A prosecution witness in the alleged N740m investment fraud case involving the Chief Executive Officer of Onome Global Market Resources Limited and Lexicon Multi-concept Media Limited, Osabohein Alex Ologbose, and his wife, Hope Onome Oghelemu, has told the Federal High Court in Abuja how he lost over N28m to the scheme.
The witness, Modestus Uchenna Okafor, who testified before Justice Ekerete Akpan on Wednesday, said he was persuaded by an alleged accomplice, Alice Ayeni, to invest in the export of agricultural produce after meeting her at the Nigerian Export-Import Bank.
Led in evidence by the Economic and Financial Crimes Commission’s counsel, O.S. Ujam, Okafor said Ayeni introduced him to Onome Global Market Resources Limited and claimed to be a director of the company and a manager at NEXIM Bank.
According to him, Ayeni convinced him to invest in the export of bitter kola and red kola nuts to Hong Kong, China and Indonesia, assuring him of attractive returns.
He told the court that he initially paid N620,000 before making additional payments amounting to N28.08m into bank accounts provided by Ayeni for the purported export transactions.
Okafor said after several weeks of unfulfilled promises, he and other investors confronted Ayeni, who took them to the residence of Oghelemu, where they were assured that their investments and returns would soon be paid.
He added that the defendants later held a meeting with investors, apologising for the delay and attributing it to foreign companies handling the transactions.
The witness, however, said investigations by the Ministry of Foreign Affairs and the Nigerian Ports Authority revealed that there were no receiving companies abroad and no record of the shipments claimed by the defendants.
“That was when I concluded that I had been defrauded,” he told the court, adding that neither his investment nor the promised returns had been refunded.
The EFCC is prosecuting Ologbose, his wife, and their two companies on a seven-count charge bordering on obtaining by false pretence, conversion of funds and money laundering involving N740m. The defendants pleaded not guilty to the charges.
Justice Akpan adjourned the case until September 24, 2026, for continuation of trial.
