EFCC Docks Emmanuel Ayoola For N8m Dud Cheque
SAN FRANCISCO, May 22, (THEWILL) – The Economic and Financial Crimes Commission on Tuesday May 21, 2013 arraigned one Emmanuel Ayoola Oserin, before Justice R.I. Ahiakwo of the State High Court, Port Harcourt on a 2-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 N8m (eight Million Naira) 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.
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, 000,000.00 (Fifty Million Naira) 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, 000,000.00 (Ten Million Naira).
The case was adjourned to July 31, 2013.