The accused is alleged to have received the sum of N10 million from Hybridge Technical Company Limited Abuja for the supply of motor vehicles. Only one vehicle was supplied leaving a balance of N7.2 million. After much pressure to refund the balance, the accused issued a cheque for the sum of N5,200,000 which bounced on presentation owing to insufficient funds.
The Economic and Financial Crimes Commission on Thursday November 13, 2014 arraigned one Collins Masadey and his company, Coomy Automobiles Limited, before Justice Salisu Garba of the High Court of the Federal Capital Territory, Abuja on one count charge bordering on issuance of dud cheque.
The accused is alleged to have received the sum of N10 million from Hybridge Technical Company Limited Abuja for the supply of motor vehicles. Only one vehicle was supplied leaving a balance of N7.2 million. After much pressure to refund the balance, the accused issued a cheque for the sum of N5,200,000 which bounced on presentation owing to insufficient funds.
The charge reads: “That you, Collins Masadey and Coomy Automobiles Limited, on or about the 8th of April, 2010 in Abuja within the jurisdiction of this Honourable Court with knowledge that you had insufficient funds in your account issued to one Hybridge Technical Company Limited, a Skye Bank Plc Cheque No 138677764 dated 8th of April, 2010 for the sum of N5,200,000.00 (Five Million, Two Hundred Thousand Naira only) which said cheque when presented for payment within three months of issuance was dishonoured due to insufficient funds in your account and thereby committed an offence contrary to Section 1 (1)(a) of the Dishonoured Cheque (offences) Act Cap 102 Laws of the Federation of Nigeria and punishable under Section 1 (1) (b) (i) (ii) of the same Act”.
The accused pleaded not guilty when the charge was read to him.
Justice Salisu Garba adjourned the case to November 17,2014 for ruling on the bail application and ordered that the accused be remanded in prison custody.
Wilson Uwujaren
Head, Media & Publicity
13th November, 2014