The Special Offences Court sitting in Ikeja Lagos has revoked the bail of Ayodele Toyosi, the Chief Promoter of Reaprite Global Limited and Agrorite Limited, for forged medical reports.
Toyosi, along with his two companies, is facing an 11-count charge bordering on obtaining money under false pretence and theft to the tune of N600 million and $50,000. The Economic and Financial Crimes Commission (EFCC) alleges that he defrauded several investors under the guise of operating a profit-yielding agro-export business.
One of the charges states that in June 2023, Toyosi dishonestly converted N200 million belonging to K.C. Akoson Investment Limited and one Kenneth C. Maduakor under the pretext of helping them transfer funds to their importers in China. Instead, the funds were allegedly diverted for personal use.
Another count accuses him of fraudulently obtaining N300 million from the same victims and using the money to purchase a property at Plot 17, Pinnock Beach Estate, in Eti Osa local government area of Lagos.
These offences contravene the Advance Fee Fraud and Other Fraud Related Offences Act of 2006 and the Criminal Law of Lagos state.
Toyosi has pleaded not guilty to all charges.
Justice Abike-Fadipe issued a bench warrant for his arrest after he failed to appear in court on May 21, 2025.
The court also ordered the EFCC to verify the authenticity of the medical reports submitted by Toyosi’s former counsel, Chukwuemeka Maduagwu, to justify his absence.
