By Patience Yakubu
Justice Darius Khobo of the Kaduna State High Court, on Monday, ordered the remand of a businessman, Vincent Timothy, facing trial for issuance of dud cheques to the value of N20 million.
Timothy, who is being prosecuted by the Economic and Financial Crime Commission (EFCC), pleaded not guilty to the charge preffered against him.
“The defendant shall be remanded in the Correctional Centre pending ruling on his bail application,” the judge said.
Khobo thereafter adjourned the case until May 12, for ruling on the bail application.
Earlier, Counsel to EFCC, E. K. Garba, had told the court that the defendant committed the offence sometimes in January.
Garba said the defendant took a N20 million loan from Aires Financial Services Limited, which was to be returned at a later date.
The EFCC counsel said that the defendant later issued five dud cheques to the value of N4 million each, which were all dishonoured as a result of insufficient funds in his account.
He said the offence was punishable under Section 1 (1) (b) of the Dishonoured Cheques Act of the Federal Republic of Nigeria.
The Defence Counsel, A. M. Sunday, however asked the court to grant the defendant bail, noting that the offence was not a capital offence.
He said that the defendant had voluntarily reported to the EFCC office on April 3, when he was invited by the anti-graft agency.(NAN) (www.nannews.com)