By  Soni Daniel, Regional Editor, North

LOKOJA — A Lebanese businessman in Nigeria was yesterday remanded at the Lokoja Prisons for allegedly issuing dud cheques to two Nigerians in a business deal.

Shahimi Talal, who owns Lama Cocoa Processing Nigeria Limited, is to remain at the Lokoja Prisons in Kogi State till December 2, when the court will rule on his bail application.

The Economic & Financial Crimes Commission, EFCC had dragged the businessman before Justice Alaba Ajileye of the Kogi State High Court on a two-count charge bordering on obtaining money under false pretence and issuing dud cheques.

The two offences contravene Section 1(1)a of the Advance Free Fraud and other Related Offences Act, 2006 and punishable under section 1(3) of the same law.

Talal, who is managing director of the firm, is alleged to have issued three cheques in the sums of N1.5 million and N8.5 million and N9 million respectively which were returned unpaid upon presentation by the duo of Arogundade  Adedayo and Dele Kirin Samuel who had invested N27 million in the business with the hope of being paid with interest on maturity.

The court was told that apart from the bounced cheques, the two investors were not paid their interest as and when due, thereby subjecting them to further losses.

One of the charge count reads: “That you, Shaimi Talal, being the Managing Director of Lama Cocoa Processing Nig. Limited and Sharu Dynamics International Ltd. between May and September, 2008 at Obajana in the Lokoja Judicial Division of the High Court of Kogi State, with intent to defraud obtained the sum of N10 million from one Kirin Dele under the false pretence that you are going to invest the said amount for him in Lama Cocoa Processing Nig. Limited and to pay him an interest of 10 per cent each monthly on the said principal sum invested, which you knew is false and thereby committed an offence contrary to Section 1(1) of the EFCC Act of 2004.”