Lagos Court Hands Down 76-Year Sentence for Fraud, Money Laundering, and Child Exploitation

 

A Lagos State High Court has delivered one of Nigeria's harshest white-collar crime sentences in recent memory, convicting 34-year-old businessman Adebayo Owolabi on multiple counts of fraud, money laundering, and child pornography. Justice Adewale Oshodi imposed the staggering 76-year prison term after a two-year trial that exposed an elaborate criminal network.  

The Economic and Financial Crimes Commission (EFCC) presented overwhelming evidence showing Owolabi operated a sophisticated syndicate that:  

- Defrauded foreign investors through fake cryptocurrency schemes ($2.3 million stolen)  

- Laundered proceeds through shell companies and luxury car purchases  

- Distributed exploitative content featuring minors on dark web platforms  

"This case represents the worst intersection of financial crimes and human exploitation," stated EFCC prosecutor Rotimi Jacobs, SAN. Forensic analysis traced payments from international child exploitation rings to Owolabi's offshore accounts.  

Justice Oshodi's landmark ruling breaks down as:  

- **25 years** for advance-fee fraud (Section 419 of Criminal Code)  

- **21 years** for money laundering (Money Laundering Act 2022)  

- **30 years** for child pornography (Cybercrimes Act 2015)  

Though the sentences run consecutively, Nigerian law caps prison time at 35 years. Owolabi will also forfeit 17 properties, 6 luxury vehicles, and $1.8 million in frozen assets.  

The conviction marks a major victory for Nigeria's anti-corruption efforts amid growing international pressure to combat cyber-enabled crimes. INTERPOL had flagged Owolabi's operations after investigations in three continents.