EFCC arraigns businessman for issuing N60m dud cheque

                         
The Economic and Financial Crimes Commission (EFCC) on Wednesday arraigned the managing director of Naxpro Energy & Shipping Company Limited, Valentine Orji, for issuing a dud cheque.
He was arraigned before Justice A. A. Onojovwo of the Delta State High Court sitting in Warri, on a six-count charge bordering on issuance of N60million dud cheque.
The petitioner, ARC Marine & Civil Construction Company Limited alleged that sometime in September 2013, Mr. Orji approached her in the company of a man identified as Mr. Bimbo requesting to buy a vessel.
After the negotiation, the parties agreed on the sum of N140million.

The two parties agreed that the vessel would be handed over to Mr. Orji’s company after the sum of N80million is deposited for the vessel and issuance of post-dated cheque covering the balance sum of N60million.
Upon the payment of the initial amount, the vessel was handed over to his company, and it was agreed if by April 1, 2014 he fails to pay the balance the vessel, should be returned.
However, on presentation of Mr. Orji’s cheque in bank, it was dishonoured on the grounds of insufficient funds.

Efforts made to recover the vessel or money proved abortive.
Mr. Orji pleaded not guilty to the charge.
In view of his plea, the prosecuting counsel, M. T. Iko, urged the court to fix a date to commence trial.
However, the defence counsel prayed the court to grant the accused person bail.
Justice Onojovwo, granted the accused person bail in the sum of N5million and two sureties in like sum.
The court said the sureties must be resident of Warri or Effurun jurisdiction with a landed property to be verified by the bailiff of the court.
The judge ordered the accused person to be remanded in prison custody pending the perfection of his bail.
The matter was adjourned to March 22 for commencement of trial.