Ex-convict arraigned over alleged ₦12m theft in lagos
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, before Justice Rahman Oshodi of the Special Offences Court sitting in Ikeja, Lagos, over an alleged ₦12 million theft.
Adekola was docked on a one-count amended charge bordering on stealing. The charge stated that in 2025, he allegedly collaborated with others still at large to conceal the origin of ₦12,000,000 paid into his account by withdrawing and converting the funds to cash through Point of Sale (POS) agents. The money was said to be part of ₦3,091,441,849 fraudulently siphoned from accounts domiciled with FCMB through unauthorized mobile banking transactions.
He pleaded guilty when the charge was read to him. Following the plea, prosecution counsel M. K. Bashir and E. S. Okongwu requested a date for review of facts and sentencing, and asked that the defendant be remanded in custody.
Justice Oshodi adjourned the matter until March 17, 2026, for review of facts and sentencing, and ordered that Adekola be remanded in a correctional centre.
The EFCC noted that Adekola had previously been convicted on July 23, 2020, by the Federal High Court in Ibadan and sentenced to 20 years’ imprisonment for defrauding a Taiwanese victim of $22,300.
