The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission, EFCC , on Tuesday, October 21, 2025, arraigned one Ayodele Toyosi and his companies, Reaprite Global Limited and Agrorite Limited, before Justice R.A.Oshodi of the Special Offences Court sitting in Ikeja, Lagos State, on separate charges for an alleged N442.7m theft.
Toyosi and his two companies were arraigned on separate charges -a 17-count charge and a four-count charge, respectively – bordering on stealing, obtaining by false pretence, and issuance of dishonoured cheques to the tune of ₦442,717,808.20.
One of the 17-count charge read: “That you, Ayodele Toyosi, Reaprite Global Limited and Agrorite Limited, sometime between October 2022 and October 2023 in Lagos, within the jurisdiction of this honourable court, dishonestly stole and converted the aggregate sum of N212,000,000.00 (Two Hundred and Twelve Million Naira) and $5,000.00 )Five Thousand US Dollars) property of Chizim Esther Asiagwu and others, thereby committed an offence of stealing contrary to Section 280(1) (a) and (b) of the Criminal Law of Lagos State, 2015 and punishable under Section 287 of the said Law.”
One of the four-count charges read: “That you, Ayodele Toyosi, Reaprite Global Limited and Agrorite Limited sometime between 2022 and 2023, in Lagos within the jurisdiction of this honourable court, dishonestly stole and converted the aggregate sum of N653,000,000.00 (Six Hundred and Fifty-Five Million Naira) property of BRISTOW Staff Cooperative Multi-Purpose Society Ltd and Udekwe Stella Nnenn thereby committed an offence of stealing contrary to Section 280(1) (a) and (b) of the Criminal Law of Lagos State, 2015 and punishable under Section 287 of the said Law.”
The defendants pleaded not guilty to the separate charges when they were read to them.
Following their pleas, the prosecution counsel, A. A. Usman, asked the court for a trial date and also prayed that the first defendant, Toyosi, be remanded in a Correctional Centre.
The defence counsel, Oladapo Hamzat, prayed the court to allow the first defendant to continue to enjoy the bail earlier granted him in another matter by Justice Olubunmi Abike-Fadipe of the Special Offences Court, Ikeja, Lagos.
Justice Oshodi granted the first defendant bail on both charges in the sum of N200m, with two sureties in like sum.
The Judge, while varying the existing bail earlier granted the first defendant, ordered that both sureties must have landed properties with registered titles in Lagos State, which should be verified by the court’s Registrar.
The sureties were ordered to depose to their affidavit of means.
The judge also ordered the defendant to deposit his passport with the court’s Registar, and that the EFCC must notify the Nigerian Immigration Service within seven days that the passport is with the court.
The judge adjourned till December 8 and 10, 2025 for the commencement of trial.
