Operatives of the Economic and Financial Crimes Commission (EFCC) have arraigned the Chief Executive Officer of Lexicon Multimedia Limited, Osabohem Alex Ologbosele, alongside his company and a staff member, Augustine Osas Iyoha.
The commission, via its official X account (formerly Twitter), on Thursday detailed the events. The CEO and his staff members were brought before Justice E. Akpan of the Federal High Court sitting in Abuja.
According to the statement, they were arraigned on a six-count charge bordering on “fraud, obtaining under false pretense and money laundering to the tune of N459,050,000 (Four Hundred and Fifty-Nine Million, Fifty Thousand Naira only).”
Before the charges were read, prosecuting counsel O.S. Ujam informed the court of her intention to substitute the original charges, filed on March 7, 2025, with an amended version dated March 10, 2025. The court granted the request and allowed the substitution.
The defendants, however, pleaded not guilty to the charges read to them.
The first count of the charge is as follows: “That you, Osabohien Alex Ologbosele, sometime in the year 2023 and 2024 in Abuja within the jurisdiction of this Honourable court, directly took possession of the total sum of N340,000 (Three Hundred and Forty Million Naira) paid into your account with account number 202277***** domiciled at Kuda Microfinance bank from the account number of Hope Onome Ogholemu with account number 08272****** domiciled in Access Bank when you knew or reasonably ought to have known that the said sum formed part of the proceeds of an unlawful act and you thereby committed an offence contrary to Section 18 (2) (d) of the Money Laundering (Prevention and Prohibition) Act 2022 and Punishable under 18 (3) of the same Act.”
The second charge reads: “That you, Lexicon Multiconcept Media Limited, sometime in the year 2023 and 2024 in Abuja, within the jurisdiction of this Honourable court, directly took possession of the total sum of N16,000,000 (Sixteen Million Naira), paid into your account with account number 63665292**** domiciled in Moniepoint Microfinance Bank, from the account of Osebohien Alex Ologbosele with account number 2022773919 domiciled at Kuda Microfinance bank, when you knew or reasonably ought to have known that the said sum formed part of the proceed of an unlawful act and you thereby committed an offence contrary to Section 18 (2)(d) of the Money Laundering (Prevention and Prohibition) Act 2022, and punishable under Section 18 (4) of the same Act.”
Following the not-guilty plea of the defendants, Ujam asked the court for an adjournment to allow the prosecution prepare its case and present witnesses. The defence counsel, Samuel Ogala, reminded the court that bail applications for the first and second defendants had been filed on March 24, 2025, and for the third defendant on March 27, 2025. He appealed to the court to grant them bail in the interest of fairness.
However, Ujam informed the judge that she had filed a 17-paragraph counter-affidavit on April 2, 2025, in response to the defence’s application. She urged the court to deny bail, arguing that the defendants posed a flight risk. She stated that they had failed to report to the EFCC office for several months and might not return to court if released.
She said, “My lord, the first defendant was arrested in November 2023, and he left in November 2024 and did not report back till February 5, 2025, and I believe that if granted bail, he may not appear for his trial.”
Justice Akpan adjourned the case to May 2, 2025, for “ruling for bail” and ordered that the defendants be remanded in Kuje Prison.
ALSO READ TOP STORIES FROM NIGERIAN TRIBUNE
and then