Oyedotun, 19, was prosecuted on a count charge.
The trial judge, Justice Muhammed Sani, found him guilty of the charge and sentenced the accused to two years in prison, with an option of a fine of N300,000.
Upon arraignment, Oyedotun pleaded guilty to the charge.
Following his plea, counsel to the EFCC, Sesan Ola, reviewed the facts of the case and tendered the extrajudicial statements of the defendant.
The prosecutor told the court that the investigation conducted revealed that Oyedotun had in his possession over N21 million, suspected to be proceeds of unlawful activities.
Also, the defendant had a Toyota Camry car, which he purchased using his mother’s name.
An iPhone 12 Promax, key, and particulars of the Toyota Camry car were recovered from the convict, and a draft of N350,000 was admitted in evidence.
The counsel prayed the court to take judicial notice of the unchallenged evidence placed before it, as well as the provisions of the law to convict the defendant as charged.