EFCC arraigns businessman for allegedly issuing N5m dud cheque

The Economic and Financial Crimes Commission (EFCC), on Monday arraigned one Kosi Osa Onyekeli and his company, Flex Word Dynamic System Ltd, in Apo, Abuja for allegedly issuing N5 million dud cheque to a firm, INTERLAGOS OIL.

Onyekeli and his company are facing a two-count charge bordering on issuance of a dud cheque and fraud.

The defendants pleaded not guilty to the offences.

The Prosecutor, Mr Victor Ukagwu, told a FCT High Court, Apo, Abuja, that the defendants committed the alleged offences on Dec.31, 2012.

Ukagwu said that the defendants issued a dud cheque to INTERLAGOS OIL even when Onyekeji allegedly knew there was insufficient fund in the company’s account.

The prosecutor said that when the cheque was presented within three months of issuance, it was dishonoured due to insufficient funds.

Ukagwu said that the offences contravened Section 1(1)(a)of the Dud Cheque (offences)Act Cap102, Laws of the Federation of Nigeria, punishable under Section 1(1)(b)(i)(ii) of the same Act,2007.

Justice Silvanus Oriji granted bail to the defendants in the sum of N5 million and two sureties in like sum.

Oriji said that the sureties must be residents of the Federal Capital Territory (FCT), Abuja.

He, however said that the Chief Judge of the FCT would assign a date for the hearing after the August (Judicial) Break.