Justice Rahman Oshodi of the Special Offences Court, Ikeja, Lagos, on Monday remanded Oluokun Gabriel Adekola in a Medium Correctional Centre over an alleged N12,000,000 money laundering charge.
The judge ordered the remand of Oluokun Gabriel Adekola, an ex-convict, after he was arraigned by the Economic and Financial Crimes Commission, EFCC, on a one-count amended charge bordering on money laundering, an offence contrary to Section 330 of Criminal Laws of Lagos state, 2011.
The court adjourned the matter till March 17, 2026, for review of facts and sentencing after he pleaded guilty to the charge.
At the resumed proceedings, prosecution counsel, E. S. Okondu, informed the court that the EFCC had filed an amended charge against him.
According to the charge, Oluokun Gabriel Adekola and others still at large allegedly collaborated in 2025 in Lagos to conceal and disguise the origin of N12,000,000 fraud proceeds.
The prosecution alleged that the money was paid into the defendant’s account and subsequently transferred and converted to cash through Point of Sale, POS, agents.
The EFCC further told the court that the N12,000,000 fraud sum formed part of N3,091,441,849 reportedly stolen from accounts domiciled with First City Monument Bank, FCMB, through unauthorised access and fraudulent activities carried out on the bank’s mobile banking applications.
When the amended charge was read to him, Oluokun pleaded guilty.
Following the plea, prosecution counsel, Okondu, urged the court to fix a date for review of facts and sentencing in the N12,000,000 fraud case.
The prosecution also prayed the court to remand him in a correctional facility pending the next hearing.
Justice Oshodi subsequently adjourned the case till March 17, 2026, for review of facts and sentencing.
The judge also ordered his remand in a Medium Correctional Centre over the N12,000,000 fraud charge.
Court records further revealed that Oluokun Gabriel Adekola had previously been convicted on July 23, 2020, by Justice Joyce Abdulmalik of the Federal High Court, Ibadan, Oyo State.
He was sentenced to 20 years’ imprisonment for defrauding a Taiwanese national of $22,300 after prosecution by the Ibadan Zonal Directorate of the EFCC on a six-count amended charge of obtaining money by false pretence.
