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 promised returns.
Chikelum, the third prosecution witness, testified on Thursday before Justice Ekerete Akpan in a case filed 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 seven counts bordering on alleged obtaining by false pretence, conversion of funds and money laundering.
The EFCC alleged that the offences involved about N740 million and violated 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 said 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, including its Corporate Affairs Commission certificate, EFCC Special Control Unit Against Money Laundering certificate and an export promotion certificate.
Chikelum said he initially invested N31 million for 100 bags of bitter kola at N310,000 per bag, transferring the money from his Ecobank account to an account provided by Ayeni.
He later increased his investment, paying N62 million for another 200 bags, N267.22 million for 862 bags reportedly intended for China, N220.15 million for 710 bags meant for Hong Kong and N20.4 million for 60 bags of red kolanut reportedly destined for Indonesia.
He told the court that he sent evidence of the 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 allegations have not been proven in court, and the defendants are presumed innocent unless found guilty.