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Home Anti-Corruption EFCC Arraigns Man For $1.6m Dud Cheque
  • Anti-Corruption

EFCC Arraigns Man For $1.6m Dud Cheque

By
Tony Orilade
-
January 21, 2019
EFCC
EFCC Operatives

EFCC Arraigns Man For $1.6m Dud Cheque

The Economic and Financial Crimes Commission, EFCC, on January 21, 2019, arraigned one Ayodeji Ibrahim Oluokun along with his company, Peak Petroleum Industry Nigeria Limited, before Justice Oluwatoyin Taiwo of the Special Offences Court sitting in Ikeja on a two-count charge bordering on issuance of dud cheques to the tune of $1.6 million.

The offence is contrary to Section 1(1) (b) of the Dishonoured Cheques (Offences) Act, Cap D 11 Laws of the Federation of Nigeria, 2004.

The defendant was alleged to have approached the Managing Director and Chief Executive Officer of GOSL Nigeria Limited, Emmanuel Ekpeyong, for a loan of $1 million and $666,666 respectively to enable him carry out operation activities in his company’s oil field in Bayelsa State.

He was said to have assured the complainant that he would repay the money within a year.

The defendant allegedly issued two post-dated Standard Chartered Bank Nigeria Limited cheques dated June 26, 2014 for the sum of $1 million and $666,666 respectively.

However, when the cheques were presented for payment, they were returned due to insufficient funds.

One of the charges read: “That you, Ayodeji Ibrahim Oluokun and Peak Petroleum Industry Nigeria Limited, on or about 26th June, 2014, at Lagos within the Ikeja Judicial Division issued a Standard Chartered Bank Nigeria Limited Cheque dated 26th June, 2014 for the sum of $1,000,000 (One Million Dollars) only payable to GOSL Nigeria Limited, which when presented for payment was dishonoured on the grounds that no sufficient funds were standing to the credit of the account on which cheque was drawn.”

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The second count reads: “That you, Ayodeji Ibrahim Oluokun and Peak Petroleum Industry Nigeria Limited, on or about 26th June, 2014, at Lagos within the Ikeja Judicial Division issued a Standard Chartered Bank Nigeria Limited Cheque dated 26th June, 2014 for the sum $666,666 (Six Hundred and Sixty-Six Thousand, Six Hundred and Sixty-Six Dollars only) payable to GOSL Nigeria Limited which when presented for payment was dishonoured on the grounds that no sufficient funds were standing to the credit of the account on which cheque was drawn.”

When the charges were read to the defendant, he pleaded “not guilty”.

In view of the defendant’s plea, the prosecuting counsel, Ocholi Atta, asked the court for a trial date and also prayed the court to remand the defendant in prison custody pending the determination of the case before the court.

However, counsel for the defendant, E.O. Yoroh, informed the court that he filed an application for bail on behalf of his client “this morning” because he was briefed about the matter “yesterday”.

He, therefore, prayed the court to hear the application and admit his client to bail.

Ocholi, however, objected to the prayer of the defence on the grounds that he had yet to be served with the application.

He urged the court to give the prosecution some time to go through the application when served and also prayed the court to remand the defendant in prison custody.

After listening to both parties, Justice Taiwo adjourned the matter to January 28, 2019 for “determination of the defendant’s bail application” and ordered the defendant to be remanded in the EFCC custody.

Tony Orilade
Ag. Head, Media & Publicity

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Local Government Autonomy Not Negotiable — FG DeclaresNigeria’s Future Rests on Smart Defence Management — Badaru to Military LeadersCustoms Hands Over 99.2bn Worth of Illicit Pharmaceutical Products to NAFDACTroops Intercept 3 Gunrunners, Seize Weapons, Cash in KadunaTroops Bust IPOB/ESN Logistics Network, Arrest Informants in Southeast — DHQSoludo and Radda’s Candid Confessions on Homegrown Terror By Tahir AhmadRat Story Was a Smokescreen to Divert Attention from Buhari’s Health - Garba Shehu RevealsNigeria's Second Chance at a Global Cashless Future By Fatimah Yusuf UsmanAir Chief Rallies New Intelligence Officers for Proactive Security ResponseCustoms, NAFDAC Activate MoU to Fight Substandard Products By Abdullah MaiwadaNELFUND Resumes Monthly Upkeep Payments, Credits Over 3,600 StudentsNNPCL Must Account for ‘Unreconciled’ N210tr in Financial Statements - Senate InsistsPresidency Debunks Misleading Reports on VP Shettima’s Remarks at Book LaunchPolice Arrest, Repatriate Chinese Fugitive Wanted for Tax FraudMurder of Wedding Guests: Plateau Court Remands 20 Suspects
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