The court also ruled that he forfeits all his properties and cash in various banks as proceeds of crime.
The journey to prison started for Ademola when he was arraigned alongside six former officials of the CBN and fifteen others from different Commercial banks in an alleged case of conspiracy and money laundering.
The bankers allegedly conspire to steal and conceal mutilated and defaced local currency amounting to eight billion naira (N8bn) from the Central Bank of Nigeria.
Ademola, who was the 4th defendant in the matter, however, entered into a plea bargain with the prosecution, and pleaded guilty to an amended charge.
At the resumed hearing Thursday 6th, October, the prosecuting counsel, Adeniyi Adebisi presented the perfected agreement and an amended charge to the court against him. Ademola pleaded guilty to 5 of the 24- count amended charge.
Justice Abudmalik convicted him and sentenced him to two and half years on each of the five counts. The sentences are to run concurrently
One of the Count reads that you Oni Ademola Dolapo between 2010 and May 2011 in Ibadan, within the jurisdiction of this Honourable Court did collaborate with Kolawole Babalola, Olaniran Muniru Adeola, Toogun Kayode Philip, Afolabi Esther Olunike, Ademola Ebenezer Adewale and Omotosho Abimbola to conceal the genuine nature of an aggregate sum of N1, 391,280,190.00(One billion, three hundred and ninety one million, Two hundred and eighty thousand, one hundred and ninety naira) which sum was illegally derived from the Central Bank of Nigeria, to wit: by inducing the Central Bank of Nigeria to deliver the said sum to Wema Bank Plc as against the actual sum of N338, 719, 810. 00 (Three hundred and Twenty eight million, seven hundred and nineteen thousand, eight hundred and ten naira) and thereby committed an offence punishable under section 14 (1) (b) of the Money Laundering (Prohibition) Act, 2004.
The trial of the other defendants in the charge continues