Judiciary
THE Economic and Financial Crimes Commission, EFCC, Lagos office, has arraigned one Bayo Alli and his company, Transoceanic Logistic Limited before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja on a nine-count charge bordering on issuance of dud cheque to the tune of N50, 000, 000.00 ( Fifty Million Naira Only), an offence contrary to Section (2) (b) of the Dishonoured Cheques (Offences) Act, Cap. D 11 Laws of Federation of Nigeria, 2004.
The defendant allegedly failed to repay a facility granted him by a new generation bank. Instead, he issued cheques which were returned unpaid.
The defendant pleaded not guilty to the charges.
One of the counts reads: “That you Bayo Alli and Transoceanic Logistics Limited sometimes in May, 2017 in Lagos, within the Ikeja Judicial Division issued a Skye Bank Plc cheque number 08199733 dated 31st May, 2017 for the sum of N5, 000, 000.00 (Five Million Naira Only) payable to First City Monument Bank Plc, which when presented for payment at the said bank within three (3) months of issuance, was dishonoured on the ground that no sufficient funds were standing to your credit in the account at the bank on which the cheque was drawn.”
Upon the plea of the defendant, prosecution counsel, G.C. Akaogu, asked the court for a trial date and an order to remand the defendant in the Nigerian Correctional Service custody, pending the determination of the case.
Counsel to the defendant, O.S. Odueso, however, informed the court that a bail application had been served on the prosecution, which he also presented in court following approval by the trail judge.
Odueso urged the court to admit his client to bail on liberal terms.
In response, prosecution counsel,Akaogu told the court that the issue of bail was at the discretion of the court, but stated that stringent conditions should be given to ensure the appearance of the defendant in court for trial.
Justice Dada, after listening to both parties, granted the defendant bail in the sum of N2 million and two sureties in like sum. The sureties must be gainfully employed.
The matter was adjourned until February 18 and 19, 2020 for commencement of trial.
– Nov. 14, 2019 @ 11:17 GMT |
Tags: N50m Fraud: EFCC arraigns man for issuance of dud cheque
