Mr. Ayodele Toyosi, along with his companies Reaprite Global Limited and Agrorite Limited, has been charged with alleged investment fraud in Lagos. Mr. Toyosi was charged with obtaining by false pretense and stealing N600,150,000.00 and $50,000.00, respectively. The investigation revealed that Toyosi defrauded several individuals on the pretense of having an interest-yielding investment in agricultural export.
One count stated that Toyosi dishonestly converted N200,000,000.00 belonging to K.C. Akoson Investment Limited and Kenneth C. Maduakor to his own use despite falsely claiming to help them transfer the money to their importers in China. Instead, he used the money to purchase a property in Eti Osa Local Government Area of Lagos State.
Toyosi pleaded “not guilty” to the offense. The prosecution counsel, G.C. Akaogu, requested that Toyosi be remanded in EFCC custody for further investigations.
The defense counsel, Olalekan Ojo, SAN, argued that Toyosi should be remanded to the Ikoyi Correctional Facility and sought a date for the bail application hearing.
Justice A.M. Lawal adjourned the matter until August 21, 2024, for the bail application hearing and remanded Toyosi to the Ikoyi Correctional Facility.
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