The Economic and Financial Crimes Commission (EFCC), on Monday, arraigned ex-convict Adekola Oluokun for allegedly laundering N12 million.

Mr Oluokun was arraigned on a one-count amended charge of money laundering, contrary to Section 330 of the Criminal Laws of Lagos State, 2011.

He pleaded guilty to the charge when it was read to him.

Following his plea, EFCC counsel Muhammed Bashir asked the court for a date to review the facts of the case and sentencing.

The prosecution also prayed that the defendant be remanded in a correctional centre.

EFCC alleged that the defendant, with others still at large, sometime in 2025 in Lagos, concealed and converted N12 million paid into his account through Point of Sale (POS) agents.

The commission said the sum formed part of N3.9 billion reportedly stolen from accounts in a new-generation bank through unauthorised access and fraudulent activities on its mobile banking platform.

Justice Rahman Oshodi adjourned the case until March 17 for the review of facts and sentencing.

Mr Oshodi also ordered that the defendant be remanded in a correctional centre.

Mr Oluokun was earlier convicted on July 23, 2020, by Justice Joyce Abdulmalik of the Federal High Court, Ibadan, Oyo State.

Mr Abdulmalik sentenced him to 20 years’ imprisonment for defrauding a Taiwanese national of $22,300, following prosecution by the EFCC Ibadan Zonal Directorate.

The EFCC Ibadan office had prosecuted him on a six-count amended charge, which included obtaining money by false pretence. 

(NAN)