The Police on Thursday in Lagos arraigned a 35-year-old businessman, Njoku James, who allegedly issued dud cheques of N6.9 million.
James appeared in an Ikeja Chief Magistrates’ Court on a three-count charge of conspiracy, issuance of dud cheques and stealing.
The Prosecutor, Sgt. Joseph Ajebe, said that the accused, and others still at large, committed the offences between December 2014 and April 2015 at ELBE PHAMA Nig. Ltd. Lagos.
He said that the businessman had taken delivery of some pharmaceutical products valued N7.122 million from the company with intent to defraud.
Ajebe said the accused, on the pretext of making part-payment for the goods, issued post-dated First Bank cheques with serial numbers 108812 and 108813 to the tune of N6.9 million to the said company.
He said the cheques were issued on April 30, 2015 and May 30, 2015 respectively.
“The cheques were dishonoured on presentation due to insufficient funds in the account,” he said.
According to the prosecutor, the offences contravene Sections 285, 313 and 409 of the Criminal Law of Lagos State, 2011.
The News Agency of Nigeria (NAN) reports that Section 285 prescribes a three-year jail term for stealing, while Section 313 stipulates15 years imprisonment for obtaining credit under false pretences.
The accused, however, pleaded not guilty to the three counts of the charge.
The Chief Magistrate, Mr Alexander Komolafe, granted the accused bail in the sum of N3 million with two sureties in like sum.
He adjourned the case till April 4 for mention.

Ad:See How you can turn $500 into $10,000 Click HERE For Details.