EFCC Arraigns Man for N40m Fraud

In a related development, the  EFCC,  today  arraigned one Salami Adejare before Justice A.I Kutigi of an FCT High Court sitting in Apo, Abuja on a 2-count charge bordering on issuance of dud cheque.

Adejare allegedly issued two separate cheques in the name of S. Adejare Nigeria Limited to the tune of N40m (forty million naira) in favour of  New-Way Nigeria Limited sometime in August, 2013 which upon presentation for payment was returned unpaid for insufficient funds in the account, in contravention of  Section 1 (1) (b) of the Dishonoured Cheques (Offences) Act Cap D11 Laws of the Federation of Nigeria 2004 and punishable under Section 1 (1)(b) of the same Act.

Count two of the charge reads:

“That you, SALAMI ADEJARE being the authorised signatory to S Adejare Nigeria Limited account with First Bank of Nigeria Plc and S ADEJARE NIGERIA LIMITED on or about the 22^nd August, 2013, in Abuja within the jurisdiction of this hounorable court, issued a first bank cheque No. 08512801 dated 30^th August, 2013 in the sum of 30,000,000.00 (Thirty Million Naira) in favour of New-way Nigeria Limited, which when presented was dishonoured  on the ground of insufficient funds standing to your credit and thereby committed an offence contrary to Section 1(1)(b) of the Dishonoured Cheques (Offences) Act Cap D11 Laws of the Federation 2004 and punishable under Section 1(1)(b)(i) of the same Act”.

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

Justice Kutigi admitted the accused to bail in the sum of N5m (five million naira) with one surety not below grade level ten (GL 10) in the civil service and adjourned to January 21, 2016 for hearing.

The accused is to be remanded in Kuje prison custody until the bail terms are met.