Anti-corruption and elections / EFCC

N50m Fraud: EFCC Arraigns Man for Issuance of Dud Cheque

The Economic and Financial Crimes Commission, EFCC, Lagos office, today arraigned one Bayo Alli and his company, Transoceanic Logistic Limited before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja on a nine-count charge bordering on issuance of dud cheque to the tune of N50, 000, 000.00 ( Fifty Million Naira Only), an offence contrary to Section (2) (b) of the Dishonoured Cheques (Offences) Act, Cap. D 11 Laws of Federation of Nigeria, 2004. The defendant allegedly failed to repay a facility granted him by a new generation bank. Instead, he issued cheques which were retur…