Publisher remanded in prison custody for allegedly issuing N13.05m dud cheques

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(Nigeria) A Lagos State High Court sitting in Ikeja on Thursday remanded a publisher, Tony Iwena,in Kirikiri Prisons, Lagos, for allegedly issuing dud cheques to the tune of N13.05 million.
Justice Olutoyin Ipaye ordered that 53-year-old Iwena should be kept behind bars pending the determination of his bail application fixed for November 11.
Iwena, who lives at No. 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 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.

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