EFCC Takes Legal Action Against Businessman For N8.5m Dud Cheque Allegation

EFCC Takes Legal Action Against Businessman For N8.5m Dud Cheque Allegation....KINDLY READ THE FULL STORY HERE▶

The Economic and Financial Crimes Commission (EFCC) brought Michael Chibuzo, a businessman, before the Kaduna High Court on Wednesday, accusing him of issuing a N8.5 million dud cheque. Alongside Chibuzo, his company, Two Stars Enterprise Ltd., also faced charges related to cheque fraud.

During the court proceedings, EFCC’s Counsel, Nasiru Salele, alleged that Chibuzo committed the offences on January 2nd. Salele explained that as the Managing Director of Two Star Enterprise Ltd., Chibuzo borrowed N8.5 million from Rita David, the complainant. In return, he issued a post-dated GT Bank cheque of the same amount, promising repayment within two months.

However, when David attempted to cash the cheque, it was dishonored by the bank. Despite her efforts to recover the funds, she was unsuccessful. Salele argued that these actions violated the Advanced Fee Fraud and Other Related Offences Act 2006.

Chibuzo pleaded not guilty to the charges. In response, his defense counsel, Gabriel Ede, requested bail for his client, assuring the court that Chibuzo would comply with all bail conditions and not flee.

For more information join our WhatsApp group by clicking the link here: WhatsApp Group Invite