N50m Fraud: EFCC Arraigns Man For Issuance of Dud Check 

The EFCC, Lagos office, today, November 13, 2019, arraigned one Bayo Alli and his company, Transoceanic Logistic Limited before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja on a nine-count charge, bordering on issuance of dud cheque to the tune of N50, 000, 000.00 (Fifty Million Naira only), an offence contrary to Section (2) (b) of the Dishonoured Cheques (Offences) Act, Cap. D 11 Laws of Federation of Nigeria, 2004.

Read Also: $108,000 USD Fraud: EFCC Docks Man, Son for Conspiracy, OBT

The defendant allegedly failed, with a clear indication not to settle his debt having applied for and was granted a “General Working Capital Facility” of N50million for a period of twelve months from First City Monument Bank, FCMB.

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