By Our Reporter
A 59-year-old businessman, Akindele Taofik, on Tuesday, appeared before an Ikeja Chief Magistrates’ Court over the alleged issuance of a N5 million dud cheque.
Taofik is facing charges bordering on obtaining funds under false pretence and issuing a dud cheque.
The Prosecutor, ASP Kehinde Ajayi, told the court that the defendant had, sometime in Nov. 2021, obtained N5 million from a microfinance bank under the pretence of investing it.
“Taofik agreed to be remitting proceeds from the investment to the said bank but knew same to be false.
“On Jan. 18, 2023, he issued a Sterling Bank cheque of N2,446,762 to the microfinance bank for clearance,” Ajayi said.
According to the prosecution, the bank returned the cheque due to insufficient funds. He said that since then, the defendant was nowhere to be found.
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Ajayi said the offences contravened Sections 322 and 314 of the Criminal Law of Lagos, 2015.
The defendant, however, denied committing the offences, pleading not guilty.
The Magistrate, Mrs E. Kubeinje, granted the defendant N100,000 bail, with two sureties in like sum.
Kubeinje said that the sureties must show proof of verifiable tax payment.
She then adjourned the case till May 18 for a hearing.
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