The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission, EFCC, Ikoyi, on Monday, March 16, 2026, arraigned an ex-convict, Oluokun Gabriel Adekola, for an alleged 12m theft before Justice Rahman Oshodi of the Special Offences Court sitting in Ikeja, Lagos.
Securitynewsalert.com heard that Adekola was arraigned on a one-count amended charge bordering on stealing to the tune of N12,000,000 (Twelve Million Naira).
The lone count charge reads: “That you, OLUOKUN GABRIEL ADEKOLA, and other persons at large, sometime in 2025 in Lagos within the jurisdiction of this Honourable court, collaborated with others to conceal and disguise the genuine origin of N12,000,000 paid into your account by transferring and converting same to cash through Point of Sale (POS) agents, money which forms part of N3,091,441,849 stolen from accounts domiciled with FCMB through unauthorized access and fraudulent activities on their mobile banking applications.”
He pleaded “guilty” to the charge when it was read to him.
Following his plea, prosecution counsel, M. K. Bashir and E. S. Okongwu, asked the court for a date to review the facts of the case and sentence.
The prosecution also prayed that the defendant be remanded in a Correctional centre.
Justice Oshodi adjourned the matter till March 17, 2026, for the review of facts and sentence, and also ordered that the defendant be remanded in a correctional centre.
Adekola had earlier been convicted on July 23, 2020, by Justice Joyce Abdulmalik of the Federal High Court, Ibadan, Oyo State, and sentenced to 20 years’ imprisonment for defrauding a Taiwanese 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.
