Publisher Remanded In Prison For Issuing Dud Cheques - naijaswap

Publisher Remanded In Prison For Issuing Dud Cheques

A publisher, Tony Iwena, has been remanded in Kirikiri Prisons, Lagos, by an Ikeja High Court, for allegedly issuing dud cheques to the tune of N13.05 million.
Justice Olutoyin Ipaye, Thursday, ordered that 53-year-old Iwena should be kept behind bars pending the determination of his bail application fixed for 11 November.
Iwena, who lives at 1, Otuyelu St., Oke-Ira in Ogba, Lagos, is being tried on a three-count charge bordering on fraud and issuance of dud cheques by the Economic and Financial Crimes Commission (EFCC).
The News Agency of Nigeria (NAN) reports that the accused, who entered a plea of not guilty, is charged alongside his company — Tonad Publishing Ltd.

Counsel to the EFCC, Mr M.K. Bashir, alleged that the accused committed the offences sometime between October 14 and 21, 2010 at Mushin.
He said Iwena issued three Union Bank cheques for the sum of N13.05 million in favour of Star Chem Industries Ltd.
The cheques were dishonoured on presentation at the bank, Bashir told the court.
He said the offences contravened Section 1(1) of the Dishonoured Cheques (Offences) Act, Laws of the Federation, 2004.