EFCC Arraigns Abuja Couple Over Alleged ₦740m Fraud
By 𝔸bdulrazak Tomiwa
The EFCC has arraigned Osabohein Ologbose and his wife, Hope Oghelemu, for a ₦740 million fraud involving money laundering and false pretenses.
They allegedly used two companies to orchestrate the scam between 2023 and 2024.
The couple reportedly lured investors into a fake bitter kola and red kola nut export scheme targeting Asian markets. Victims never received the promised high returns, and their initial capital disappeared without a trace.
Investigations revealed the couple diverted ₦24.1 million to build a private music and photo studio in Abuja.
Regarding the illicit money flow, the charge stated the husband took possession of funds “when he reasonably ought to have known that the sum formed part of the proceeds of an unlawful act.”
While the husband remains on administrative bail, the judge remanded the wife at the Suleja Correctional Centre. The court denied her bail despite her lawyer’s plea that she is currently a nursing mother.
The trial is adjourned until April 27, 2026, for a definite hearing. This case remains part of the EFCC’s aggressive crackdown on large-scale investment scams and financial crimes in the capital.
