EFCC arraigns businessman for issuing N8m dud cheque

The Economic and Financial Crimes Commission

The accused person was arraigned on a two count charge bordering on fraudulent issuance of dud cheques.

The Economic and Financial Crimes Commission, EFCC, Tuesday, arraigned Emmanuel Oserin before Justice R.I. Ahiakwo of the State High Court, Port Harcourt, on two-count charge bordering on fraudulent issuance of dud cheques.

The accused, who is the Managing Director of Topsham Nigeria Limited and Mcmalay Integrated Nigeria Limited, allegedly issued two cheques for N8 million in favour of Resort Savings and Loans Plc but were returned unpaid upon presentation due to insufficient funds in his accounts.

The cheques were meant to settle an overdraft facility which the accused person obtained from Resort Savings and Loans Plc to finance a job with Shell Petroleum Development Company in 2010.

Mr. Emmanuel pleaded not guilty to the charge.

One of the charge reads in part; “that you Emmanuel Ayoola Oserin being the Managing Director of Topsam Nigeria Limited on or about the 23rd day of March, 2011 at Port Harcourt in Port Harcourt Judiciary Division of the High Court of Rivers State did fraudulently issue a First Bank Plc cheque, no 0043425886 dated 23rd day of March 2011 in the sum of Six Million Naira (N6,000,000.00) in favour of Resort Saving & Loan Plc in the name of your company Topsam Nigeria Limited which was to settle your financial obligation with the said Resort Savings & Loan Plc and when the said cheque was presented for payment within three months of its issue, it was dishonoured due to in sufficient funds standing to your credit and thereby committed an offence contrary to section 1(1)(a) and (b)(i) & (ii) of the dishonoured cheques (Offences) Act Cap D11 of the Revised Edition (Laws of the Federation) 2007”.

Justice R.I. Ahiakwo granted the accused bail in the sum of N50 million and two sureties in like sum. The sureties, who must be resident within the jurisdiction of court, must own a property within Port Harcourt City valued at not less than N10 million..
The case was adjourned to July 31.


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