Lukman Olabiyi
Justice Oluwatoyin Taiwo of the Lagos State High Court, Ikeja has fixed December 10 for the trial an oil marketer, Ayodeji Ibrahim Oluokun, who was docked by the Economic and Financial Crimes Commission (EFCC) for allegedly issuing dud cheque, valued $1.6 million
Oluokun was arraigned alongside his his oil firm, Peak Petroleum Industry Nigeria Limited, by EFCC on two-count charge of the offence
The defendant and his company were first arraigned before the court on January 21, 2019, on the offence.
EFCC in a charge marked ID/8509c/19, alleged that the defendant and his company, sometime in 2014, approached the management of GOSL Nigeria Limited, for a loan of $1 million and $666,666 respectively to enable him carry out some operations in his company’s oil field in Bayelsa State.
He was alleged to have assured the company which is the complainant in the charge against him, that he would repay the loan within a year.
Following the defendant’s failure to repay the loan as promised, he was alleged to have issued two post-dated Standard Chartered Bank Nigeria Limited cheques dated June 26, 2014 for the sum of $1 million and $666,666 respectively.
The EFCC stated that upon presentation of the cheques at the bank on several occasions, they were returned due to insufficient funds.
The offence according to the prosecution, is contrary to and punishable under Section 1(1) (b) of the Dishonoured Cheques (Offences) Act, Cap D 11 Laws of the Federation of Nigeria, 2004.
Ayodeji had, however, pleaded not guilty to the charges and accordingly admitted to bail in some terms and conditions.
One of the charges read: “That you, Ayodeji Ibrahim Oluokun and Peak Petroleum Industry Nigeria Limited, on or about 26th June, 2014, at Lagos within the Ikeja Judicial Division issued a Standard Chartered Bank Nigeria Limited Cheque dated 26th June, 2014 for the sum of $1,000,000 (One Million Dollars) only, payable to GOSL Nigeria Limited, which when presented for payment was dishonoured on the grounds that no sufficient funds were standing to the credit of the account on which cheque was drawn”.
The second count reads: “That you, Ayodeji Ibrahim Oluokun and Peak Petroleum Industry Nigeria Limited, on or about 26th June, 2014, at Lagos within the Ikeja Judicial Division issued a Standard Chartered Bank Nigeria Limited cheque dated 26th June, 2014 for the sum $666,666 (Six Hundred and Sixty-Six Thousand, Six Hundred and Sixty-Six Dollars only) payable to GOSL Nigeria Limited which when presented for payment was dishonoured on the grounds that no sufficient funds were standing to the credit of the account on which cheque was drawn”.
