A businessman, Ikechukwu Chikelum, has told a Federal High Court in Abuja that he invested more than N500 million in an export business operated by a couple but allegedly received neither his capital nor any returns.
Chikelum, the third prosecution witness in the trial, gave the testimony on Thursday before Justice Ekerete Akpan in a case brought by the Economic and Financial Crimes Commission against Osabohein Alex Ologbose, his wife, Hope Onome Oghelemu, and their two companies.
The defendants — Onome Global Market Resources Limited and Lexicon Multi-concept Media Limited — are facing a seven-count charge involving alleged obtaining by false pretence, conversion of funds and money laundering.
The EFCC said the alleged offences involve about N740 million and are contrary to provisions of the Money Laundering Prevention and Prohibition Act 2022.
While being led in evidence by EFCC counsel, O.S. Ujam, Chikelum said he was introduced to the investment opportunity by his friend, Modestus Uche Okafor, who later took him to Alice Ayeni, a director of Onome Global Market Resources Limited.
He told the court that his interest in the business began in June 2023 after he was informed that the company exported bitter kola to China and Hong Kong.
According to the witness, Ayeni met him at the Nigerian Export-Import Bank, where she explained the investment arrangement and presented documents relating to the company.
Chikelum said the documents included the company’s Corporate Affairs Commission certificate, an EFCC Special Control Unit against Money Laundering certificate and an export promotion certificate.
He said the profile also contained the name and photograph of the company’s chief executive officer, which reinforced his belief that he was dealing with a legitimate business.
The witness said he consequently began with an investment for 100 bags of bitter kola at N310,000 per bag.
He told the court that N31 million was transferred from his Ecobank account to an account belonging to Ayobola Anike Ventures after Ayeni provided the account details.
Chikelum said he later increased his investment after being encouraged by Ayeni, transferring N62 million for another 200 bags.
He further testified that he paid N267.22 million for 862 bags of bitter kola reportedly meant for export to China and N220.15 million for 710 bags intended for Hong Kong.
The businessman added that another N20.4 million was transferred for 60 bags of red kolanut to be exported to Indonesia.
According to him, he sent evidence of the various payments to Ayeni via WhatsApp and received acknowledgements.
However, Chikelum alleged that none of the investments yielded the promised returns and that he was unable to recover his capital.
The defendants are being prosecuted over alleged financial offences involving N740 million. The allegations remain unproven in court, and the defendants are presumed innocent unless found guilty by the court.
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