A businessman tells an Abuja Federal High Court how he allegedly invested over N500m in a bitter kola export scheme and received neither capital nor returns
N500m Bitter Kola Investment: Businessman Testifies in Abuja Trial
A businessman, Ikechukwu Chikelum, has told the Federal High Court in Abuja how he allegedly lost more than N500 million after investing in a bitter kola and kolanut export scheme linked to the Chief Executive Officer of Onome Global Market Resources Limited and Lexicon Multi-concept Media Limited, Osabohein Alex Ologbose, his wife, Hope Onome Oghelemu, and an alleged accomplice, Alice Alade Ayeni.
Chikelum, who testified as the third prosecution witness, PW3, gave the account on Thursday, September 24, 2026, during the ongoing trial before Justice Ekerete Akpan.
The defendants, their two companies and Ayeni are being prosecuted by the Economic and Financial Crimes Commission, EFCC, on a seven-count charge bordering on obtaining by false pretence, conversion of funds and money laundering involving N740 million.
The charges were brought under Section 18(2)(b) of the Money Laundering (Prevention and Prohibition) Act, 2022, and punishable under Section 18(4) of the same Act.
Led in evidence by prosecution counsel, O.S. Ujam, Chikelum said he became interested in the investment in June 2023 after his friend, Modestus Uche Okafor, introduced him to the alleged export business involving bitter kola and kolanut shipments to China, Hong Kong and Indonesia.
According to the witness, Okafor later took him to Ayeni, whom he met at the Nigerian Export-Import Bank, NEXIM Bank.
Chikelum told the court that Ayeni explained the investment opportunity and presented the profile of Onome Global Market Resources Limited, which he said contained the name and photograph of the company’s Chief Executive Officer, Onome Alex, alongside several certificates.
He said the documents included the company’s Corporate Affairs Commission certificate, the EFCC Special Control Unit Against Money Laundering certificate and an Export Promotion Council certificate.
The witness said the documents gave him confidence that the business was legitimate.
Chikelum said he initially invested N31 million for 100 bags of bitter kola at N310,000 per bag.
He said the money was transferred from his Ecobank account into an account belonging to Ayobola Anike Ventures, which Ayeni provided to him.
According to him, Ayeni later encouraged him to increase his investment, prompting him to transfer another N62 million for 200 bags of bitter kola allegedly intended for export to China.
His investment, he said, subsequently rose sharply, with N267.22 million transferred for 862 bags of bitter kola for export to China and another N220.15 million for 710 bags intended for Hong Kong.
Three days later, Chikelum said he transferred a further N20.4 million for 60 bags of red kolanut intended for export to Indonesia.
He told the court that the latter payment was made into a Guaranty Trust Bank account provided by Ayeni, with Alice as the first name on the account.
The witness said he forwarded receipts for all the transfers to Ayeni through WhatsApp and that she acknowledged receiving them.
Chikelum further testified that his decision to commit more funds was influenced by assurances he received through his friend and Ayeni.
He said he informed Okafor that he still had money available for investment, prompting his friend to contact Ayeni to confirm whether he could invest more.
“I told my friend that I had more money to reinvest. He called Ayeni to inquire if I could further reinvest. Ayeni said that she had called Onome and that she said I could proceed to invest further,” he told the court.
According to the witness, Ayeni subsequently told him that she needed more investors, after which he made the N267.22 million and N220.15 million payments for the alleged bitter kola consignments.
However, Chikelum said the returns he expected never materialised.
He told the court that he waited for about eight weeks without receiving any payment before he and Okafor visited Ayeni’s office to demand an explanation.
He said Ayeni subsequently took them to Onome’s residence, where they were assured that the returns on their investments would be paid within two weeks.
When the promised payment failed to arrive, Chikelum said Onome created a WhatsApp group through which she communicated with investors.
He further testified that a meeting was later held at Living Faith Church, Lokogoma, Abuja, with Onome, her husband Alex, Ayeni, other investors and three pastors of the church in attendance.
According to him, the delay in payment was blamed on the shipment of the bitter kola.
“During the meeting, the third defendant attributed the delay to the shipment of the ‘bitter kola’, claiming that the ship had finally arrived in Hong Kong and appealed to them to wait for another two weeks for the return on their investments,” he said.
Chikelum said another month passed without payment, prompting him and some other investors to seek legal assistance.
He said they engaged a lawyer and submitted evidence of the various transfers made in connection with the investments.
According to him, the lawyer subsequently petitioned the EFCC.
“We gave the senior lawyer evidence of all the transfers made by us. The lawyer sent a petition to the Economic and Financial Crimes Commission, EFCC. The EFCC invited us to come and adopt our petition. That is why we are here,” he told the court.
Chikelum said that despite the amount invested, he had received neither his capital nor any return.
“Till date, I have not received my capital or return from the investment from the defendants,” he said.
During cross-examination by defence counsel, Femi Peter Joseph, the witness confirmed that the total amount he invested through Ayobola Anike Ventures and Alice Alade Ayeni was above N500 million.
Justice Akpan subsequently adjourned the case until November 3, 2026, for continuation of cross-examination.
