Justice Olubunmi Abike-Fadipe of the Lagos Special Offences Court, Ikeja has revoked the bail granted to Ayodele Toyosi, and his legal counsel, Chukwuemeka Maduagwu for presenting forged medical reports to the court in an attempt to frustrate trial proceedings.
The defendants; Ayodele Toyosi, promoter of Reaprite Global Limited and Agrorite Limited are standing trial over alleged fraud in the sum of over ₦600 million.
The Economic and Financial Crimes Commission, EFCC, is prosecuting Ayodele Toyosi, promoter of Reaprite Global Limited and Agrorite Limited.
Toyosi is facing an 11-count charge alongside his two companies; Reaprite Global Limited and Agrorite Limited.
The charges border on obtaining money under false pretence and stealing, involving over ₦600 million and $50,000.
At the commencement of trial, the defendants had already been arraigned on an 11-count charge bordering on obtaining money by false pretence, contrary to Section 1(1)(a) and punishable under Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
Count One of the charge reads:“Ayodele Toyosi, Reaprite Global Limited and Agrorite Limited, sometime on 7th July, 2023, in Lagos, within the Ikeja Judicial Division, by false pretence and with intent to defraud, obtained the sum of N20,000,000.00 (Twenty Million Naira Only) belonging to James O. Emadoye on the false representation that the money was meant for an interest-yielding investment in agricultural export at the interest rate of 21% return on investment for a period of 6 months, whereas the money was expended for your personal use.”
Count Two reads: “Ayodele Toyosi, Reaprite Global Limited and Agrorite Limited, sometime on 13th July, 2023, in Lagos, within the Ikeja Judicial Division, by false pretence and with intent to defraud, obtained the sum of $50,000.00 (Fifty Thousand United States Dollars Only) belonging to James O. Emadoye on the false representation that the money was meant for a savings plan investment at the interest rate of 10% return on investment per annum, whereas the money was expended for your personal use.”
He pleaded “not guilty” to the offence.
According to the EFCC, the defendant lured several investors into parting with funds under the pretext of investing in agricultural export schemes with guaranteed high returns, many of the investors have since come forward, alleging that they were deceived and defrauded.
At the last adjourned date, the matter could not proceed due to defendant’s absence.
At today’s proceeding, Deborah Ademu-Eteh, informed the court that an investigation into the purported medical excuse submitted on behalf of the defendant revealed inconsistencies and falsehoods.
Thereafter, Justice Abike-Fadipe on May 21, 2025 had issued a bench warrant for failing to appear in court on two scheduled dates for his trial where a chartered accountant, Mr. James Emadoye, is still on oath to continue his testimony.
In addition, the judge also ordered the EFCC to investigate the medical reports tendered in his absence by his counsel, Chukwuemeka Maduagwu.
However, the defendant has failed to appear in court on two scheduled dates for his trial.
EFCC says medical reports not genuine
The Counsel to EFCC, Ademu-Eteh, during the sitting informed the court that the agency’s investigation into the purported medical reports submitted on behalf of the defendant were not genuine, adding that they were filled with inconsistencies.
Ademu-Eteh also stated that there was no referral either from the University College Hospital, UCH Ibadan, Oyo State or Reddington Hospital in Lagos, contrary to the claims in the medical reports.
According to the prosecution counsel, “There was no record of any surgical appointment scheduled for the defendant at the said hospital.”
“There was no referral letter from Reddington Hospital. She also requested for a cost of N500,000 against the defendant.
Defence counsel replied that they would be conversing to N60,000.
In his response, counsel to the defendant, Olalekan Ojo, SAN, claimed he is not in the know of the medical reports and that Maduagwu had been issued a query.
Ojo pleaded with the court to discountenance the error and also applied to withdraw his appearance for the defendant.
When the defendant was allowed to speak before the court, he denied knowing anything about the documents.
Justice Abike-Fadipe granted the request by the Defence Counsel to withdraw his appearance for the defendant and also revoked the bail granted.
In her ruling, the trial judge stated, “The prosecution has plainly shown that it is interested in a speedy dispensation of this matter, having produced multiple witnesses on the three dates that had been listed for the trial of this matter.
However, the issue of costs to be paid by counsel will be determined upon the verification of the letter and the production of the first defendant on the warrant issue.
In light of these revelations, Justice Abike-Fadipe revoked the defendant’s bail and ordered his immediate remand in a correctional facility pending the continuation of his trial.
Justice Abike-Fadipe ordered the remand of the defendant in a correctional facility and adjourned the case till October 21, 2025.
