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The Economic and Financial Crimes Commission, EFCC, on Wednesday, arraigned a businessman, Michael Chibuzo, for the alleged issuance of a N8.5 million dud cheque.<\/p>\n

EFCC charged Chibuzo, alongside his firm, Two Stars Enterprise Ltd., at a Kaduna High Court, with the issuance of dud cheques and fraud.<\/p>\n

The EFCC Counsel, Nasiru Salele, told the court that the defendant committed the offences on January 2.<\/p>\n

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.<\/p>\n

The prosecution said for the repayment of the loan, the defendant issued David a post-dated GT Bank cheque of N8.5 million to be cashed after two months.<\/p>\n

He added that the cheque 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.<\/p>\n

Salele said the offences contravened the Advanced Fee Fraud and Other Related Offences Act 2006.<\/p>\n

The defendant pleaded not guilty to the charges.<\/p>\n

The defence counselor, Gabriel Ede, applied for bail on behalf of his client, stating that the defendant would not jump bail and would provide the bail conditions as required.<\/p>\n

The prosecution, however, did not oppose the bail application.<\/p>\n

The Judge, Justice M. Tukur, granted the defendant bail in the summer of N2 million with two sureties in like sum.<\/p>\n

According to the judge, one of the sureties must be a blood relation of the defendant and the second must have a landed property in Kaduna with genuine land document.<\/p>\n

Tukur added that the sureties must reside within the court\u2019s jurisdiction and adjourned the case until April 30 for a hearing.<\/p>\n

EFCC arraigns businessman for allegedly issuing N8.5m dud cheque<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Economic and Financial Crimes Commission, EFCC, on Wednesday, arraigned a businessman, Michael Chibuzo, for the alleged issuance of a…<\/p>\n","protected":false},"author":1,"featured_media":24151,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1611,384,15],"tags":[1614,387,180],"class_list":["post-24150","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-efcc","category-metro","category-news","tag-efcc","tag-metro","tag-news"],"yoast_head":"\n