A prosecution witness has told the Federal High Court in Abuja how she allegedly lost N58.1 million in an investment scheme linked to a bitter kola export business promoted by a couple currently facing trial over an alleged N740 million fraud.
The witness, Chinyere Okoroafor, testified before Justice Ekerete Akpan on Monday during the trial of Osabohein Alex Ologbose, Chief Executive Officer of Onome Global Market Resources Limited and Lexicon Multi-concept Media Limited, and his wife, Hope Onome Oghelemu.
The defendants and their companies are being prosecuted by the Economic and Financial Crimes Commission (EFCC) on a seven-count charge bordering on obtaining by false pretence, conversion of funds and money laundering involving N740 million.
According to the EFCC, the alleged offences contravene provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.
The court heard that Okoroafor, a civil servant, was introduced to the investment opportunity by Alice Ayeni Alade, whom she identified as a staff member of the Nigerian Export-Import Bank (NEXIM Bank).
She said Alade presented the venture as a profitable bitter kola export business supplying markets in China, Hong Kong and Indonesia, where the produce was allegedly used for pharmaceutical purposes.
Okoroafor told the court that she trusted the proposal because it was linked to export activities and was introduced by someone working in the banking sector.
According to her, investors were promised returns after an eight-week cycle, with two weeks allocated for sourcing bitter kola, four weeks for shipment and two weeks for processing payments from foreign partners.
She said she invested a total of N58.1 million, which was paid into Alade’s Guaranty Trust Bank account.
However, when the investment matured, she said the expected returns never arrived.
Okoroafor testified that Alade later informed her that she had not received payments from the defendants. She said the defendants subsequently offered several explanations for the delays, including flooding in China, fire outbreaks in Hong Kong and freight-related challenges.
The witness further told the court that the defendants repeatedly appealed for patience through a WhatsApp group and at meetings involving investors.
She recalled attending a meeting organised by pastors at Living Faith Church, Sunny-Ville Estate, Abuja, where the third defendant allegedly knelt down and assured investors that payments would be made within two weeks.
Okoroafor said she later discovered there was allegedly no genuine investment operation and that the defendants had no dealings with the foreign companies they had referenced.
She also told the court that Alade confirmed receiving the N58.1 million and provided evidence showing the funds were transferred to the defendants. According to her, Alade had earlier presented Corporate Affairs Commission documents and company profiles relating to Onome Global Market Resources Limited.
The witness said she eventually petitioned the EFCC after months of unsuccessful attempts to recover either her investment returns or principal.
“Till date, I have not received any return on investment from the defendants. I have not even had any communication with the defendants. I have not equally received the principal sum that I invested,” she told the court.
Earlier, defence counsel Peter Femi Joseph sought an adjournment, arguing that his legal team had only recently taken over the case and had yet to receive all relevant documents from previous counsel.
The prosecution, led by O.S. Ujam, opposed the request and urged the court to proceed.
Justice Akpan rejected the application for adjournment and allowed the trial to continue.
The case was adjourned until July 1, 2026, for cross-examination.
