Bank Drags MD To Court For Issuing Dud Cheque

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The Management of Projects Micro Finance Bank Limited on Lagos Island, Lagos has dragged the Managing Director of R.A One Enterprises, Omolekan Rotimi, 44, before a Lagos Magistrate Court for allegedly failing to pay back as agreed the Credit facility of N741,777 he secured from the complainant since 2013 and instead allegedly issued dud cheque.

The accused was arrested by the Police at the Lion Building Division, Lagos Island and charged before the Igbosere Magistrate Court on a two-count of felony to wit, obtaining Credit facility under false pretence, stealing and issuance of dud cheque.

Police Counsel, Inspector Ingonbo Emby told the Court in charge No P/25/2019 that the accused committed the alleged offence in June, 2013 at Projects Micro Finance Bank at 61, Marina Street, Lagos Island ,Lagos.

Emby informed the court that the accused applied for a credit facility of N741,777.14 since 2013 from the complainant with the promised to pay back the Loan at an agreed time, but that the accused, after receiving the credit facility failed to pay back the loan and instead issued a Diamond Bank cheque with No 39465757 for N354,960 to the complainant as part payment for the loan.

He said that when the complainant presented the cheque at the bank for payment, it was rejected due to lack of funds in the accused’s account.

Emby said that the complainant decided to report the matter to the police when all its efforts to recover the loan from the accused proved futile.

He added that the offences the accused committed were punishable under sections 321(b) and 314(1) of the Criminal Law of Lagos State, 2015.

The accused, however, pleaded not guilty to the alleged crime in the court and Magistrate B.I Bakare granted him bail in the sum of N400,000 with two sureties in like sum.

Bakare adjourned the case to 18 April, 2019 for mention and ordered that the defendant be kept at the Ikoyi Prison till he fulfilled the bail conditions.