EFCC arraigns two Nigerians for allegedly diverting N340 million in traders’ funds 

They had been arraigned earlier than Justice Ekerete Akpan of the Federal Excessive Court docket, Abuja Division, on April 14, 2025.

Within the EFCC’s amended cost marked FHC/ABJ/CR/86/2025, the defendants had been accused of contravening Part 18(2)(a) of the Cash Laundering (Prevention and Prohibition) Act, 2022, by way of their actions.

EFCC Allegations 

One of many expenses reads:

“That you just, Osabohien Alex Ologbosele, someday within the years 2023 and 2024, in Abuja, throughout the jurisdiction of this Honourable Court docket, straight took possession of the overall sum of N340,000,000 (Three Hundred and Forty Million Naira), paid into your account quantity 2022773919 domiciled at Kuda Microfinance Financial institution, from the account of Hope Onome Ogholemu with account quantity 0827261710 domiciled at Entry Financial institution, whenever you knew or fairly should have identified that the mentioned sum fashioned a part of the proceeds of an illegal act; and also you thereby dedicated an offence opposite to Part 18(2)(a) of the Cash Laundering (Prevention and Prohibition) Act, 2022, and punishable underneath Part 18(3) of the identical Act.” 

• Lexicon Multiconcept Media Restricted was additionally accused of straight possessing a part of the funds.

• At varied instances between 2023 and 2024, the EFCC alleged that the defendants diverted traders’ monies, together with quantities of N25 million, N32,950,000, and N24,100,000.

The EFCC’s court docket paperwork seen by Nairametrics state that a number of affected traders will testify about how they had been allegedly induced to pay varied sums of cash into the accounts of Hope Onome Oghelemu and Onome International Market Sources Restricted, underneath the false pretense that the funds had been for the export of luggage of bitter kola to China, with guarantees of returns on their investments—which by no means materialized.

• The cost was supported by a petition from the regulation agency, Paul Erokoro & Co., which alleged fraudulent misrepresentation, acquiring cash by false pretenses, and diversion of funds totaling N739,670,000 belonging to their purchasers.
• In accordance with the petition, on March 20, 2023, Mr. Okafor Modestus and his pal, Mr. Maidebino Muktha,r approached NEXIM Financial institution to inquire concerning the procedures for exporting ginger and the necessities for acquiring export-related loans.
• They had been attended to by a NEXIM Financial institution supervisor who, throughout their interplay, allegedly disclosed that she was personally concerned within the export of bitter kola and pink kolanuts to Hong Kong, China, and Indonesia.
• The financial institution workers reportedly invited Mr. Okafor and others to accomplice along with her within the export enterprise.

“The entire quantity invested by the petitioners amounted to N739,670,000, which was paid into the corporate account of Onome International Market Sources Restricted underneath the guise of financing the procurement and export of bitter kola,” the petition partly reads.

• The petition additional claims that the traders had been allegedly deceived and that the related people could have diverted the invested funds for private acquire.

What Transpired in Court docket 

On the court docket session on April 14, 2025, the defendants pleaded not responsible to the EFCC’s expenses as learn by the court docket registrar.

• Their lawyer, Samuel Agala, seized the chance to request bail on liberal phrases.

• Nevertheless, EFCC counsel Ogechi Ujam opposed the bail software, insisting that the defendants may evade justice if granted bail, citing the alleged hostile habits of the suspects through the investigation.

• After listening to from either side, the decide adjourned the matter to Might 2 for a ruling on the bail software and ordered the defendants to be remanded in custody.