The Economic and Financial Crimes Commission (EFCC) on Monday, February 17, 2026, arraigned an Abuja-based couple, Osabohein Ologbose and his wife Hope Oghelemu, before Justice Ekerete Akpan of the Federal High Court in Abuja on a seven-count charge bordering on obtaining by false pretence, conversion of funds, and money laundering.
The couple appeared alongside two companies—Onome Global Market Resources Limited and Lexicon Multi-Concept Media Limited—facing allegations contrary to Section 18(2)(b) and punishable under Section 18(4) of the Money Laundering (Prevention and Prohibition) Act, 2022.
According to the EFCC, between January 2023 and April 2024, Osabohein Ologbose allegedly took possession of ₦340 million transferred from his wife’s Access Bank account into his Kuda Microfinance Bank account, “when he reasonably ought to have known that the sum formed part of the proceeds of an unlawful act.”
Another count accuses him of using ₦24.1 million from the same source to establish a music and photo studio at Crowther Plaza, Gudu District, Abuja, again knowing or reasonably ought to have known that the funds were proceeds of crime.
The commission further alleged that the couple fraudulently induced unsuspecting investors to part with money under the pretext of procuring and exporting bitter kola and red kolanut to Hong Kong, China, and Indonesia, with promises of attractive returns. Investigations revealed that none of the investors received their promised profits or had their capital refunded.
At the arraignment, defence counsel Marshal Abubakar applied for the continuation of the administrative bail earlier granted to the first defendant (Osabohein Ologbose) and sought bail for the second defendant (Hope Oghelemu), citing that she is currently nursing a one-year-old baby.
Justice Akpan granted the application for Ologbose to remain on administrative bail but denied bail to Oghelemu, ordering that she be remanded at the Suleja Correctional Centre.
The case was adjourned to April 27, 2026, for definite hearing.
The EFCC described the arraignment as part of its sustained efforts to bring to justice individuals and entities involved in large-scale financial crimes across Nigeria.
This development follows other recent high-profile fraud cases, including the arrest of a Lagos couple accused of staging a fake kidnapping to extort ₦10 million from relatives and friends.
