Bizman Docked Over N4.7m Dud Cheque

A 38-year old director of a dredging firm, Frank Ojeuwe, has been arraigned before an Igbosore Magistrate’s Court on a two-count charge of issuing N4.7 million dud cheque.

The police at Zone 2 Command, Onikan, Lagos Island, Lagos State, southwest Nigeria, alleged in charge suit M/37/2012 that the accused was arrested following a complaint lodged by the management of WECH Brain Oil Dredging Co. Ltd., that the accused, on 4 June, 2012, at Ijanitun, Lagos, knowingly and fraudulently issued them Oceanic Bank Plc (now Ecobank) cheque leaf number 00000225 dated 4 June, 2012 for N3 million and cheque leaf number 00000257 dated 7 June, 2012 for N1,718,330 for a service rendered to him and when presented for payment at the bank, it was dishonoured as a result of insufficient funds in the account in which the cheque was drawn.

The offences, the prosecutor, Inspector Marcus Okon said, contravenes section 1 of the dishonoured cheques offences act, Cap D11 Vol. 5, Laws of the Federation of Nigeria, 2004 as amended.

The accused pleaded not guilty to the charges and the presiding magistrate, Mrs. Oguntade granted him bail in the sum of N200,000 with two sureties who must provide proof of one year tax payment to the Lagos State government.

The magistrate also directed that one of the sureties must be on managerial position in a reputable firm.

She adjourned the matter till 5 November, 2012 for mention.

The defendant was taken to Ikoyi Prison when he could not meet the bail condition.

—Paul Iyoghojie