A 59-year-old businessman, Akindele Taofik, was, on Tuesday, arraigned before an Ikeja Chief Magistrates’ Court over alleged issuance of a N5 million dud cheque.
Taofik was arraigned on charges bordering on obtaining under false pretence and issuing dud cheque.
The Prosecutor, ASP Kehinde Ajayi, told the court that Taofik had, sometime in Nov. 2021, obtained the sum of N5 million from a microfinance bank under the pretence of investing it.
“He (defendant) agreed to be remitting the proceeds to the said bank, but knowing same to be false.
“On Jan. 18, 2023, he issued a Sterling Bank cheque with the sum of N2,446,762 to the microfinance bank for clearance.
“The cheque was returned due to insufficient funds and since then, the defendant was nowhere to be found,” Ajayi said.
The offences, according to him, contravene Sections 322 and 314 of the Criminal Law of Lagos, 2015.
The defendant, however, denied committing the offences.
The Magistrate, Mrs E. Kubeinje, granted the defendant bail in the sum of N100,000, with two sureties in like sum.
Kubeinje said that the sureties must show proof of tax payment and which must be verified.
She, thereafter, adjourned the case till May 18 for hearing. (NAN)
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