The defendants were docked on Monday before Justice Rilwan Alkawa of the Federal High Court sitting in Lagos.
The six-count charge against them border on money laundering.
They allegedly received the sum of $1.29million and N46million without information the EFCC, as required under Section 5(1)(a) and 10(1)b) of the Money Laundering Act.
Ebuka Okongwu, EFCC counsel, told the court that Morakinyo and his firm failed to notify the agency of four transactions.
He said $1million, $290,703, N16million and N30million were made into the accounts of Renocoon Properties Development Limited.
The transactions were allegedly made between 2013 and 2015 in violation of the provisions of the Money Laundering Act 2011.
When the charges were read, Morakinyo and his firm pleaded “not guilty”.
Okechukwu Edeze, the defence counsel, sought an adjournment to file for bail for his clients.
Justice Alkawa granted his prayers and adjourned hearing for bail till July 28, 2020 and trial October 15, 2020.
