EFCC Docks Agrorite Ltd’s CEO, Ayodele Toyosi, Over ‘N600m, $50,000 Scam’

The Economic and Financial Crimes Commission (EFCC) has arraigned a businessman, Ayodele Toyosi, before a Lagos High Court in Ikeja, for allegedly defrauding some people of N600,150,000 and $50,000.

Toyosi was arraigned along with his two companies, Reaprite Global Limited and Agrorite Limited, on 11-count charge.

The defendant, according to the EFCC allegedly defrauded some persons on the pretence that he had an interest-yielding investment in agricultural export.

One of the counts read, “That you, Ayodele Toyosi, Reaprite Global Limited and Agrorite Limited, sometime in June 2023 in Lagos, within the jurisdiction of this Honourable Court, dishonestly converted to your use the aggregate sum of N200,000,000.00 belonging to one K. C. Akoson Investment Limited and Kenneth C. Maduakor by dishonestly representing to them that you will help them transfer the said money to their importers in China whereas you expended the money for your personal use and committed an offence contrary to Sections 278 (1) (b) (f) of the Criminal Law of Lagos State 2011.”

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The businessman denied the allegations and pleaded “not guilty” to the offences.

Based on his plea, the prosecution counsel, G. C Akaogu, urged the court to remand the defendant in the EFCC’s custody for the continuation of the investigations of other petitions pending against him.

But the defendant’s counsel, Olalekan Ojo, prayed the court to remand the defendant to the Ikoyi Correctional facility while he also sought a date for the hearing of the bail application.

After listening to both counsels, Justice Lawal adjourned the matter to August 21, 2024, for the hearing of the bail application and also remanded the defendant in the Ikoyi Correctional facility.

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