EFCC arraigns man for issuing dud cheques in Enugu

NAN-H-114
EFCC
By Emmanuel Acha
Enugu, Feb. 21, 2017 (NAN) The Economic and Financial Crimes Commission (EFCC) has arraigned, Marcel Amadi, in a Federal High Court in Enugu for issuing N25.1 million dud cheque.

Amadi is facing a three-count charge bordering on illegal operation of financial services and issuance of dud cheque to the tune of N25.1 million without valid licence

The prosecutor, Mr Rotimi Ajobiewe, said the offence contravened Section 2(1) of the Banks and Other Financial Institutions Act, Cap B3, Laws of the Federation, 2004 and Punishable under Section 2(2) of the same Act.

Ajobiewe said that Amadi was in the business of offering financial services to clients through his company, M.A and Sons Commission Agents Nigeria.

He said that the company was not registered neither by the state government nor the Central Bank of Nigeria.

The prosecutor said that investigations revealed that the suspect was a money lender who invested monies collected from his clients.

“His ordeal started when he stopped the payment of interest on a N25 million invested in the business by the petitioner and could not also refund the principal amount.

“The accused had held the invested fund since 2010 and then issued six cheques to the complainant but were returned unpaid due to insufficient funds,” he said.

The accused, however, pleaded not guilty to the three counts charges.

In his submission, the defence counsel, Mr I.M Ugwu, prayed the court to allow the administrative bail earlier granted his client by the EFCC.

The judge, Justice Dugbo Oghoghorie, said the accused should remain on the administrative bail, and adjourned the matter till March 14 for trial. (NAN)

EOA/MNA/OFN
Edited by Maureen Atuonwu// Felix Nwadioha