EFCC prosecutes woman for allegedly issuing N50m dud cheques

According to reports, the Economic and Financial Crimes Commission (EFCC) has commenced the prosecution of an Abuja-based businesswoman, Mrs Joy Folake Yobah for allegedly issuing dud cheques valued at N50million to a business partner.

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It will be recalled that Mrs Yobah, Managing Director of Skyhigh Ventures Ltd, was earlier this year arraigned before Justice Sylvanus Oriji of the High Court of the Federal Capital Territory in Apo, Abuja on a 5-count charge, to which she pleaded not guilty.

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The court, on September 19, 2016 admitted some documentary exhibits tendered by prosecution lawyer, Dalyop Eunice. They include report of the investigation, the alleged dud cheques and the defendant’s statement.

Justice Oriji adjourned to October 2 for the prosecution to call its witnesses.

Mrs Yobah was said to have entered into a project financing agreement as “the contractor ” with United Surgicals Ltd as “financier”.

The financier and the contractor had entered into an agreement for United Surgicals Ltd to finance Skyhigh’s sub-contract awarded to it by the Central Bank of Nigeria through an award letter referenced PSD/PP/GEN/PEL/001 dated 21st May, 2012 to install security surveillance systems at its Bauchi branch.

The contract was for N222,836,551.07. By the earlier agreement by the parties, United Surgicals was said to have given N40million to Skyhigh as a loan, to attract a monthly interest of 15 percent.

The prosecution alleged that on January 1, 2014, interest on the said loan was stopped, and the total of money due to the financier (to wit the loan and interest) amounted to N64million.

It added that on the same day, the contractor paid the sum of N25million to the financier leaving a balance of N39million.

Mrs. Yobah and her company were alleged to have, in a bid to settle the loan, issued dud cheques of N10million to the Managing Director of United Surgicals, Emmanuel Uzomah, which were allegedly not honoured by banks.

Dissatisfied that the cheques were dishonoured, Uzomah petitioned the EFCC, which investigated the case and found Yobah liable.

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