EFCC arraigns ex-convict Oluokun Gabriel Adekola for allegedly stealing N12 million, converting it to cash, and pleads guilty in Ikeja court

The Economic and Financial Crimes Commission (EFCC) on Monday arraigned ex-convict Oluokun Gabriel Adekola at the Special Offences Court in Ikeja over an alleged N12 million theft.

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According to a statement by the Lagos Zonal Directorate 1 of the EFCC, Adekola and others still at large allegedly conspired in 2025 to conceal and disguise the origin of the funds deposited into his bank account.

The suspect reportedly transferred and converted the money into cash via Point of Sale (POS) agents.

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The EFCC further explained that the stolen N12 million formed part of a larger N3,091,441,849 fraud perpetrated through unauthorised access and fraudulent transactions on a commercial bank’s mobile banking platform.

During the arraignment, Adekola pleaded guilty to the charges presented by the EFCC.