Nigeria judges couple over alleged N740 million investment fraud

A Federal High Court in Abuja is trying Osabohein Alex Ologbose, chief executive of Onome Global Market Resources Ltd and Lexicon Multi‑concept Media Ltd, and his wife Hope Onome Oghelemu for an alleged N740 million investment scam. The Economic and Financial Crimes Commission has charged the duo with seven counts, including obtaining money by false pretence, conversion of funds and money‑laundering under the Money Laundering (Prevention and Prohibition) Act.

Prosecution witness Chinyere Okoroafor, a civil servant, testified that she lost N58.1 million after being introduced to a bitter‑kola export scheme by Alice Ayeni Alade, a staffer at NEXIM Bank. Promised eight‑week returns from shipments to China, Hong Kong and Indonesia never materialised. The court rejected the defence’s request for an adjournment and set the next hearing for 1 July 2026 for cross‑examination.