A 56-year-old businessman, Adeyemi Oguntoyinbo, who allegedly collected a loan of N1.6 million from a micro-finance bank and issued a dud cheque, on Friday appeared in an Igbosere Magistrates’ Court in Lagos.
Oguntoyinbo, whose address was not given, is charged with on one count of issuance of dud cheque.
The Prosecutor, Sgt. Friday Mameh, told the court that the accused committed the offence on April 4, at No. 32, Lewis St., Lagos Island.
He said that the accused obtained a loan from the complainant, Addosser Micro-finance Bank and refused to pay back.
The prosecutor said the accused issued the cheque, knowing full well that he had insufficient funds in the account.
The offence, he said, contravened the provisions of Section 32 (a) of the Criminal Law of Lagos State, 2015.
The accused, however, pleaded not guilty to the charge, according to the News agency of Nigeria, NAN.
The Magistrate, Miss O. A. Ogunjobi, admitted the accused to bail in the sum of N700, 000 with two sureties in like sum.
She ordered that the sureties must be gainfully employed, must show evidence of tax payment to the Lagos State Government and have their addresses verified.
Ogunjobi adjourned the case until Jan. 19,2019 for mention.
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