A prosecution witness in the ongoing trial of Osabohein Alex Ologbose, CEO of Onome Global Market Resources Limited and Lexicon Multi-Concept Media Limited, and his wife, Hope Onome Oghelemu, has testified in court about losing N58.1 million in an alleged fraudulent investment scheme linked to the defendants. The testimony was delivered on June 22, 2026, before Justice Ekerete Akpan of the Federal High Court in Abuja, as part of a seven-count charge filed by the Economic and Financial Crimes Commission (EFCC) over alleged fraud, conversion of funds, and money laundering involving a total of N740 million.
The witness, Chinyere Okoroafor, a civil servant, stated that she was introduced to the investment scheme by Alice Ayeni Alade, whom she identified as a staff member of the Nigerian Export-Import Bank (NEXIM). Okoroafor said the business was presented as a bitter kola export venture targeting markets in China, Hong Kong, and Indonesia, with promising returns after an eight-week investment cycle. She trusted the proposal because it appeared legitimate and was endorsed by someone she believed to be knowledgeable in export trade.
According to her, the investment was operated through Onome Global Market Resources Limited, and she was assured that the returns would be processed after sourcing, shipment, and payment from foreign buyers. Okoroafor disclosed that she invested a total of N58.1 million, which she transferred directly into Alade’s GTB bank account. She emphasized that she was told the funds would be channeled to Ologbose and Oghelemu, the defendants in the case.
When the eight-week period ended, Okoroafor did not receive her investment returns or the principal amount. Alade claimed she had not received payment from the defendants, citing various excuses such as flooding in China, fires in Hong Kong, and freight delays. These explanations were repeated over time, and the defendants allegedly participated in meetings with investors, including one facilitated by church leaders, where they promised payments within two weeks.
Okoroafor said she eventually concluded that the investment was a scam after months of delays and no tangible evidence of operations. She reported the matter to the EFCC, noting that while she was shown company documents and Corporate Affairs Commission records, no actual returns were ever made. She confirmed that Alade acknowledged receiving her N58.1 million and even showed proof that the money was transferred to the defendants.
The witness reiterated that she has not received any return on investment or recovery of her principal sum to date. Justice Akpan adjourned the case until July 1, 2026, for cross-examination. The trial continues to unfold as the EFCC seeks to prove the defendants’ involvement in a widespread financial fraud affecting multiple investors across Nigeria.
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