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Businessman jailed two years for issuing dud cheque

The conviction of one Sampson Onyekachi was secured by the Port Harcourt zonal office of the Economic and Financial Crimes Commission (EFCC) on Wednesday for issuing a N5million dud cheque to a firm.

WITHIN NIGERIA learnt that the anti-graft agency arraigned the convict at the state high court, Port Harcourt on a charge bordering on insurance of dishonoured cheque contrary to Section 1 of the Dishonoured Cheques (Offences) Act laws of the Federation, 2007.

It was also learnt that Onyekachi issued the cheque as part payment of a total sum of N9, 610,000 which was paid into the account of his company as payment for the supply of equipment to Daewoo Company, Brass, Bayelsa State.

According to report, the petitioner, who secured the contract approached Onyekachi and got his consent to use his company’s invoice to execute the contract.

But between April and May 2015, the petitioner claimed he made two supplies, one for N7,050,000.00 on the invoice No. 08250 and the second for N2,560,000.00 on invoice No, 08264.

A year after the transactions were consummated, the defendant issued the petitioner a cheque for N5million which he presented but was returned unpaid for lack of funds.

Justice M. O. Opara convicted and sentenced the defendant to two years imprisonment.

He was also ordered to pay the sum of N3million as restitution to the nominal complainant.

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