Man Loses N500m to Bitter Kola Export Scam

​ABUJA — The trial of Osabohein Alex Ologbose, his wife Hope Onome Oghelemu, and an accomplice, Alice Ayeni, took a dramatic turn on Thursday before Justice Ekerete Akpan of the Federal High Court, Abuja. The third prosecution witness (PW3), Ikechukwu Chikelum, narrated how he was swindled out of over N500 million under the guise of a lucrative agricultural export business.

​The defendants, alongside their corporate entities—Onome Global Market Resources Limited and Lexicon Multi-concept Media Limited—face a seven-count charge filed by the Economic and Financial Crimes Commission (EFCC). The charges center on obtaining money by false pretenses, fund conversion, and money laundering totaling N740 million, in violation of the Money Laundering Prevention and Prohibition Act 2022.

​Testifying before the court, Chikelum explained that his ordeal began in June 2023 after a friend, Modestus Uche Okafor, introduced him to the investment scheme. The venture supposedly involved exporting “bitter kola” and red kolanuts to China, Hong Kong, and Indonesia.

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​Driven by confidence inspired by corporate credentials—including Corporate Affairs Commission (CAC) papers, an EFCC Special Control Unit against Money Laundering (SCUML) certificate, and export promotion documents shown to him by Ayeni at NEXIM Bank—the businessman committed massive funds.

​According to the witness, his initial outlay began with a transfer of N31 million for 100 bags of bitter kola, paid into an account belonging to Ayobola Anike Ventures. Emboldened by digital acknowledgment receipts and steady reassurances, Chikelum continued to pour millions into the enterprise:

• ​N62 million for an additional 200 bags destined for China.
• ​N267,220,000 for 862 bags bound for China.
• ​N220,150,000 for 710 bags marked for Hong Kong.
• ​N20,400,000 for 60 bags of red kolanuts intended for Indonesia.

​In total, Chikelum’s investments surpassed the N500 million mark. However, after waiting eight weeks without receiving his capital or any return on investment, alarm bells rang.

​Visits to Ayeni and subsequent meetings with the principal defendants—including a session brokered by pastors at the Living Faith Church in Lokogoma, Abuja—yielded only excuses. The defendants repeatedly blamed shipping delays and pleaded for extensions that never materialized.

​Frustrated by the empty promises, Chikelum and fellow aggrieved investors engaged legal counsel and petitioned the EFCC, triggering the ongoing prosecution.

​Under cross-examination by defense counsel Femi Peter Joseph, the witness maintained that his capital remains trapped with the defendants. Justice Akpan has adjourned the matter to November 3, 2026, for the continuation of cross-examination.