Justice Efe Ikponmwonba of an Edo State High Court, Benin City on 21st June 2022 convicted Illustrious Pharmacy and Store Limited.
The company was arraigned by the Benin Zonal Command of the Economic and Financial Crimes Commission (EFCC) on a one-count charge of issuance of a dud cheque through one of its directors, Akin Gbenga Samuel.
The charge reads: “that you Illustrious Pharmacy and Store Limited, through one of your Directors, Mr Akin Gbenga Samuel, on or about 21st day of April 2021 at No, 18 Upper Ekenwa Road, Ugbiholiho Quarters, Benin City, Edo State within the jurisdiction of this Honourable Court did issue a First Bank cheque no: 0060401524 for the sum of One Million Naira (N1,000,000.00) only to one Francis Ave Ent, for the goods given to you on credit and issued to the said Francis Ave Ent. a cheque to offset the financial obligation. Upon presentation in the bank, it was returned unpaid for insufficient funds standing to the credit of the said Illustrious Pharmacy and Store Limited and thereby committed an offence punishable under Section 1(1)(b)(ii) of Dishonoured Cheques (Offences).Act Cap D11 Laws of the Federation of Nigeria 2004”.
The company pleaded guilty to the charge prompting counsel to the EFCC, I.K. Agwai, to ask the court to convict it.
Justice Ikponmwonba thereafter convicted and sentenced the company to a fine of Two Hundred Thousand Naira (N200, 000).