Alleged N600m, $50,000.00 Investment Fraud: Court Issues Bench Warrant against Reaprite Global CEO, Ayodele Toyosi

Court

By JUMOKE SANNI

Justice Olubunmi Abike-Fadipe of the Special Offences Court sitting in Ikeja, Lagos, on Wednesday, May 21, 2025, issued a warrant for the arrest of one Ayodele Toyosi, promoter of Reaprite Global Limited and Agrorite Limited, for failing to appear in court for his trial.

Toyosi, alongside his two companies, is standing trial on an 11-count charge bordering on obtaining by false pretence and stealing to the tune of N600,000,000 ( Six Hundred Million Naira) and $50,000( Fifty Thousand United States of America Dollars).

Investigation revealed that the defendant allegedly defrauded a number of persons on the pretence that he had an interest-yielding investment in agricultural export.

One of the counts reads: “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 own use the aggregate sum of N200,000,000.00 (Two Hundred Million Naira only) 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.”

Another count reads: “That you, Ayodele Toyosi, Reaprite Global Limited and Agrorite Limited, sometime in June 2023 in Lagos, within the jurisdiction of this Honourable Court, by false pretence and with intent to defraud, obtained the aggregate sum of N300,000,000.00 (Three Hundred Million Naira only), 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 used the money to purchase a property known as Plot 17 Pinnock Beach Estate, Anyiran Town, Eti Osa Local Government Area, Lagos and committed an offence contrary to Section 1(1)(a) and punishable under Section 1(3) of the Advance fee Fraud and Other Fraud Related Offences Act, 2006.”