EFCC Arraigns Businessman Over N 8 million Dud Cheque!

The Economic and Financial Crime Commission, EFCC, on Monday arraigned one Mike Arowosegbe alongside his company, Mikkon Essence Works Limited before Justice Abba B. Mohammed of the FCT High Court, Abuja, on a one count charge bordering on issuance of dud cheque and breach of trust.

The accused, who is the managing director of Mikkon Essence Works Limited is said to have entered into an agreement with Eric Achief, the managing director of Achief Electrical Nigeria Limited for the supply of one hundred seven meter light poles amounting to N8 million. The accused is said to have issued a post-dated cheque which when presented for payment was dishonoured.

The one count charge reads: ” That you Mike Arewosegbe in your capacity as the Managing Director of Mikkon Essence Works Limited, and you Mikkon Essence Works Limited on or about the 21st day of December 2011 in Abuja within the jurisdiction of this Honourable court did with the knowledge that you had insufficient fund in your account issued to one Achief Electrical Nigeria Limited a Skye Bank Cheque No 10000033 dated 21st December 2011 for the sum of Eight Million Naira (N8,000,000) which when presented for payment within three months of issuance was dishonoured due to insufficient fund in your account and thereby committed an offence contrary to section 1 (1)(b) of the Dishonoured Cheque (Offences) Act Cap. D 11 Laws of the Federation of Nigeria, 2004 and Punishable under Section 1(1) (b) (i) of the same Act.”

When the charge was read, Arewosegbe pleaded not guilty.

In view of his plea, the prosecuting counsel, Michael Nzekwe prayed the court to fix a date for trial to enable the prosecution prove its case and also urged the court to remand the accused person in prison custody. However, counsel to the accused, Ajayi Ilesanmi, prayed the court to admit his client to bail.

Justice Mohammed granted the accused person bail in the sum of N8 million and one surety in like sum. The surety should be a Managing Director of a company who resides within the jurisdiction of the court. Justice Mohammed ordered that the accused person be remanded in Kuje prison pending the fulfillment of the bail conditions .

The matter was adjourned to September 23, 2013 for trial.

 

Author: NewsAdmin

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