Businessman docked for alleged issuance of N8.5m dud cheque

A businessman, Michael Chibuzo, was arraigned on Wednesday by the Economic and Financial Crimes Commission (EFCC) for the alleged issuance of a N8.5 million dud check.

EFCC charged Chibuzo, alongside his firm, Two Stars Enterprise Ltd., at a Kaduna High Court with issuance of a dud check and fraud.

The EFCC Counsel, Nasiru Salele, told the court that the defendant committed the offences on Jan. 2.

According to Salele, the defendant, who was the Managing Director of Two Star Enterprise Ltd., took a loan of N8.5 million from the complainant, Rita David.

The prosecution said that for the repayment of the loan, the defendant issued David a postdated GT Bank check for N8.5 million to be cashed after two months.

He added that the check was, however, dishonoured when it was presented at the bank, and all efforts made by the complainant to get her money back were abortive and unsuccessful.

Salele said the offences contravened the Advanced Fee Fraud and Other Related Offences Act 2006.

The defendant pleaded not guilty to the charges.

The defense counselor, Gabriel Ede, applied for bail on behalf of his client, stating that the defendant will not jump bail and will provide the bail conditions as required.

The prosecution, however, did not oppose the bail application.

The judge, Justice M. Tukur, granted the defendant bail in the summer of N2 million with two sureties in like sum.

According to the judge, one of the sureties must be a blood relative of the defendant, and the second must have landed property in Kaduna with a genuine land document.

READ ALSO:  Erisco/Egodi: MAN advocates fair regulations to safeguard manufacturers, consumers

Tukur added that the sureties must reside within the court’s jurisdiction and adjourned the case until April 30 for a hearing. (NAN)

Related Articles

Back to top button
error: Content is protected !!
Verified by MonsterInsights