Agrorite CEO Toyosi in the dock over alleged N600m, $50,000 scam
By Jude-Ken Ojinnaka
The Chief Executive Officer (CEO) of Agrorite Limited and Reaprite Global Limited, Ayodele Toyosi, was on Monday arraigned by the Economic and Financial Crimes Commission (EFCC), before an Ikeja High Court over alleged investment scam.
Toyosi was arraigned alongside his two companies, Agrorite Limited, and Reaprite Global Limited before Justice M. A. Lawal, on 11-count charge of obtaining by false pretense and stealing to the tune of N600,150,000 million and $50,000 USD.
According to the charge preferred against the defendant by EFCC, he was alleged to have defrauded some persons on the pretence that he had an interest-yielding investment in agricultural export.
After listening to the charge preferred against him, the defendant pleaded not guilty to all the counts
In view of 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, while seeking a date for the hearing of the bail application, asked the court to remand the defendant in the Ikoyi Correctional facility pending hearing of 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 ordered the remand of the defendant in the Ikoyi Correctional facility.
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,” among others.
 of Agrorite Limited and Reaprite Global Limited, Ayodele Toyosi was on Monday arraigned){kind=link}