately must have recognized that the stated sum fashioned a part of the proceeds of an illegal act; and also you thereby dedicated an offence opposite to Part 18(2)(a) of the Cash Laundering (Prevention and Prohibition) Act, 2022, and punishable underneath Part 18(3) of the identical Act.”
The EFCC’s courtroom paperwork seen by Nairametrics state that a number of affected traders will testify about how they had been allegedly induced to pay varied sums of cash into the accounts of Hope Onome Oghelemu and Onome International Market Assets Restricted, underneath the false pretense that the funds had been for the export of luggage of bitter kola to China, with guarantees of returns on their investments—which by no means materialized.
“The whole quantity invested by the petitioners amounted to N739,670,000, which was paid into the corporate account of Onome International Market Assets Restricted underneath the guise of financing the procurement and export of bitter kola,” the petition partly reads.
On the courtroom session on April 14, 2025, the defendants pleaded not responsible to the EFCC’s prices as learn by the courtroom registrar.
