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Businessman in court for issuing dud cheques

30 January 2014, 08:40Augustine Osayande

Abuja - A Taraba State businessman has been arraigned before the courts on charges of issuing dud cheques.

The Economic and Financial Crimes Commission (EFCC) arraigned Yusuf Isa Ahmed before Justice Filibus Andetur at the Taraba State High Court in Jalingo.

The accused was arrested following a petition by Osychris Industries Nigeria Limited alleging that Ahmed, who is the sole proprietor of Yuij Consult in Jalingo, failed to fulfill his obligations in a contract to sell 230 units of Frajend motorcycles valued at N27 million.

The petitioner alleged Ahmed was entrusted with the motorcycles to sell and remit the proceeds to Osychris Nigeria Limited on a monthly basis over a period of 17 months.

It is alleged that only N10, 35 million was remitted.

Ahmed was alleged to have issued several cheques which were dishonoured by the bank for lack of sufficient funds in the account.

The accused pleaded not guilty to the charge and was granted bail in the sum of N1.5m.

His surety is also to show evidence of ownership of a landed property within the jurisdiction.

The case was adjourned to February 20 for commencement of trial.

– CAJ News


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