Justice E. Akpan of the Federal Excessive Court docket sitting in Abuja has remanded the Chief Government Officer (CEO) of Lexicon Multiconcept Media Restricted, Osabohem Alex Ologbosele, in Kuje Correctional Facility over an alleged N59 million fraud. He was arraigned earlier than the court docket alongside his firm and certainly one of his employees, Augustine Osas Iyoha, by the Financial and Monetary Crimes Fee (EFCC).
They had been arraigned on six amended counts bordering on fraud, acquiring below false pretence, and cash laundering to the tune of about N459 million. Earlier than the fees had been learn, the prosecuting counsel, O.S. Ujam, knowledgeable the court docket of her intention to substitute the preliminary costs filed on March 7, 2025, with the amended costs filed on March 10, 2025. The court docket granted her request.
Rely one of many cost reads: “That you simply, Osabohien Alex Ologbosele, someday in 2023 and 2024 in Abuja, throughout the jurisdiction of this Honourable Court docket, immediately took possession of the full sum of N340 million paid into your account domiciled at Kuda Microfinance Financial institution from the account of Hope Onome Ogholemu domiciled in Entry Financial institution, if you knew or fairly must have recognized that the stated sum fashioned a part of the proceeds of an illegal act, and also you thereby dedicated an offence opposite to Part 18 (2)(d) of the Cash Laundering (Prevention and Prohibition) Act, 2022, and punishable below Part 18 (3) of the identical Act.”
Rely two reads: “That you simply, Lexicon Multiconcept Media Restricted, someday in 2023 and 2024 in Abuja, throughout the jurisdiction of this Honourable Court docket, immediately took possession of the full sum of N16 million paid into your account with Moniepoint Microfinance Financial institution, from the account of Osabohien Alex Ologbosele domiciled at Kuda Microfinance Financial institution, if you knew or fairly must have recognized that the stated sum fashioned a part of the proceeds of an illegal act, and also you thereby dedicated an offence opposite to Part 18 (2)(d) of the Cash Laundering (Prevention and Prohibition) Act, 2022, and punishable below Part 18 (4) of the identical Act.”
The defendants pleaded not responsible to the fees. Following their plea, Ujam requested the court docket for an adjournment to allow the prosecution to open its case and name witnesses.
Nonetheless, defence counsel Samuel Ogala knowledgeable the court docket of a bail software for the primary and second defendants filed on March 24, 2025, and one other for the third defendant dated March 27, 2025, urging the court docket to grant bail on liberal phrases within the curiosity of justice.
In response, Ujam famous a 17-paragraph affidavit filed on April 2, 2025, opposing the bail functions, arguing that the defendants had been flight dangers who had did not report back to the EFCC for months and won’t seem for trial if granted bail.
Justice Akpan, after listening to arguments from either side, adjourned the matter to Could 2 for ruling on the bail software and ordered the remand of the defendants in Kuje Correctional Facility.
