Justice Daniel Osiagor of the Federal High Court sitting in Ikoyi, Lagos, has convicted and sentenced Taofeek Daniel Oriola to nine years imprisonment for money laundering.
Oriola was arraigned by the Economic and Financial Crimes Commission, EFCC, Lagos Zonal Directorate 1, on a three-count charge bordering on money laundering and concealment of proceeds of unlawful activities.
The anti-graft agency made this known in a statement shared on its Facebook page on Monday.
The count charge read, “ That you, TAOFEEK DANIEL ORIOLA (Male), adult, sometime in April 2026 in Lagos State, within the jurisdiction of this Honourable Court, engaged in the disguise of the true source of a 2014 Range Rover (Supercharged) with VIN No. SALGS3TF7EA180971, which you knew formed part of the proceeds of your unlawful activity derived from fraudulent cryptocurrency transactions, and you thereby committed an offence contrary to Section 18(2) of the Money Laundering (Prevention and Prohibition) Act, 2022 and punishable under Section 18(3) of the same Act.”
The commission noted that the defendant pleaded guilty to the charges when they were read to him.
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Following his plea, prosecution counsel, H.U. Kofarnaiza, reviewed the facts of the case and tendered several exhibits, which were admitted in evidence by the court.
Delivering judgment, Justice Osiagor found the defendant guilty and sentenced him to three years’ imprisonment on each count, to run concurrently, with an option of a N200,000 fine on each count.
The judge also ordered him to undertake seven days of community service.
The court further ordered the forfeiture of items recovered from him to the Federal Government of Nigeria, including a 2014 Range Rover (Supercharged) with VIN Number SALGS3TF7EA180971; a five-bedroom apartment with boys’ quarters located at Ibeju-Agbe in the Ibeju-Lekki area of Lagos State; a parcel of land measuring 653.479 square metres situated at Ibeju-Agbe in the Ibeju-Lekki area of Lagos State and one iPhone 16.
