EFCC arraigns Osabohein Ologbose, spouse, for alleged N740 million funding fraud 

The Financial and Monetary Crimes Fee on Monday arraigned the Chief Govt Officer of Onome International Market Assets Restricted, Osabohein Ologbose and his spouse, Hope Onome Oghelemu, over an alleged N740 million funding fraud.

That is in keeping with a press release issued by the anti-graft company on X on February 16, 2026.

The defendants had been introduced earlier than Justice Ekerete Akpan of the Federal Excessive Courtroom in Abuja alongside their corporations, Onome International Market Assets Restricted and Lexicon Multi-concept Media Restricted, on expenses linked to funding fraud and cash laundering

What the EFCC stated 

In keeping with the Fee, investigations revealed that the defendants allegedly induced members of the general public to speculate funds underneath the pretence of financing the procurement and exportation of bitter kola and purple kolanut to Hong Kong, China and Indonesia, with guarantees of returns on funding.

Investigators additional disclosed that traders neither obtained the promised returns nor had their capital refunded.

They had been arraigned on a seven-count cost bordering on acquiring by false pretence, conversion of funds and cash laundering to the tune of about N740million  opposite to Part 18(2)(b) of the Cash Laundering Prevention and Prohibition Act 2022 and punishment underneath Part 18(4) of the identical Act.

Prosecution counsel O.S. Ujam knowledgeable the court docket that amended expenses had been filed on January 28, 2026, and prayed the court docket to learn them to the defendants.

• Rely one of many amended-charge reads: “That you just Osabohien Alex Ologbosele, generally between January 2023 and April 2024, in Abuja throughout the jurisdiction of this Honourable court docket, instantly took possession of the mixture sum of N340, 000,000(Three Hundred and Forty Million Naira ) paid into your account with account quantity 202277 3919 domiciled in Kuda Microfinance Bank Restricted, from the account of Hope Onome Ogbholemu with account quantity, 0827261710  domiciled in Access Bank PLc, once you fairly must have recognized that the stated sum shaped a part of the proceeds of illegal act and also you thereby dedicated an offence opposite to Part 18(20(a) of Cash Laundering (Prevention and Prohibition)Act 2022, and punishable underneath Part 18(3) of the identical Act.” 
• One other rely reads; “That you just Osabohien Alex Ologbosele, generally between January 2023 and April 2024, in Abuja throughout the jurisdiction of this Honourable court docket, instantly used the mixture sum of N24,100,000(Twenty 4 Million, One Hundred Thousand Naira) paid into your account with account quantity 2022773919 domiciled in Kuda Microfinance  Bank Restricted from the account of Hope Onoe Ogbhelemu with account quantity 0827261710 domiciled in Access Bank Plc, to determine and function a music and picture studio situated at Crowther Plaza, Gudu District, Abuja, once you knew or must fairly must have recognized that the stated sum shaped a part of the proceeds of an illegal act and also you thereby dedicated an offence opposite to Part 18(2)(d) of the Cash Laundering(Prevention and Prohibition)Act 2022, and punishable underneath Part 18(3) of the identical Act.”. 

Extra insights 

On the arraignment, the defendants pleaded not responsible to the fees.

• Following the plea, the prosecution requested a trial date. Defence counsel Marshal Abubakar urged the court docket to permit the primary defendant to proceed having fun with the executive bail earlier granted and requested bail for the third defendant, citing the necessity to take care of a one-year-old youngster.
• In his ruling, Justice Akpan denied bail to the third defendant however allowed the primary defendant to proceed underneath the executive bail circumstances.
• The choose ordered that the third defendant be remanded on the Suleja Correctional Centre and adjourned the matter till April 27, 2026, for a particular listening to.

What it’s best to know 

The EFCC has been investigating a number of alleged Ponzi and funding‑associated fraud schemes throughout Nigeria, together with the arrest of 28 suspected operators linked to a Q‑Internet funding outfit in Minna, Niger State.

• The company additionally publicly alerted Nigerians about 58 corporations alleged to be working unlawful Ponzi‑fashion funding schemes that aren’t registered with the Central Bank of Nigeria or the Securities and Change Fee.

• In a excessive‑profile case, the EFCC arrested the CEO of Gavice Logistics Restricted over an alleged N2 billion Ponzi‑fashion fraud involving a whole lot of traders who couldn’t get better their funds.
• One other vital prosecution noticed the EFCC arraign a director over a N13.8 billion Ponzi scheme that reportedly defrauded greater than 3,000 traders with guarantees of month-to-month returns.