EFCC Arraigns Ex-Convict Over N12 Million Theft in Lagos Court
The Economic and Financial Crimes Commission (EFCC) has arraigned an ex-convict, Oluokun Gabriel Adekola, before the Lagos State Special Offences Court in Ikeja. He faces charges related to an alleged theft of N12 million, with the case highlighting ongoing efforts to combat financial crimes in Nigeria.
Details of the Charges and Court Proceedings
Adekola was brought before Justice Rahman Oshodi on an amended charge that centers on stealing N12 million. The EFCC alleges that in 2025, the defendant collaborated with others who are still at large to conceal and disguise the origin of N12 million deposited into his bank account. According to the anti-graft agency, Adekola transferred and converted these funds to cash through Point of Sale (POS) agents in an attempt to obscure the money's source.
This N12 million is reported to be part of a larger sum of N3,091,441,849, which was allegedly stolen from accounts held at a new generation bank. The theft occurred through unauthorized access and fraudulent activities conducted on the bank's mobile banking applications, underscoring vulnerabilities in digital financial systems.
Guilty Plea and Legal Proceedings
When the charge was read in court, Adekola pleaded guilty. Following his plea, the prosecution counsel, M. K. Bashir and E. S. Okongwu, requested the court to schedule a date for reviewing the facts of the case and for sentencing. They also urged the court to remand the defendant in a correctional facility until the next adjourned date.
Justice Oshodi subsequently adjourned the case to March 17, 2026, for the review of facts and sentencing. This adjournment allows for a thorough examination of the evidence before final judgment is delivered.
Background of the Defendant
Adekola has a prior criminal record, having been convicted on July 23, 2020, by Justice Joyce Abdulmalik of the Federal High Court in Ibadan, Oyo State. In that case, he was prosecuted by the Ibadan Zonal Directorate of the EFCC on a six-count amended charge of obtaining money by false pretence. He was sentenced to 20 years in prison for defrauding a Taiwanese national of $22,300, demonstrating a pattern of involvement in financial crimes.
The current case adds to his legal troubles, with the EFCC continuing its crackdown on corruption and fraud in Nigeria's financial sector.
