NAN-H-20
Fraud
By Deborah Akpede
Lagos, Oct. 11, 2016 (NAN) For allegedly issuing a dud cheque of N1,107,87, a 40-year-old ICT administrator, Banjo Olufemi, on Tuesday appeared before an Ikeja Magistrates’ in Lagos.
Olufemi, a resident of Iju, Lagos, was charged with fraud.
The prosecutor, Insp. George Nwosu, told the court that the accused committed the offence on July 28 at Lagooz Investment Ltd., Agege, Lagos.
He said that the accused transacted a business with the company to the tune of N1,107,87 and issued a dud cheque to the company.
“The accused approached the company to obtain a loan of N753,000 and promised to pay back with interest.
“The loan, with the accumulated interest, is N1,107,87; the accused issued a cheque of N1,107,87 of Guaranty Trust Bank(GTB).
“When the cheque was presented, it was dishonored due to insufficient fund,” he said.
Nwosu said that the offence contravened Section 312 of the Criminal Law of Lagos State, 2011.
The News Agency of Nigeria (NAN) reports that Section 312 provides for 15 years imprisonment on conviction for fraud.
The accused, however, pleaded innocence of the offence, and was granted bail in the sum of N250,000 with one surety in like sum.
The Magistrate, Mr A.A Adesanya, adjourned the case to Nov. 28 for mention. (NAN)
DOA/IGO