Police arraign man for issuing N11.2m dud cheques

The Special Fraud Unit (SFU) of the Nigeria Police Force, Lagos, today, arraigned a man, Akinkunle Olunloyo who is said to be cousin to the former governor of old Oyo State, Chief Victor Olunloyo, before a Federal High Court, Lagos, for allegedly issuing a dud cheques of Guaranty Trust Bank Plc, valued N11, 250,913.78 million.

The defendant was arraigned before the court on five counts charge bordering on issuance of dud cheques.

Arraigning the defendant alongside his company, Code Media Limited, on Tuesday, the prosecutors, Mr. Chukwu Agwu, a Deputy Superintendent of Police (DSP), who stood in for Mr. Emmanuel Jackson, the Officer-In-Charge of SFU’s legal department, told the court that the defendant committed the offence between 2011 and 2017.

The prosecutor told the court that the defendant issued the dud cheques on five different occasions, to the representatives of a company called Aquila Leasing Limited and that each time the cheques are presented at the bank, they were never honoured for insufficient funds in the account of the defendant.

The prosecution in charge number FHC/L/148c/18, listed the dates of the cheque and the value as: May 28, 2015, June 28, 2015, February 28, 2015, with the value of N3,369,736.30 each and between August 28, 2011 and February 7, 2017, with the value of N141,704.88 and N1 million respectively.

Agwu told the court that the offences committed by the defendant are contrary to and punishable under section 1(1)(i) of the Dishonoured Cheques (Offences) Act, Cap D11, Laws of the Federation of Nigeria, 2004. 

The defendant pleaded not guilty to the charge. 

Following the defendant’s plea, his lawyer, Samusudeen Abubakar, told the court that he had filed the his client’s bail application and same has been served on the prosecution.

The defendant’s counsel submission was confirmed by the prosecutor, Mr. Agwu, who also told the court that the prosecution is not opposing the application but added that the court must impose conditions that will ensure the defendant’s attendance in court for trial.

Upon the submission of the prosecutor, the presiding judge, Justice Sule Hassan, ordered the counsel to the defendant to move his application.

Consequently, Justice Hassan admitted bail to the defendant in the sum of N5 million with one surety in the same sum.

Justice Hassan also ordered that the surety may be a landed property owner within the  court’s jurisdiction or a Grade Level 14 officer either in the federal or Lagos State establishment or a director of a Registered firm or company, who must also deposit his or her two recent passport photograph.

Justice Hassan while releasing the defendant to his counsel, Mr. Abubakar, ordered that all the bail conditions must be fulfilled before the next adjourned date.

The matter has been adjourned till May 20, for trial.

Count one of the charge against the defendant reads: “that you, Akinkunle Olunloyo and Code Media Ltd, on or about 28th May, 2015, in Lagos, within the jurisdiction of this Honourable Court, issued GTBank cheque No. 48054208 in the sum of Three Million, Three Hundred and Sixty Nine Thousand. Seven Hundred and Thirty Six Naira, Thirty Kobo (N3,369,736.30k) in favour of Aquila Leasing Ltd represented by its staff, which when presented for payment within three months, was dishonoured for lack of funds, standing in the credit of the account, against which the cheque was issued, to meet the value of the said cheque, and by this conduct, you thereby committed an offence contrary to and 

punishable under Section 1(1)(i) of the Dishonoured Cheques (Offences) Act, Cap D11, Laws of the Federation of Nigeria, 2004. 

And the fifth count reads: “that you, Akinkunle Olunloyo and Code Media Ltd, on or about 7th February, 2017, in Lagos, within the jurisdiction of this Honourable Court, issued GTBank cheque No. 53988446 in the sum of One Million Naira (N1,000,000) in favour of Aquila Leasing Ltd, represented by its staff, which when presented for payment within three months, was dishonoured for lack of funds, standing in the credit of the account, against which the cheque was issued, to meet the value of the said cheque, and by this conduct, you thereby committed an offence, punishable under Section 1(1)(i) of the Dishonoured Cheques (Offences) Act, Cap D11, Laws of the Federation of Nigeria, 2004”. 

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