Lagos Court Sentences Ex-Convict to Three Years for N12 Million Theft
Justice Rahman Oshodi of the Special Offences Court in Ikeja, Lagos, has handed down a three-year prison sentence to Oluokun Gabriel Adekola, an ex-convict, for his involvement in concealing N12 million. The judgment was delivered after Adekola pleaded guilty to an amended charge of stealing brought by the Economic and Financial Crimes Commission (EFCC).
Details of the Crime and Prosecution
The EFCC arraigned Adekola on March 16, 2026, accusing him and others still at large of collaborating in 2025 to conceal and disguise the origin of N12,000,000 deposited into his bank account. According to the anti-graft agency, this money was part of a larger sum of N3,091,441,849 allegedly obtained from First City Monument Bank (FCMB) accounts through unauthorized access and mobile banking fraud. The funds were subsequently converted to cash using Point of Sale (POS) agents.
During the court proceedings, the EFCC presented records showing that Adekola had a prior conviction. On July 23, 2020, Justice Joyce Abdulmalik of the Federal High Court in Ibadan, Oyo State, sentenced him to 20 years for defrauding a Taiwanese national of $22,300. In the recent case, EFCC counsel Ebuka Okongwu tendered a Certified True Copy (CTC) of the 2020 judgment, which was admitted as Exhibit 1, and requested restitution of N3.5 million to the nominal complainant.
Defense and Sentencing
Adekola's counsel, Fabian Nwaforji, appealed for leniency, citing his client's remorse and noting that he had already spent four years and six months in custody. However, Justice Oshodi ruled that the offence constituted money laundering and highlighted Adekola's status as a repeat offender. The judge considered the early guilty plea and Adekola's willingness to make restitution, ultimately sentencing him to three years in prison.
The court also ordered Adekola to restitute N3.5 million to FCMB within three months. He was arraigned by the Lagos Zonal Directorate 1 of the EFCC in Ikoyi on Monday, March 16, 2026, and pleaded guilty to the charge. Following his plea, prosecution counsel M. K. Bashir and Okongwu requested a date for reviewing the case facts and sentencing, as well as his remand in a correctional centre. Justice Oshodi adjourned the case for these purposes and ordered the remand.
