The Economic and Financial Crimes Commission (EFCC) brought serial fraudster Oluokun Gabriel Adekola back to court on Monday, March 16, 2026, charging him with stealing N12 million linked to a massive bank scam. Lagos Zonal Directorate 1 prosecutors presented the case before Justice Rahman Oshodi at the Special Offences Court in Ikeja, where Adekola quickly entered a guilty plea.
Court Charge Details
The amended one-count charge accuses Adekola and unnamed accomplices of disguising the origins of N12 million deposited into his account sometime in 2025. EFCC alleges the funds stemmed from N3,091,441,849 illegally siphoned from First City Monument Bank (FCMB) accounts via unauthorized mobile app access and fraud, then cashed out through POS agents in Lagos. This offence violates stealing laws under the jurisdiction, marking a clear pattern in his cybercrime involvement.
Prosecutors M.K. Bashir and E.S. Okongwu sought time to present facts for sentencing and requested remand in a correctional centre. Justice Oshodi granted the plea, ordering Adekola held pending today’s hearing on March 17, 2026, for fact review and possible punishment. The swift guilty plea could accelerate closure in this branch of the larger FCMB heist.
Adekola, no stranger to EFCC cells, served a 20-year sentence handed down on July 23, 2020, by Justice Joyce Abdulmalik at the Federal High Court in Ibadan. That case involved a six-count charge of obtaining $22,300 by false pretences from a Taiwanese victim, prosecuted by EFCC’s Ibadan team. His release and quick return to alleged fraud highlight ongoing challenges in rehabilitating digital criminals in Nigeria.
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