Economic and Financial Crimes Commission (EFCC) has arraigned an ex-convict, Oluokun Gabriel Adekola, before the Lagos State Special Offences Court sitting in Ikeja over an alleged N12 million theft.
Adekola was arraigned before Justice Rahman Oshodi on an amended charge bordering on stealing to the tune of N12 million.
EFCC alleged the defendant and others still at large colluded in 2025 to conceal and disguise the true origin of N12 million paid into his bank account.
The anti- graft agency also alleged that Adekola transferred and converted the funds to cash through Point of Sale (POS) agents to obscure the source of the money.
It further stated that the N12 million forms part of a larger sum of N3,091,441,849 reportedly stolen from accounts domiciled in a new generation bank through unauthorised access and fraudulent activities carried out on the bank’s mobile banking applications.
When the charge was read to him in court, the defendant pleaded guilty.
Following his plea, prosecution counsel, M. K. Bashir and E. S. Okongwu, asked the court to fix a date for the review of the facts of the case and sentencing.
The prosecution also urged the court to remand the defendant in a correctional facility pending the next adjourned date.
Justice Oshodi subsequently adjourned till March 17, 2026, for the review of facts and sentencing.
Adekola was previously convicted on July 23, 2020, by Justice Joyce Abdulmalik of the Federal High Court in Ibadan, Oyo State. He was jailed 20 years for defrauding a Taiwanese national of $22,300, following his prosecution by the Ibadan Zonal Directorate of the EFCC on a six-count amended charge of obtaining money by false pretence.
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