The Economic and Financial Crimes Commission (EFCC) has arraigned Osabohien Ologbosele, CEO of Onome Global Market Resources Limited and Lexicon Multi-concept Media Limited, and his wife, Hope Oghelemu, before a Federal High Court in Abuja for allegedly defrauding investors of N740 million. The couple, along with their companies, faces seven charges, including obtaining money by false pretenses, conversion of funds, and money laundering.

The EFCC alleges that Ologbosele and his wife induced individuals to invest in their companies, promising returns on investments in the procurement and export of bitter kola and red kolanut to countries like Hong Kong, China, and Indonesia. However, investors received no returns, and their capital wasn’t refunded.

Ologbosele is accused of using N24.1 million from the funds to establish a music and photo studio in Abuja. The defendants pleaded not guilty, and the court allowed Ologbosele to continue on administrative bail while remanding his wife at the Suleja Correctional Centre. The case is adjourned to April 27, 2026, for a definite hearing.