EFCC ARRAIGNS ABUJA COUPLE ON CHARGES OF N740M FRAUD
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By: Muftau Fatimo
The Economic and Financial Crimes Commission (EFCC) on Monday arraigned an Abuja-based couple, Osabohein Ologbose and his wife, Hope Oghelemu, before Justice Ekerete Akpan of the Federal High Court, Abuja, over allegations of N740 million fraud.
The couple, along with two companies—Onome Global Market Resources Limited and Lexicon Multi-Concept Media Limited—faced seven charges, including obtaining by false pretence, conversion of funds, and money laundering, contrary to Section 18(2)(b) and punishable under Section 18(4) of the Money Laundering (Prevention and Prohibition) Act, 2022.
The EFCC stated that between January 2023 and April 2024, Ologbose allegedly took possession of N340 million transferred into his Kuda Microfinance Bank account from his wife’s Access Bank account, “when he reasonably ought to have known that the sum formed part of the proceeds of an unlawful act.”
Additionally, it was alleged that he used N24.1 million from the same funds to set up a music and photo studio at Crowther Plaza, Gudu District, Abuja, “when he knew or ought reasonably to have known that the sum formed part of the proceeds of an unlawful act.”
The EFCC further claimed that the couple induced unsuspecting investors to part with money for the purported procurement and export of bitter kola and red kolanut to Hong Kong, China, and Indonesia, promising attractive returns. Investigations revealed that investors neither received their returns nor had their initial investments refunded.
At the arraignment, defence counsel Marshal Abubakar requested that the first defendant continue enjoying the administrative bail previously granted and sought bail for the third defendant, citing that she was nursing a one-year-old baby.
Justice Akpan allowed Ologbose to remain on administrative bail but denied bail to Oghelemu, remanding her at the Suleja Correctional Centre. The case was adjourned until April 27, 2026, for a definite hearing.
The EFCC stated that the arraignment forms part of its continued efforts to hold individuals and organizations accountable for large-scale financial fraud in Nigeria.
The case comes amid other high-profile fraud probes, including the recent arrest of a Lagos-based couple accused of staging a kidnapping to extort N10 million from relatives and friends.
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