EFCC arraigns Bennicle MD over N20m dud cheque fraud

The Economic and Financial Crimes Commission has arraigned the Managing Director of Bennicle Investment Nigeria Limited, Mahwash Benedict Luka, and the company before the Federal Capital Territory High Court in Jabi, Abuja, over allegations of issuing N20 million worth of dud cheques. The case, which came up before Justice A.A. Fashola on Tuesday, July 21, 2026, centers on two cheques allegedly issued to First Bank Nigeria Plc and First Bank Nigeria Limited but returned unpaid due to insufficient funds.thenigerialawyer

Luka was docked on a two-count charge bordering on the alleged issuance of dishonoured cheques. In the first count, the EFCC alleged that he issued a First City Monument Bank cheque for N10 million on November 29, 2023, while the second count accused him of issuing a Sterling Bank cheque for another N10 million on August 29, 2016. Both instruments, according to the prosecution, were dishonoured when presented for payment.thenigerialawyer

The defendant, standing in for himself and the company, pleaded not guilty to the charges. Following his plea, the court entertained the bail application and later granted bail to both defendants in the sum of N10 million each, with one surety who must be of reputable character and have a verifiable address. The matter was adjourned till October 22, 2026, for the commencement of trial.thenigerialawyer

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The case adds to the growing list of EFCC prosecutions involving alleged dud cheques, a financial offence that Nigerian law treats as punishable where a cheque is issued without sufficient funds to clear it. Similar cases handled by the anti-graft agency have resulted in arraignments of company executives in Port Harcourt, Abuja and Enugu in recent years.