News
Ex-convict sentenced to three years in prison over money laundering
An Ikeja Special Offences Court on Tuesday sentenced Adekola Oluokun, an ex-convict, to three years in prison for laundering N12 million.
Justice Rahman Oshodi convicted and sentenced him on a single count of money laundering filed by the Economic and Financial Crimes Commission (EFCC).
The News Agency of Nigeria (NAN) reports that Oluokun was arraigned on March 16 and pleaded guilty. In delivering judgment, Justice Oshodi noted that the offence constituted money laundering and highlighted that Oluokun was not a first-time offender.
The judge, however, acknowledged the convict’s early guilty plea and willingness to make restitution.
Consequently, the court sentenced Oluokun to three years’ imprisonment and ordered him to restitute N3.5 million to First City Monument Bank (FCMB) within three months.
The judge convicted Oluokun after EFCC counsel, Mr Ebuka Okongwu, reviewed the facts of the case.
While reviewing the facts, Okongwu tendered a Certified True Copy (CTC) of a July 23, 2020 judgment in suit No. FHC/IB/32C/2018.
The document showed that the convict was earlier tried and sentenced in Ibadan.
The CTC was admitted into evidence and marked as Exhibit One.
The prosecution also sought restitution of N3.5 million to the nominal complainant.
The EFCC said Oluokun, with others still at large, in 2025 in Lagos, concealed and converted N12 million paid into his account through Point of Sale (POS) agents.
It said the sum formed part of N3.9 billion reportedly stolen from FCMB accounts through unauthorised access and fraudulent activities on its mobile banking platform.
The anti-graft agency added that the money was withdrawn and converted to cash through POS agents.
Defence counsel, Mr Fabian Nwaforji, made an allocutus and pleaded for leniency.
He said the convict was remorseful and had already served 4 years and 6 months in custody.
He urged the court to temper justice with mercy.
NAN reports that Oluokun was earlier convicted on July 23, 2020, by Justice Joyce Abdulmalik of the Federal High Court, Ibadan, Oyo State.
Abdulmalik had sentenced him to 20 years’ imprisonment for defrauding a Taiwanese national of $22,300.
The conviction followed prosecution by the EFCC Ibadan Zonal Directorate.
The EFCC Ibadan office had prosecuted him on a six-count amended charge, including obtaining money by false pretence.
Follow Us on Google Discover
2027: Tinubu must be stopped, ‘even Buhari saw him as bad news’ — Hakeem Baba-Ahmed
APC sweeps all 21 chairmanship seats, 239 Councillorship positions in Kogi LG poll
‘₦29,000 Cannot sustain a retired officer’ — Atiku challenges Tinubu on police pensions, proposes initiative
FG ends 17-year blackout in Gombe community with 1MW solar mini-grid
EPL: Leeds hold Man Utd to 1-1 draw as pressure mounts on Carrick
DSS arrests of NYSC kidnappers, Faisal Maina: Why intelligence must take centre stage: by Olufemi Lawson
SSANU halts two-week strike ultimatum after FG’s intervention
Catholic priest dies after Jesus’ statue falls on him during mass in Ecuador (video)
2027: NDC will never step down for Atiku, stop attacking us – Kwankwaso replies ADC Campaign Council
I fear APC’s internal crisis more than Atiku – Shettima
Why Shettima Insults Atiku: by Farooq Kperogi
Messi’s double fires Inter Miami to 3-1 victory over Atlanta United
Opposition will front a single candidate against Tinubu, announcement will be made few days to election – Lukman
La Liga: Unstoppable Barcelona beat Real Betis 5-2 to extend winning run
EPL: Super Eagles star Iwobi fires Fulham to first league victory
2027: Step down if you are not working for Tinubu – Deji Adeyanju dares Obi, Kwankwaso
2027: Kwankwaso a goat in sheep’s clothing, secretly working for Tinubu – Atiku Campaign Council
Security forces arrest five suspects over abduction of 20 NYSC members in Imo
33 Governors cannot be wrong in supporting Tinubu – Bayo Onanuga
Opposition will front a single candidate against Tinubu, announcement will be made few days to election – Lukman
2027: ‘I wont join my Uncle to support Tinubu’ – Davido says
DSS arrests Maina’s fugitive son in Abuja, hands him over to EFCC
Veteran Journalist, diplomat Dele Cole dies at 86
Tension as traditional ruler collapses, dies in Ondo
Gunmen kill four vigilantes in Plateau community
Ogun hospital under fire as Nurse dies of asthma attack amid alleged oxygen failure
Suspended NSCDC commandant apologises over deaths of suspected illegal miners in Niger
2027: NDC will never step down for Atiku, stop attacking us – Kwankwaso replies ADC Campaign Council
2027: ‘APM will beat Tinubu in 12 battleground states’ – Makinde’s campaign team
