- Court Sentences Ex-Convict to 3 Years for N12m Fraud
- The convict collaborated with others still at large in 2025 to hide the origin of funds paid into his bank account
- Records presented by the EFCC showed he had previously been convicted in 2020 by Justice Joyce Abdulmalik of the Federal High Court in Ibadan for defrauding a Taiwanese national of $22,300
Justice Rahman Oshodi of the Special Offences Court in Ikeja has sentenced an ex-convict, Oluokun Gabriel Adekola, to three years in prison for his involvement in concealing N12 million linked to fraud.
Eko Hot Blog gathered that Adekola was convicted after pleading guilty to an amended charge of stealing filed by the Economic and Financial Crimes Commission.
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According to the EFCC, the convict collaborated with others still at large in 2025 to hide the origin of funds paid into his bank account.
Investigations revealed that the N12 million formed part of over N3.09 billion allegedly siphoned from First City Monument Bank through unauthorised access and mobile banking fraud.
The stolen funds were reportedly converted to cash using Point of Sale (POS) agents.
The court also noted that Adekola is a repeat offender. Records presented by the EFCC showed he had previously been convicted in 2020 by Justice Joyce Abdulmalik of the Federal High Court in Ibadan for defrauding a Taiwanese national of $22,300, for which he was sentenced to 20 years imprisonment.
While delivering judgment, Justice Oshodi considered the defendant’s guilty plea and willingness to make restitution but stressed the seriousness of the offence.
The court sentenced him to three years imprisonment and ordered him to repay N3.5 million to the bank within three months.
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