The trial of the Chief Executive Officer of Onome Global Market Resources Limited and Lexicon Multi-concept Media Limited, Osabohein Alex Ologbose, his wife, Hope Onome Oghelemu, and their alleged associate continued at the Federal High Court in Abuja on Thursday, with a prosecution witness telling the court how he allegedly lost more than N500 million in an investment scheme.
The witness, Ikechukwu Chikelum, who testified as the third prosecution witness (PW3), told Justice Ekerete Akpan that he invested huge sums in the companies after being convinced they were involved in the export of bitter kola and other agricultural products to China, Hong Kong and Indonesia.
He alleged that despite investing over N500 million, he neither recovered his capital nor received any return on investment.
The Economic and Financial Crimes Commission (EFCC) is prosecuting Ologbose, his wife and their companies—Onome Global Market Resources Limited and Lexicon Multi-concept Media Limited—on a seven-count charge bordering on obtaining by false pretence, conversion of funds and money laundering involving about N740 million.
The anti-graft agency said the alleged offences contravene the Money Laundering (Prevention and Prohibition) Act, 2022.
Led in evidence by EFCC counsel, O.S. Ujam, Chikelum told the court that his friend, Modestus Uche Okafor, introduced him to the investment opportunity in June 2023.
According to him, Okafor later took him to meet Alice Ayeni, whom he identified as a director of Onome Global Market Resources Limited.
The witness said Ayeni explained that the company exported bitter kola to China and Hong Kong and presented him with documents about the business.
> “Modestus and I met Madam Alice Ayeni at NEXIM Bank. She explained the investment to me and gave me a profile of the company, Onome Global Market Resources Limited, which they use in exporting ‘bitter kola’ to China and Hong Kong. When I opened the profile, I saw the Chief Executive Officer as Onome Alex. I also saw the CEO’s husband’s picture there, Alex.
> “I also noticed that Ayeni is one of the directors of Onome Global Market Resources Limited. I saw the Corporate Affairs Commission certificate, the Special Control Unit against Money Laundering certificate from the EFCC, and the Export Promotion Council certificate. I was convinced that it was a genuine business to invest in.”
Chikelum told the court that he initially transferred N31 million from his Ecobank account for the purchase of 100 bags of bitter kola after being instructed to pay into an account belonging to Ayobola Anike Ventures.
He further testified that he later invested an additional N62 million for 200 bags of bitter kola after allegedly being encouraged to increase his investment.
According to the witness, he subsequently transferred N267.22 million for the export of 862 bags of bitter kola to China and another N220.15 million for 710 bags meant for export to Hong Kong.
He also told the court that he paid N20.4 million for 60 bags of red kolanut intended for export to Indonesia.
The witness said he forwarded all payment receipts to Ayeni through WhatsApp and that the transfers were acknowledged.
The case is part of the EFCC’s ongoing prosecution of the defendants over allegations that they fraudulently obtained investors’ funds through promises of returns from agricultural export businesses.
The matter was adjourned for the continuation of trial.
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