A 60-year-old businessman, Mathew Babatunde, was on Friday brought before a Yaba Chief Magistrates’ Court in Lagos for allegedly issuing N1.5 million dud cheque to his partner.
Babatunde, who resides in FESTAC area of Lagos, is being tried on a count charge of issuing a dud cheque to the complainant, Mrs. Jacinta Ukadike.
Police Prosecutor, Sgt. Modupe Olaluwoye told the court that the accused committed the offense on Nov. 30, 2017.
Olaluwoye said that the accused collected some goods from her on credit and later issued N1.5 million dud cheque to Ukadike.
She said when the cheque was presented for payment the cheque was dishonoured by the bank due to insufficient money in the said account.
The offense contravened Section 321 of Criminal Laws of Lagos State, 2015 (Revised).
The accused, however, pleaded not guilty to the charge.
The Magistrate, Oluwatoyin Oghere, granted the accused bail in the sum of N500, 000 with two sureties in like sum.
Oghere said the sureties, who must be gainfully employed, must reside within the court’s jurisdiction, show evidence of two years tax payment to Lagos State.
The Magistrate adjourned the case until Nov. 7 for further hearing.