EFCC Arraigns Businessman for N20m Dud Cheque

The Economic and Financial Crimes Commission (EFCC) today January 23, 2014 arraigned one Mohammed Yusuf before Justice Farouq Lawal of the Kano State High Court on a two count charge which borders on issuance of dud cheque.

The accused person who is the managing director/chief executive officer of Yusmed Oil and Gas is alleged to have converted the sum of N47, 601,000,000 out of the N118, 080, 000 given to him by the complainant, one Bashir Aminu Sale of AMSALCO Industry Limited for the supply of automotive gas oil The accused person failed to make full supply of the product as required.

In the process of attempting to make a refund, the accused issued two cheques for the sum of N10, 000, 000 (Ten Million Naira Only) each to the complainant which were returned unpaid for lack of sufficient fund in the account.

One of the  charges read: “that you Mohammed Yusuf and Yusmed Oil and Gas Limited on or about the 29th day of January, 2012 in Kano within the judicial division of Kano State High Court issued a Guaranty Trust Bank Cheque with serial number 00000177 dated 29th January, 2012 for the sum of N10, 000, 000 (Ten Million Naira Only) to Amsalco Industry Limited which was presented and returned unpaid on the ground that no sufficient fund were standing to the credit of the drawer as at 10th May, 2012 the date it was presented and you thereby committed an offence contrary to section 1(1)(a) and punishable under section (1)(1)(b)(i) of the Dishonoured Cheque (Offences) Act, Laws of the Federation 2004”

The accused pleaded not guilty to the charge when it was read to him.

Counsel to the prosecution, M.M Gambo asked the court to fix a date for hearing based on the plea of the accused.

Justice Lawal adjourned the case to 31st January, 2014 and ordered that the accused person be remanded in EFCC custody.