Bizman docked for N60m dud cheque

Bizman docked for N60m dud cheque

Monday, February 22, 2016 6:00 pm


Valentine Orji

Valentine Orji

The Managing Director of Naxpro Energy & Shipping Company Limited has been charged  before Justice A. A. Onojovwo of the Delta State High Court sitting in Warri, with issuing a N60million dud cheque.

Valentine orji was arraigned by the Economic and Financial Crimes Commission, EFCC.
This followed an investigation of a petition by by  ARC Marine & Civil Construction Company Limited.
 
The company alleged that sometime in September 2013,  Orji approached its representative in the company of one Mr. Bimbo requesting to buy a vessel, MV DOLA with registration No. IMO H. 6826793. After the negotiation, the parties agreed on the sum of N140million.
The two parties agreed that the vessel would be handed over to Orji’s company after the sum of N80million is deposited for the vessel and issuance of post-dated cheque covering the balance sum of N60million.
Upon the payment of the initial amount, the vessel was handed over to his company, and it was agreed that  if by April 1, 2014 he fails to pay the balance the vessel should be returned.
However, on presentation of Orji’s cheque in the bank, it was dishonoured on the grounds of insufficient funds.
Efforts made to recover the vessel or money proved abortive.
Orji pleaded not guilty to the charge.
In view of his plea, prosecuting counsel, M. T. Iko, urged the court to fix a date to commence trial.
However, the defence counsel, Erikefe prayed the court to grant the accused person bail.
Justice Onojovwo, granted the accused person bail in the sum of N5million  and two sureties in like sum. The sureties must be resident within Warri or Effurun jurisdiction with a landed property to be verified by the bailiff of the court.
The judge ordered the accused person to be remanded in prison custody pending the perfection of his bail.
The matter was adjourned to 22 March 2016 for trial to commence.
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