The Economic and Financial Crimes Commission (EFCC) has arraigned Lexicon Multiconcept Media CEO, Osabohem Alex Ologbosele, his company, and one of his employees, Augustine Osas Iyoha.
According to a statement posted on its official handle on Thursday, they appeared before Justice E. Akpan at the Federal High Court in Abuja, facing charges related to fraud and money laundering totaling approximately 459 million Naira.
Before the charges were presented, the prosecution’s lawyer, O.S. Ujam, requested permission from the court to update the charges filed earlier. The court agreed to this change.
The first charge states that Osabohem Alex Ologbosele is accused of unlawfully receiving a large sum of money (340 million Naira) into his bank account, which he should have known came from illegal activities. This is considered an offense under the Money Laundering Act of 2022.
The second charge is directed at Lexicon Multiconcept Media Limited, which is accused of receiving another sum of 16 million Naira from Ologbosele’s account, again knowing it was linked to unlawful actions.
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Both defendants pleaded not guilty to the charges when they were read aloud in court.
Given their not guilty plea, the prosecutor requested a postponement to gather evidence and call witnesses. Meanwhile, the defense attorney, Samuel Ogala, asked the court to grant bail for the defendants, citing a previous application for bail.
However, the prosecutor raised concerns, stating in an affidavit that the defendants are considered flight risks because they had stopped reporting to the EFCC for several months. They argued that if released on bail, the defendants might not attend their trial.
The judge, Justice Akpan, listened to both sides regarding the bail request and decided to postpone the ruling until May 2, 2025, while ordering that the defendants be held in Kuje prison during this time.
