The accused, a resident of Makurdi, had collected N3.5 million loan from Bristol Investment Cooperative Society Limited, Oturkp, at a 20 per cent interest.
According to the prosecutor, Mr Adama Owochio, the accused, a resident of Makurdi, had collected N3.5 million loan from Bristol Investment Cooperative Society Limited, Oturkp, at a 20 per cent interest.
The loan was expected to be paid within one month.
“The loan period expired on July 19, 2016 without payment and one Mr E. O. Samson petitioned the Commissioner of Police on the matter on Feb. 28, on behalf of the cooperative society.
“In the petition, Sunday was accused of issuing a Zenith Bank cheque for N4,291,896, to the cooperative society on Feb. 7.
“It further said that when the cheque was presented at the bank, it was returned on the ground that the accused account had no such money,” he said.
Owochio said that the accused person was subsequently arrested and, during investigation, confessed to the crime.
The plea of the accused person was not taken but his counsel, Abah James, applied for his bail.
The Magistrate, Mrs. Franca Yuwa, granted the accused bail in the sum of N100,000 with a fit surety in like sum.
Yuwa ruled that the surety must be resident in Makurdi, and adjourned the case till April, 13 for further hearing.