EFCC Charges Osabohein Ologbose with N740M Fraud

On February 16, 2026, the Economic and Financial Crimes Commission (EFCC) arraigned Osabohein Ologbose, the Chief Executive Officer of Onom Global Market Resources Limited, and his wife, Hope Onom Oghelemu, for alleged investment fraud amounting to N740 million. The defendants were brought before Justice Ekeret Akpan at the Federal High Court in Abuja, alongside their company, Onom Global Market Resources Limited, and Lexicon Multi Concept Media Limited.

The charges stem from allegations that they induced members of the public to invest funds under the pretense of financing the procurement of export products such as bitter kola and red kolanut to Hong Kong, China, and Indonesia, promising returns on investments. Investigations revealed that investors neither received the promised returns nor capital refunds.

They are facing seven counts, including obtaining money under false pretenses and money laundering, in violation of the Money Laundering (Prevention and Prohibition) Act 2022. The prosecuting counsel, O.S.

Ujam, informed the court of an amended charge filed on January 28, 2026. The EFCC's investigations have also uncovered multiple Ponzi investment-related fraud schemes across Nigeria, leading to the arrest of 28 suspects linked to the Q-Net investment outfit in Minna, Niger State.