The Economic and Financial Crimes Commission (EFCC) has arraigned a suspect, Martins Morakinyo, for allegedly stealing N13 million. The arraignment took place on October 24, 2025, at the Lagos State High Court in Ikeja, Lagos, before Justice R. A. Oshodi. Morakinyo, who trades under the name Refined Edge Concept, was charged with three counts of stealing, obtaining property by false pretence, and conspiracy to steal.
According to the charges, Morakinyo and an accomplice, Tope Afolabi, who is currently at large, allegedly converted N13,283,750 belonging to Jawo Technologies and Innovative Solutions Limited to their personal use in 2024. The defendant pleaded not guilty to the charges when they were read to him.
The prosecution counsel, A.A. Usman, requested a trial date and asked the court to remand the defendant in a correctional center. The defense counsel, B.J. Fayemi, requested a date to move an application for bail on behalf of his client. Justice Oshodi adjourned the case until November 7, 2025, for the hearing of the bail application and scheduled the commencement of the trial for December 9 and 12, 2025. The judge also ordered the defendant to be remanded at the Maximum Correctional Centre in Kirikiri, Lagos.
The EFCC’s action is part of its efforts to combat financial crimes and bring perpetrators to justice. The commission has been actively investigating and prosecuting cases of theft, fraud, and other economic crimes in Nigeria. The outcome of this case will be closely watched, as it highlights the importance of accountability and the rule of law in the country’s financial sector.
The alleged theft of N13 million is a significant amount, and the case has implications for businesses and individuals who may have been affected by similar crimes. The EFCC’s investigation and prosecution of this case demonstrate its commitment to protecting the public interest and ensuring that those who engage in financial crimes are held accountable. As the case progresses, it is expected that more details will emerge, and the court will ultimately determine the guilt or innocence of the defendant.