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EFCC arraigns Oluwabiyi Peace over N13m dud cheque

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Oluwabiyi Peace was arraigned for allegedly issuing a N13m dud cheque

The Ibadan Command of the Economic and Financial Crimes Commission, EFCC, has arraigned a businesswoman, Oluwabiyi Peace before Justice O.A. Adeyemi of the Oyo State High Court, in Ibadan for issuing a dud cheque worth N13,000,000 (Thirteen Million Naira) to a customer.

She was arraigned on Wednesday, February 14, 2024, alongside her company, Just Series Nigeria Limited on a one-count charge bordering on the issuance of the dishonoured cheque.

The lone-count charge reads: The One Count Charge Reads: “That you Oluwabiyi Peace and Just Series Nigeria Limited, on or about the 29th of June, 2021 at Ibadan within the jurisdiction of this Honourable Court, issued First City Monument Bank Plc Cheque No. 0037862154, dated 29th of June, 2021 in the sum of (N13, 000, 000.00) Thirteen Million Naira only, made payable to Nuru Bello, which when presented for payment within three months was dishonoured because no funds or insufficient funds were standing to the credit of the account on which the cheque was drawn, thereby committed the offence of issuance of dishonoured cheque contrary to Sections 1 (1) (a) and 1 (1) (i) of the Dishonoured Cheque (Offences) Act, Cap D 11 Laws of the Federation of Nigeria, 2004.”

Oluwabiyi Peace pleaded “not guilty” when the charge was read to her.

Following her not-guilty plea, prosecution counsel Mabas Mabur asked the court for a trial date and prayed the court to remand the defendant to the Correctional Center.

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However, defence counsel, A. A. Maisolati informed the court of a bail application filed and served on the prosecution on behalf of his client. He prayed the court to admit his client to bail in most liberal terms.

After listening to the prayers of the counsels, Justice Adeyemi admitted the defendant to bail in the sum of N5 million (Five Million Naira only) and two sureties in like sum. The sureties must be property owners in Oyo State.

The court further ordered that Oluwabiyi Peace be remanded in the EFCC detention facility pending the perfection of her bail conditions.

The judge adjourned the matter to March 27, 2024 for trial.

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