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Economic and Financial Crimes Commission, EFCC, has arraigned the Managing Director of Skyhigh Ventures Ltd., Mrs. Joy Folake Yobah, before Justice Sylvanus Orji of the High Court in the Federal Capital Territory, FCT, sitting in Apo, Abuja, on a five-count charge of issuing dud cheque worth N50million.
Yobah had reportedly between 2014 and 2015 issued dud cheque of N10million each to Emmanuel Uzomah, the Managing Director of United Surgicals Limited for the payment for loan agreement her company entered into with United Surgical Limited.
The loan was said to be meant for the finance of a contract awarded to Skyhigh Ventures Ltd for the installation of security surveillance systems at the Bauchi branch of the Central Bank of Nigeria, CBN, with award letter reference PSD/PP/GEN/PEL/001 dated 21st May, 2012.
It was gathered that United Surgicals granted the sum of N40million to Skyhigh Ventures Ltd as loan with a monthly interest of 15percent.
However, in the bid to keep faith with the agreement, Yobah, paid the sum of N25million to United Surgical with a balance of N39million as a result of the interest that has mounted as at January 1, 2014.
In keeping with the agreement Yobah allegedly issued dud cheques to Uzomah which lead him to petition the EFCC that eventually found Yobah liable.
She pleaded not guilty before the presiding Judge, Justice Orji, and was admitted to N4million bail and two sureties with like some after her Counsel, Steve Imokhe, applied for her bail.
As part of the bail condition, the presiding judge said the sureties must be resident in Abuja. He also said that one of the sureties must be a civil servant of not lower than Grade Level 12, whose office address must be verified.
Justice Orji also said that the residential addresses of the two sureties must be verified by the investigating police officer and the court registry. He later fixed September 19 for commencement of the trial.

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