The Economic and Financial Crimes Commission (EFCC) arraigned suspect Martins Morakinyo on October 24, 2025, at the Lagos State High Court in Ikeja, before Justice R. A. Oshodi. Morakinyo, who trades under the name Refined Edge Concept, faces three counts of stealing, obtaining property by false pretence, and conspiracy to steal. The charges allege that he and an accomplice, Tope Afolabi—who remains at large—converted N13,283,750 belonging to Jawo Technologies and Innovative Solutions Limited for personal use in 2024. Morakinyo pleaded not guilty when the charges were read.
Prosecution counsel A. A. Usman requested a trial date and asked that the defendant be remanded to a correctional centre. Defense counsel B. J. Fayemi sought a date to move an application for bail on his client’s behalf. Justice Oshodi adjourned the matter until November 7, 2025, for the bail hearing and scheduled the trial to commence on December 9 and December 12, 2025. The judge ordered that Morakinyo be remanded at the Maximum Correctional Centre in Kirikiri, Lagos.
The EFCC’s action forms part of its broader effort to combat financial crimes and bring perpetrators to justice. The commission has been actively investigating and prosecuting theft, fraud, and other economic offences across Nigeria. This case, involving the alleged theft of N13 million, carries significant implications for businesses and individuals affected by similar crimes. It underscores the importance of accountability and the rule of law in the country’s financial sector. As proceedings continue, further details are expected to emerge, and the court will ultimately determine the defendant’s guilt or innocence.
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