By Robert AKPAN, Senior Investigator Reporter, Lagos/
A Lagos Chief Magistrate Court sitting before Magistrate Adebayo has remanded a business man, Olugbenga Adefisayo in prison custody for an alleged issuance of N29 million dud cheque to his creditor; Jews Business Support Limited. The accused was alleged to have committed the offence on the July 20, 2019, having borrowed a sum of N4 million for a business transaction with an interest rate that later shot up to the stated sum. He was said to have paid initial N2 million out of the borrowed amount but subsequently failed to service the debt for more than one year. When approached for the balance and the accrued interest, the accused who claimed to be the Managing Director of New Trend Agency, an export and import company, allegedly issued the cheque in question which turned out to be a dud one. When the charge was read to him, the accused pleaded not guilty and was admitted to bail in the sum of N500, 000 with two sureties in like sum. The matter was therefore, adjourned to November 20, 2020 for mention even as the accused was ordered to be remanded in Police custody since the Correctional Centers had yet to resume full activities.